Sky Quarry Participates in Nevada Fuel Supply Strategy Discussions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 11 2026
0mins
Sky Quarry highlighted its participation in ongoing discussions shaping Nevada's fuel supply strategy within the broader U.S. energy security landscape at a meeting of the Nevada Fuel Resiliency Committee held on April 30, 2026. The Committee, formed by Nevada Governor Joe Lombardo in response to fuel supply disruptions and Nevada's declaration of a limited state of emergency, is focused on critical vulnerabilities in fuel logistics, refining capacity, and regional energy independence. The Company's management views the Committee as Nevada's response to a compounding series of energy emergencies necessitating coordinated action at both the state and federal levels. Nevada and the broader Western United States remain heavily dependent on imported refined fuels, a dynamic that is causing increasing pressure amid refinery closures and constraints on infrastructure expansion. Sky Quarry CEO Marcus Laun attended the Committee's April 30, 2026, meeting, where state leaders, regulators, and industry participants discussed the fuel supply shortage, which is increasingly being viewed as a structural issue rather than a temporary disruption. "This is no longer a single-point failure scenario. It is part of a broader energy security challenge," said Laun. "Nevada's response reflects a growing recognition that local fuel production and refining capacity are essential."
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Analyst Views on SKYQ
About SKYQ
Sky Quarry Inc. is an integrated energy solutions company. The Company and its subsidiaries are engaged in oil production, refining, and a development-stage environmental remediation, which is formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. It focuses on converting waste into sustainable oil and other resources. It has a daily production capacity of 5,000 barrels per day (bpd). The Company's refinery converts heavy crude oil into diesel and petroleum products, including naphtha, vacuum gas oil (VGO), and paving asphalt liquids from sustainable feedstock. It owns two substantial processing facilities: an oil extraction facility with significant hydrocarbon resources, and an oil refinery in Nevada. Its closed loop recycling process recovers both material and oil, using its proprietary extraction technology. Its subsidiaries include 2020 Resources (Canada) Ltd. and 2020 Resources LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Refinery Capacity Enhancement: The Foreland Refinery operates at a capacity of 5,000 barrels per day and has recently completed high-impact system upgrades, unlocking strategic value and supporting Sky Quarry's goal of 800,000 barrels of annual production, thereby strengthening its operational capabilities in the Western market.
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- Resource Development Plan: On April 29, 2026, Sky Quarry issued a Request for Proposals for its PR Spring oil sands asset, aiming to integrate approximately 180 million barrels of heavy oil production directly into the Foreland Refinery, creating a vertically integrated pathway that enhances overall operational efficiency.
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See More
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- Resource Development Plan: Sky Quarry issued a Request for Proposals for its PR Spring oil sands asset, targeting the development of approximately 180 million barrels of oil and integrating heavy oil production directly into the Foreland Refinery, creating a vertically integrated pathway that enhances market competitiveness.
- Refinery Capacity Enhancement: The Foreland Refinery operates at a capacity of 5,000 barrels per day and has recently completed high-impact system upgrades, unlocking strategic value and supporting Sky Quarry's goal of 800,000 barrels of annual production, thereby strengthening its operational capabilities in the Western market.
- Policy Support Environment: The Trump administration's Defense Production Act prioritizes U.S. refining infrastructure, and Sky Quarry's multi-party collaboration aligns with this policy, ensuring the company maintains a competitive edge in the currently constrained domestic refining market.
See More
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- Strategic Collaboration: On May 7, 2026, Sky Quarry signed a non-binding Memorandum of Understanding with Southern Energy and DevvStream for a three-year term, focusing on low-carbon fuel development and refinery integration, marking a significant advancement in the company's low-carbon fuel pathways.
- Resource Development Plan: On April 29, 2026, Sky Quarry issued a Request for Proposals for its PR Spring oil sands asset, aiming to integrate approximately 180 million barrels of heavy oil production directly into the Foreland Refinery, creating a vertically integrated pathway that enhances overall operational efficiency.
- Refinery Capacity Enhancement: The Foreland Refinery operates at a capacity of 5,000 barrels per day, and following high-impact system upgrades, Sky Quarry's strategic growth plan targets up to 800,000 barrels of annual sustained production, further solidifying its position in the U.S. refining market.
