Company enters operations with approximately 10,000 barrels of inventory on-site and more than 100,000 barrels of storage capacity. WOODS CROSS, UT / ACCESS Newswire / June 22, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ)

Company enters operations with approximately 10,000 barrels of inventory on-site and more than 100,000 barrels of storage capacity. WOODS CROSS, UT / <a href='https://www.accessnewswire.com/'>ACCESS Newswire</a> / June 22, 2026 / Sky Quarry Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SKYQ">SKYQ</a>) ("Sky Quarry" or the "Company"), an energy infrastructure company focused on domestic refining and resource development, today announced an update on its Nevada refinery operations provided by the Company's Interim Chief Executive Officer, Marcus Laun."As Sky Quarry approaches the commencement of refinery operations at Foreland Refinery in Ely, Nevada ("Foreland"), in my role as the Interim Chief Executive Officer of Sky Quarry, I wanted to provide an update on our progress and discuss the next phase of Sky Quarry's development."At the center of the Sky Quarry story is a simple fact: Sky Quarry controls what we believe is one of the most strategically positioned refining assets in the Western United States - Nevada's only operating refinery."While energy markets often focus on fluctuations in crude oil prices, the more important long-term trend, in my opinion, is the continued reduction of refining capacity across the Western United States," provided Mr. Laun. "As refining capacity exits the market and regional demand for transportation fuels remains resilient, strategically located refining infrastructure is expected to become increasingly valuable."Nevada remains one of the most fuel-import-dependent states in the nation. Despite consuming substantial quantities of gasoline, diesel, and other refined products, the state has historically relied on fuel imported from neighboring regions. Sky Quarry's Foreland Refinery occupies a unique position within that supply chain, with the potential to provide refining capacity directly within Nevada and serve customers throughout the broader Intermountain West region.At the same time, the regional refining landscape continues to evolve. Several large refining facilities in California have recently either ceased operations or announced plans to do so, removing meaningful refining capacity from the Western market. While no single event defines long-term market dynamics, the broader trend toward reduced regional refining capacity reinforces the Company's conviction in the strategic importance of existing refining assets that can meet regional demand.Against this backdrop, Sky Quarry's team has remained focused on preparing Foreland for sustained commercial operations. We are now in the final stages of that process and expect to commence refinery operations in July.Recent work at the Foreland Refinery site has included repairs, upgrades, and enhancements across critical operating systems, including storage infrastructure that provides the Company with more than 100,000 barrels of total storage capacity. This storage capability is expected to provide operational flexibility and represent an important component of the refinery's long-term value."Importantly, Sky Quarry's Foreland Refinery is entering operations with inventory already in place. The Company currently has approximately 10,000 barrels of crude oil and in-process inventory on-site, moving through the refining process. We believe this inventory represents both operational readiness and an immediate working asset as production begins. As operations ramp up, we expect this inventory to provide both operational flexibility and immediate participation in the value-creation process associated with refining crude oil into refined products."Perhaps most importantly, Sky Quarry is approaching a fundamental transition in its corporate evolution. For much of the Company's recent history, management's focus has been centered on repairing infrastructure, securing working capital, strengthening the balance sheet, and preparing Foreland for operations. As refinery operations commence, Sky Quarry's focus shifts toward production, customer deliveries, operating margins, and cash flow generation.This transition marks an important inflection point. The value of the Foreland Refinery has historically been viewed through the lens of its potential. As operations ramp up and throughput increases, the refinery will be increasingly evaluated based on its operational performance, cash-generating capability, and strategic position within the Western fuel market.As a refinery operator, the Company's economics are driven primarily by refining margins rather than crude oil prices alone. Crude oil is the principal feedstock used in operations, and lower feedstock costs can be beneficial when refined product demand and pricing remain healthy. The Company's focus remains on operating efficiently, managing costs, and capturing attractive margins through disciplined execution.Beyond the refinery itself, Sky Quarry now possesses a combination of assets that is increasingly difficult to replicate: refining infrastructure, substantial storage capacity, access to regional crude supply, operating permits, customer relationships, and a strategic location serving a fuel-deficient market. Collectively, these assets position the Company within a sector where replacement refining capacity has become increasingly scarce.Our intended objectives remain straightforward: operate safely, maximize utilization, generate cash flow, strengthen the balance sheet, and create long-term value for shareholders.We believe the months ahead will represent the beginning of a significantly different chapter for Sky Quarry.For years, the Company has worked to position Foreland as a strategic refining asset serving Nevada and the broader Western United States. Today, that effort is transitioning from preparation to production.Sincerely,Marcus Laun Chief Executive Officer Sky Quarry Inc.About Sky Quarry Inc. Sky Quarry is an energy infrastructure company focused on domestic refining and resource development. The Company operates the Foreland Refinery in Nevada, the state's only operating refinery, producing diesel, vacuum gas oil (VGO), naphtha and asphalt for western U.S. markets. Sky Quarry is also advancing development initiatives at its PR Spring facility in Utah.For more information, visit <a rel="nofollow" href="https://pr.report/mszq">www.skyquarry.com</a>.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "expect," "anticipate," "believe," "intend," "plan," "will," "may," "should," "estimate," "potential," "project," "continue," and similar expressions, or the negative of such terms. These forward-looking statements include, but are not limited to, statements regarding: the expected timing for the commencement of refinery operations; the anticipated benefits of the Company's strategic position within the Western United States fuel market; expectations regarding refining capacity trends and their impact on the value of refining assets; the expected operational flexibility provided by storage capacity and on-site inventory; the Company's ability to generate cash flow, strengthen its balance sheet, and create shareholder value; the Company's plans for production ramp-up, customer deliveries, and operating margins; and the Company's beliefs regarding its unique market position and competitive advantages.These forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to: risks related to the Company's ability to successfully commence and sustain refinery operations; fluctuations in crude oil prices, refined product prices, and refining margins; the Company's ability to obtain adequate supplies of crude oil feedstock at competitive prices; regional competition from other refineries and fuel suppliers; changes in demand for refined products in the Western United States; the Company's ability to attract and retain customers; risks associated with the operation of refining facilities, including equipment failures, unplanned downtime, and regulatory compliance requirements; the Company's ability to manage costs and maintain operational efficiency; the availability and cost of labor, equipment, and materials; changes in environmental, health, safety, or other regulations affecting the refining industry; the Company's ability to maintain adequate liquidity and working capital to support operations; general economic conditions, including inflation, interest rates, and recessionary pressures; and other factors described in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The forward-looking statements contained in this press release are made as of the date hereof, and except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.Investor Relations Jennifer Standley Director of Investor Relations <a rel="nofollow" href="mailto:ir@skyquarry.com">ir@skyquarry.com</a>SOURCE: Sky Quarry View the original <a href='https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/sky-quarry-enters-production-phase-at-nevadas-only-refinery-1180053'>press release</a> on ACCESS Newswire 
 <img src="https://app.accessnewswire.com/img.ashx?id=1180053" width="0" height="0"/>

