CEO Interview Details High Value Growth Plans With 5,000 Barrels Per Day Potential from Restarting Nevada’s Only Crude Oil Refinery by Sky Quarry Inc. (Nasdaq: SKYQ)
WOODS CROSS, UT – October 7, 2026 – Sky Quarry Inc. (NASDAQ: SKYQ), an energy infrastructure company focused on domestic refining and resource development, has announced the release of a new interview featuring Marcus Laun, Chief Executive Officer of Sky Quarry, hosted by Stuart Smith of SmallCapVoice.com.
The full interview is available at: https://youtu.be/Z_E9MExplnY
“We are in the final stages of a turnaround,” said Marcus Laun, Chief Executive Officer of SKYQ. “We now have working capital, an operating refinery and a clear strategy for growth.
Sky Quarry Restarts Nevada’s Only Crude Oil Refinery with Nevada Air Permit Secured and Facility Work Completed at Eagle Springs
SKYQ has announced it has received an air permit from the Nevada Division of Environmental Protection and has restarted operations at its Eagle Springs Refinery near Ely, Nevada. The refinery is operated by the SKYQ wholly owned subsidiary, Foreland Refining Corporation.
In preparation for the restart, SKYQ completed approximately $300,000 in repairs and upgrades identified through a TAR360 assessment commissioned in 2025. Eagle Springs has a stated nameplate capacity of approximately 5,000 barrels of crude oil per day. SKYQ has approximately 15,000 barrels of crude oil inventory on hand and expects additional supply as operations progress.
SKYQ presented at a Nevada Fuel Resiliency Committee meeting earlier in 2026 and intends to remain engaged as the state considers fuel supply and infrastructure initiatives. SKYQ also supports proposed initiatives to expand oil exploration and production in Nevada. The U.S. Geological Survey estimates that federal lands in Nevada contain approximately 1.4 billion barrels of undiscovered, technically recoverable oil resources.
Separately, SKYQ continues discussions regarding its previously announced farm-in opportunity at PR Spring and potential collaboration involving its 7-megawatt power generation capacity.
Advancement of $50 Million Nevada Oil Development Program to Support Lower-Cost Regional Feedstock
SKYQ has announced that it is advancing a proposed Nevada oil exploration and production initiative targeting up to $50 million of third-party investment in qualified exploration and production companies.
The initiative is intended to accelerate the development of new domestic crude oil resources while potentially providing SKYQ Nevada refining operations with access to lower-cost regional feedstock.
Under the contemplated structure, investments would be made directly in participating Nevada producers and projects rather than through the issuance of additional SKYQ common equity. The structure is therefore designed to support new drilling activity while avoiding dilution to existing SYKQ shareholders.
For SKYQ, locally produced crude could reduce transportation expenses and decrease reliance on feedstock sourced from more distant markets. Subject to successful drilling, acceptable crude quality and commercially favorable offtake terms, lower delivered feedstock costs could support higher refinery utilization, stronger operating margins and improved cash flow.
Growing Nevada Oil Exploration Activity and Potential New Regional Supply for Subsidiary Foreland Refinery
SKYQ has highlighted recent federal oil and gas leasing and drilling-permit activity that the Company believes demonstrates renewed interest in Nevada oil exploration and could support increased in-state crude oil production.
During the first half of 2026, the Bureau of Land Management (“BLM”) completed two Nevada competitive oil and gas lease sales covering approximately 30,168 acres. The BLM’s March 31 sale included 11 parcels totaling approximately 19,957 acres, all of which received bids.The agency’s June 23 sale included four parcels totaling approximately 10,211 acres, all of which were acquired by Reanco Enterprises LP.
Recent activity is occurring against a substantial geological resource backdrop. A 2025 U.S. Geological Survey assessment estimated that federal lands in Nevada contain a mean allocated resource of approximately 1.407 billion barrels of undiscovered, technically recoverable oil, placing Nevada third among U.S. states in the assessment, behind Alaska and New Mexico.