- Policy Support Environment: Sky Quarry's operations are bolstered by the Trump administration's policy support under the Defense Production Act, combined with its 180 million barrels of feedstock and multi-party collaborations, creating a structural framework conducive to the company's growth and enhancing its strategic value within domestic refining capacity.
See More
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- Oil Price Surge: Oil futures climbed nearly 2.5% in premarket trading following U.S. military strikes in Iran, although prices remained below $100 per barrel, indicating market sensitivity to geopolitical risks.
- Energy Stocks Rally: Major energy stocks like Battalion Oil Corp. and Sky Quarry Inc. surged over 15% and 14%, respectively, reflecting investor optimism about the energy market outlook amid rising oil prices.
- Divergent Market Sentiment: While retail sentiment for BATL and SKYQ leaned bearish, INDO and UCO showed bullish sentiment, highlighting significant differences in market perceptions of various energy stocks.
- Inflation Concerns Intensify: As oil prices continue to rise, Citigroup warned that this could exacerbate overall inflation pressures, prompting central banks to adopt a more hawkish monetary policy stance to counter energy-related inflation risks.
See More
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- Strategic Collaboration: On May 7, 2026, Sky Quarry signed a non-binding multi-party Memorandum of Understanding with Southern Energy Renewables and DevvStream, aimed at advancing fuel innovation and low-carbon fuel development, with an initial term of three years, indicating the company's strategic positioning in the clean fuel sector.
- Integration Advantage: Sky Quarry's Foreland Refinery, the only operating refinery in Nevada, combined with its 180-million-barrel oil sands resource at PR Spring in Utah, creates a unique upstream and downstream integration capability, potentially evolving into a next-generation fuel production hub.
- Market Reaction: Within the U.S. sustainable aviation fuel investment cycle, Sky Quarry's partnership may shift market perceptions of small-cap operators, especially against the backdrop of larger competitors like Calumet and Gevo, highlighting Sky Quarry's structural advantages.
- Policy Support: The MOU coincides with a shift in U.S. federal energy policy, as the White House supports the development of domestic petroleum refining capacity, providing a favorable policy environment for Sky Quarry's integrated operations and potentially facilitating its future commercialization efforts.
See More
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- Agreement Signing: Sky Quarry has signed a non-binding agreement with Southern Energy Renewables and DevvStream to develop low-carbon and alternative fuel projects, which is expected to drive innovation in sustainable aviation fuel and specialty fuels.
- Project Expansion Focus: The deal will focus on expanding operations at Sky Quarry's PR Spring asset and Foreland refinery, with plans to test sustainable aviation fuel, recycled hydrocarbon blends, and specialty fuels, thereby enhancing its market competitiveness.
- Access to Carbon Markets: Through the partnership with DevvStream, Sky Quarry anticipates accelerating fuel development projects and gaining access to carbon credit and environmental markets, further strengthening its strategic position in the renewable energy sector.
- Three-Year Framework: The memorandum of understanding spans three years and, while largely non-binding, lays the groundwork for both parties to reach definitive agreements, demonstrating their long-term commitment to collaboration in sustainable energy.
See More
Sky Quarry's Strong Performance in Oil Market
- Significant Stock Surge: Sky Quarry Inc. (SKYQ) has seen its stock price soar over 232% this year, significantly outpacing the United States Oil Fund's (USO) 113% and ProShares Ultra Bloomberg Crude Oil's (UCO) 147% gains, highlighting the company's market advantage amid Middle Eastern conflicts and Strait of Hormuz tensions.
- Capacity Expansion Plans: The company is accelerating the development of its PR Spring oil sands project in Utah, which is expected to add about 2,000 barrels per day of capacity, further solidifying its position in the regional energy market and meeting the rising domestic energy demand.
- Unique Refining Capability: Sky Quarry owns the only oil refinery in Nevada, Foreland Refining Corp., with a daily production capacity of 4,500 to 5,000 barrels, supporting Nevada's mining industry, and the company's profitability is expected to significantly increase against the backdrop of rising oil prices.
- Market Sentiment Shift: Despite the strong stock performance, retail sentiment around SKYQ on Stocktwits has shifted from 'bullish' to 'neutral', reflecting cautious investor attitudes towards the company's future performance, which may impact short-term stock price volatility.
See More