SKYQ

Sky Quarry Enters Production Phase at Nevada's Only Refinery

Sky Quarry Eyes July Start at Foreland Refinery, Signals Cash Flow Ramp

<section class="insight" data-version="1">
 <section data-block="information">
 <h3>Information</h3>
 Company enters operations with approximately 10,000 barrels of inventory on-site and more than 100,000 barrels of storage capacity. WOODS CROSS, UT / ACCESS Newswire / June 22, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ)
 </section>

 <section data-block="ai-summary-paragraph">
 <h3>AI Summary</h3>
 Sky Quarry announced Foreland Refinery in Ely, Nevada will begin operations in July, with about 10,000 barrels of on-site inventory and more than 100,000 barrels of storage. As Nevada&#039;s sole operating refinery, Foreland positions Sky Quarry to meet Western demand amid tightening regional capacity. The shift from repairs to production could drive cash flow, operating margins, and a higher valuation over the coming quarters.
 </section>

 <section data-block="ai-summary-bullets">
 <h3>Key Points</h3>
 <ul><li>Foreland Refinery to commence operations in July; on-site inventory ~10,000 barrels.</li><li>Storage capacity exceeds 100,000 barrels; enhances flexibility and throughput.</li><li>Foreland is Nevada&#039;s only operating refinery; strengthens regional supply.</li><li>Management focus shifts to production, cash flow, and margins.</li><li>Company sees Western capacity reductions as a tailwind for Foreland&#039;s value.</li></ul>
 </section>

 <section data-block="companies-mentioned">
 <h3>Companies Mentioned</h3>
 <ul><li>Sky Quarry Inc. (SKYQ): Primary issuer; transitioning to production at Foreland; potential cash flow and margin-driven value realization.</li><li>Foreland Refinery (Nevada) (FORELAND): Core asset; start of production in July; key determinant of near-term cash flow and regional supply resilience.</li></ul>
 </section>