The SKYQ Eagle Springs Refinery near Ely, Nevada. Foreland processes crude oil into diesel, vacuum gas oil, naphtha, liquid paving asphalt and other petroleum products. Crude oil is delivered to the refinery by truck from producers in Nevada, Utah and other North American producing regions.
SYKQ believes that Foreland’s location could provide a meaningful logistical advantage as additional Nevada oil resources are explored and developed. Because crude is delivered to the refinery by truck, transportation distance is an important component of the total delivered feedstock cost. Nevada crude produced relatively close to Foreland could therefore be economically attractive to the refinery compared with otherwise comparable barrels transported substantially longer distances from outside the region.
Foreland has historically operated in a region where available crude supply has been constrained. SKYQ believes successful new exploration could increase the number of regional producers, diversify Foreland’s supply base and support higher utilization of existing Nevada refining infrastructure.
The North Diamond Valley project also reflects interest in evaluating petroleum opportunities outside Nevada’s principal historical producing area. Successful exploration could provide additional geological information, attract investment and encourage further oil and gas development in the state.
SKYQ believes increasing Nevada crude production could provide several potential benefits, including:
More competitively delivered feedstock costs for the Foreland subsidiary;
Reduced reliance on crude transported from distant producing regions;
Greater supply diversity and refinery operating flexibility;
An established in-state market for Nevada oil producers;
Increased utilization of existing domestic refining infrastructure; and
Additional investment, employment and economic activity within Nevada.
Domestic Refining and Resource Development Company Producing Diesel, Vacuum Gas Oil, Naphtha and Liquid Paving Asphalt.
Also Developing Facility to Recover Hydrocarbons and Other Marketable Materials from Waste Asphalt Shingles and Oil-Bearing Resources.
Proprietary ECOSolv Technology is Diverting Waste from Landfills, Reducing Emissions and Pursuing a Waste-to-Energy Model.
New CEO Interview Highlighting Nevada Refinery Restart, Growth Strategy and Path to Increased Production.
Restarting Nevada’s Only Crude Oil Refinery With Nevada Air Permit Secured and Facility Work Completed.
Advancing Proposed Nevada Oil Exploration and Production Initiative for up to $50 million of Third-Party Investment, Non-Dilutive to Shareholders.
Strategic Objective to Increase Regional Crude Availability, Reduce Delivered Feedstock Costs and Support Higher Refinery Utilization.
Recent Federal Permits and Estimate of 1.4 Billion Barrels of Oil Resources in Nevada Reinforce the State’s Potential for Expanded Domestic Production.
About Sky Quarry Inc.
Sky Quarry Inc. is an energy infrastructure company focused on domestic refining and resource development. Through its wholly owned subsidiary, Foreland Refining Corporation, the Company operates the Eagle Springs Refinery near Ely, Nevada, which produces diesel, vacuum gas oil, naphtha and liquid paving asphalt. Sky Quarry is also developing its PR Spring facility in Utah to recover hydrocarbons and other marketable materials from waste asphalt shingles and oil-bearing resources.
Mission:
Sky Quarry Inc. (Nasdaq: SKYQ) is an integrated energy solutions company focused on converting waste asphalt shingles into sustainable oil and other resources through its proprietary ECOSolv technology, while also operating refining assets. Sky Quarry is revolutionizing asphalt shingle recycling, diverting waste from landfills, reducing emissions, and pursuing a waste-to-energy model.
skyquarry.com
The Sky Quarry vision is to become a premier products sales company committed to sustainable energy practices while maximizing profit margins and creating value for shareholders and customers.
Sky Quarry Inc. was incorporated in the state of Delaware on April 22, 2020. seekingalpha.com
For more information on SKYQ visit: https://skyquarry.com
Email: [email protected] or [email protected]
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Media Contact
Company Name: Sky Quarry Inc. (Nasdaq: SKYQ)
Contact Person: Marcus Laun, CEO
Phone: (424) 394-1090
Address:707 W. 700 S. Suite 101
City: Woods Cross
State: UT 84087
Country: United States
Website: https://skyquarry.com/
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