Calumet Q1 2026 Operational Update: 750K Barrels Production Loss
Calumet announced an operational update for Q1 2026. Shreveport Maintenance: late in Q1, its Shreveport facility required unplanned maintenance after discovering the presence of organic chlorides in feedstock tanks. Operations across significant portions of the facility were temporarily suspended. This outage resulted in a loss of approximately 750K barrels of production, and the company are conducting an investigation as to the source of organic chlorides. The Shreveport facility is back fully operational and processing over 50K barrels per day of feedstock. Montana Renewables planned shutdown for its MaxSAF expansion and additional turnaround activities began the week of March 2nd and is expected to last approximately 48 days. The project is more than 70% complete and is currently on time and budget.
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- Sustainable Aviation Fuel Pivot: Sky Quarry has signed a Memorandum of Understanding with Southern Energy Renewables and DevvStream to develop low-carbon fuels and integrate refinery operations, aiming to establish a pilot production pathway for sustainable aviation fuel, demonstrating the company's strategic adaptability in a rapidly changing fuel market.
- Unique Strategic Asset: The Foreland Refinery, operated by Sky Quarry in Nevada, is the only operating refinery in the state with a permitted capacity of approximately 5,000 barrels per day, and as West Coast refining capacity shrinks, the strategic value of this facility becomes increasingly significant.
- Robust Resource Base: The company's PR Spring development project in Utah covers about 5,930 acres of bitumen leases with an estimated resource of approximately 180 million barrels, utilizing its proprietary water-free ECOSolv recovery process, which enhances its competitiveness in the low-carbon fuel market.
- Execution Risks and Financing Challenges: Although management states that repairs at the Foreland refinery are complete and production is expected to resume in June 2026, the company still requires financing to support its development plans, and after experiencing a significant revenue drop in Q1 2026, future production capabilities remain uncertain.
- Sustainable Aviation Fuel Pivot: Sky Quarry has signed a non-binding Memorandum of Understanding with Southern Energy Renewables and DevvStream to pursue low-carbon fuel development, refinery integration, and a pilot pathway for sustainable aviation fuel, demonstrating the company's strategic adaptability in a rapidly changing fuel market.
- Unique Strategic Asset: The Foreland Refinery, operated by Sky Quarry in Nevada, is the only operating refinery in the state with a permitted capacity of approximately 5,000 barrels per day, significantly enhancing its strategic value as West Coast refining capacity shrinks.
- Robust Resource Base: The company's PR Spring development in Utah covers about 5,930 acres of bitumen leases with an estimated resource of approximately 180 million barrels, utilizing its proprietary water-free ECOSolv recovery process, which strengthens its competitive position in the low-carbon fuel market.
- Execution Risks and Financing Needs: The Foreland refinery faced production halts due to boiler repairs in late 2025 and Q1 2026, leading to a sharp revenue decline; management expects production to resume around June 2026, but the company still requires financing to support its development plans.
- Conference Participation: Calumet, Inc. plans to attend the Wells Fargo Industrials & Materials Conference on June 9, where it will hold one-on-one investor meetings throughout the day to enhance communication with investors.
- Business Overview: Calumet specializes in manufacturing, formulating, and marketing a diverse range of specialty branded products and renewable fuels, serving a broad spectrum of consumer-facing and industrial markets, showcasing its diversified capabilities in the industry.
- Headquarters and Operations: Headquartered in Indianapolis, Calumet operates twelve facilities across North America, demonstrating its strong production capacity and market reach to meet diverse customer needs.
- Investor Relations: By participating in such conferences, Calumet aims to increase its visibility and credibility among investors, thereby laying the groundwork for future capital operations and market expansion.
- Conference Participation: Calumet, Inc. plans to attend the Wells Fargo Industrials & Materials Conference on June 9, with one-on-one investor meetings scheduled throughout the day to enhance engagement and communication with investors.
- Company Overview: Headquartered in Indianapolis, Calumet, Inc. manufactures, formulates, and markets a diversified range of specialty branded products and renewable fuels, serving a broad spectrum of consumer-facing and industrial markets, showcasing its diversified positioning in the industry.
- Operational Network: With twelve facilities operating across North America, Calumet ensures efficient product coverage across various markets, strengthening its competitive position in a highly competitive industry.
- Investor Relations: By participating in this conference, Calumet aims to increase its visibility among investors and strengthen relationships with potential investors through direct communication, further driving the company's long-term strategic development.
- Conference Participation: Calumet, Inc. plans to attend the Bank of America Energy and Power Credit Conference on June 4, where it will hold one-on-one investor meetings throughout the day, aiming to strengthen communication with investors and enhance market awareness of the company.
- Business Overview: Headquartered in Indianapolis, Calumet manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels, serving a broad range of consumer-facing and industrial markets, showcasing its diversified positioning in the industry.
- Facility Operations: The company operates twelve facilities across North America, which not only enhances its competitive edge in the market but also improves responsiveness to customer demands, ensuring stable product supply.
- Strategic Implications: By participating in this conference, Calumet aims to elevate its visibility in the energy sector and further its long-term development strategy through direct interaction with investors, thereby boosting investor confidence.