 <section data-block="category">
 <h3>Corporate Developments</h3>
 Industry News / Corporate Developments. The update marks a material transition from pre-operational work to production, with implications for cash flow, margins, and regional supply dynamics in the Western U.S.
 </section>

 <section data-block="market-moving">
 <h3>Market-Moving</h3>
 <ul><li>Western refining capacity tightening may lift Foreland&#039;s relative value.</li><li>On-site inventory and large storage enable early cash flow against ramp.</li><li>Nevada&#039;s fuel-import dependence supports regional demand for Foreland-produced products.</li><li>CA refinery closures add strategic merit to Sky Quarry&#039;s Western footprint.</li></ul>
 </section>

 <section data-block="key-facts">
 <h3>Key Facts</h3>
 <ul><li>Foreland Refinery operations expected to commence in July 2026.</li><li>On-site crude inventory: approximately 10,000 barrels.</li><li>Total storage capacity: more than 100,000 barrels.</li><li>Foreland is Nevada&#039;s only operating refinery.</li><li>Sky Quarry Inc. trades under ticker SKYQ.</li></ul>
 </section>

 <section data-block="trading-thesis">
 <h3>Trading Thesis</h3>
 July start is a near-term catalyst; expect ramp in throughput and cash flow, potentially re-rating SKYQ within a few quarters.
 </section>
</section>


