Sky Quarry Inc. (NASDAQ:SKYQ) shares are flying Thursday after the company announced it received an air permit from the Nevada Division of Environmental Protection.
- Sky Quarry stock is among today’s top performers. What’s fueling SKYQ momentum?
Sky Quarry Restarts Nevada’s Only Crude Oil Refinery
Eagle Springs, located near Ely, Nevada, is back up and running under Sky Quarry’s subsidiary Foreland Refining Corporation after clearing the necessary air permit. Getting there took roughly $300,000 in repairs and upgrades identified through a 2025 inspection. The facility can process up to roughly 5,000 barrels of crude daily at full capacity, and Sky Quarry says it currently holds about 15,000 barrels of crude in storage, with more supply expected as the restart progresses.
Interim CEO Marcus Laun called restarting “Nevada’s only crude oil refinery” a major milestone, saying the priority now is pushing Eagle Springs toward its full output and making Nevada-refined fuel a bigger part of the region’s supply.
Sky Quarry has also been engaging with Nevada’s broader energy policy efforts, including a Fuel Resiliency Committee meeting earlier this year, and backs proposals to expand oil exploration in the state. The company cited federal estimates of roughly 1.4 billion barrels of undiscovered, recoverable oil beneath Nevada’s public lands.
SKYQ Shares Are Jumping
SKYQ Price Action: Sky Quarry shares were up 12.20% at $2.85 at the time of publication on Thursday, according to Benzinga Pro.
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