Company enters operations with approximately 10,000 barrels of inventory on-site and more than 100,000 barrels of storage capacity. WOODS CROSS, UT / <a href='https://www.accessnewswire.com/'>ACCESS Newswire</a> / June 22, 2026 / Sky Quarry Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SKYQ">SKYQ</a>) ("Sky Quarry" or the "Company"), an energy infrastructure company focused on domestic refining and resource development, today announced an update on its Nevada refinery operations provided by the Company's Interim Chief Executive Officer, Marcus Laun."As Sky Quarry approaches the commencement of refinery operations at Foreland Refinery in Ely, Nevada ("Foreland"), in my role as the Interim Chief Executive Officer of Sky Quarry, I wanted to provide an update on our progress and discuss the next phase of Sky Quarry's development."At the center of the Sky Quarry story is a simple fact: Sky Quarry controls what we believe is one of the most strategically positioned refining assets in the Western United States - Nevada's only operating refinery."While energy markets often focus on fluctuations in crude oil prices, the more important long-term trend, in my opinion, is the continued reduction of refining capacity across the Western United States," provided Mr. Laun. "As refining capacity exits the market and regional demand for transportation fuels remains resilient, strategically located refining infrastructure is expected to become increasingly valuable."Nevada remains one of the most fuel-import-dependent states in the nation. Despite consuming substantial quantities of gasoline, diesel, and other refined products, the state has historically relied on fuel imported from neighboring regions. Sky Quarry's Foreland Refinery occupies a unique position within that supply chain, with the potential to provide refining capacity directly within Nevada and serve customers throughout the broader Intermountain West region.At the same time, the regional refining landscape continues to evolve. Several large refining facilities in California have recently either ceased operations or announced plans to do so, removing meaningful refining capacity from the Western market. While no single event defines long-term market dynamics, the broader trend toward reduced regional refining capacity reinforces the Company's conviction in the strategic importance of existing refining assets that can meet regional demand.Against this backdrop, Sky Quarry's team has remained focused on preparing Foreland for sustained commercial operations. We are now in the final stages of that process and expect to commence refinery operations in July.Recent work at the Foreland Refinery site has included repairs, upgrades, and enhancements across critical operating systems, including storage infrastructure that provides the Company with more than 100,000 barrels of total storage capacity. This storage capability is expected to provide operational flexibility and represent an important component of the refinery's long-term value."Importantly, Sky Quarry's Foreland Refinery is entering operations with inventory already in place. The Company currently has approximately 10,000 barrels of crude oil and in-process inventory on-site, moving through the refining process. We believe this inventory represents both operational readiness and an immediate working asset as production begins. As operations ramp up, we expect this inventory to provide both operational flexibility and immediate participation in the value-creation process associated with refining crude oil into refined products."Perhaps most importantly, Sky Quarry is approaching a fundamental transition in its corporate evolution. For much of the Company's recent history, management's focus has been centered on repairing infrastructure, securing working capital, strengthening the balance sheet, and preparing Foreland for operations. As refinery operations commence, Sky Quarry's focus shifts toward production, customer deliveries, operating margins, and cash flow generation.This transition marks an important inflection point. The value of the Foreland Refinery has historically been viewed through the lens of its potential. As operations ramp up and throughput increases, the refinery will be increasingly evaluated based on its operational performance, cash-generating capability, and strategic position within the Western fuel market.As a refinery operator, the Company's economics are driven primarily by refining margins rather than crude oil prices alone. Crude oil is the principal feedstock used in operations, and lower feedstock costs can be beneficial when refined product demand and pricing remain healthy. The Company's focus remains on operating efficiently, managing costs, and capturing attractive margins through disciplined execution.Beyond the refinery itself, Sky Quarry now possesses a combination of assets that is increasingly difficult to replicate: refining infrastructure, substantial storage capacity, access to regional crude supply, operating permits, customer relationships, and a strategic location serving a fuel-deficient market. Collectively, these assets position the Company within a sector where replacement refining capacity has become increasingly scarce.Our intended objectives remain straightforward: operate safely, maximize utilization, generate cash flow, strengthen the balance sheet, and create long-term value for shareholders.We believe the months ahead will represent the beginning of a significantly different chapter for Sky Quarry.For years, the Company has worked to position Foreland as a strategic refining asset serving Nevada and the broader Western United States. Today, that effort is transitioning from preparation to production.Sincerely,Marcus Laun Chief Executive Officer Sky Quarry Inc.About Sky Quarry Inc. Sky Quarry is an energy infrastructure company focused on domestic refining and resource development. The Company operates the Foreland Refinery in Nevada, the state's only operating refinery, producing diesel, vacuum gas oil (VGO), naphtha and asphalt for western U.S. markets. Sky Quarry is also advancing development initiatives at its PR Spring facility in Utah.For more information, visit <a rel="nofollow" href="https://pr.report/mszq">www.skyquarry.com</a>.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "expect," "anticipate," "believe," "intend," "plan," "will," "may," "should," "estimate," "potential," "project," "continue," and similar expressions, or the negative of such terms. These forward-looking statements include, but are not limited to, statements regarding: the expected timing for the commencement of refinery operations; the anticipated benefits of the Company's strategic position within the Western United States fuel market; expectations regarding refining capacity trends and their impact on the value of refining assets; the expected operational flexibility provided by storage capacity and on-site inventory; the Company's ability to generate cash flow, strengthen its balance sheet, and create shareholder value; the Company's plans for production ramp-up, customer deliveries, and operating margins; and the Company's beliefs regarding its unique market position and competitive advantages.These forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to: risks related to the Company's ability to successfully commence and sustain refinery operations; fluctuations in crude oil prices, refined product prices, and refining margins; the Company's ability to obtain adequate supplies of crude oil feedstock at competitive prices; regional competition from other refineries and fuel suppliers; changes in demand for refined products in the Western United States; the Company's ability to attract and retain customers; risks associated with the operation of refining facilities, including equipment failures, unplanned downtime, and regulatory compliance requirements; the Company's ability to manage costs and maintain operational efficiency; the availability and cost of labor, equipment, and materials; changes in environmental, health, safety, or other regulations affecting the refining industry; the Company's ability to maintain adequate liquidity and working capital to support operations; general economic conditions, including inflation, interest rates, and recessionary pressures; and other factors described in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The forward-looking statements contained in this press release are made as of the date hereof, and except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.Investor Relations Jennifer Standley Director of Investor Relations <a rel="nofollow" href="mailto:ir@skyquarry.com">ir@skyquarry.com</a>SOURCE: Sky Quarry View the original <a href='https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/sky-quarry-enters-production-phase-at-nevadas-only-refinery-1180053'>press release</a> on ACCESS Newswire 
 <img src="https://app.accessnewswire.com/img.ashx?id=1180053" width="0" height="0"/>

Sky Quarry announced Foreland Refinery in Ely, Nevada will begin operations in July, with about 10,000 barrels of on-site inventory and more than 100,000 barrels of storage. As Nevada's sole operating refinery, Foreland positions Sky Quarry to meet Western demand amid tightening regional capacity. The shift from repairs to production could drive cash flow, operating margins, and a higher valuation over the coming quarters.

Sky Quarry Enters Production Phase at Nevada's Only Refinery

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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