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October 30, 2026 | Unsubscribe
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New Alert: Sky Quarry Inc. (NASDAQ: SKYQ)
SKYQ is our new NASDAQ high growth energy alert.
SKYQ is one of the most unique small-cap energy stories we have come across.
SKYQ could be setting the stage for the next breakout higher and what is happening in the oil sector right now goes beyond headlines.
The structural shift in energy demand and supply is not going away.
SKYQ is a NASDAQ listed “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, the state's only crude oil refinery, producing diesel, vacuum gas oil, naphtha and liquid paving asphalt.”
SKYQ is also “developing its PR Spring facility in Utah, where the Company is advancing technologies for hydrocarbon recovery from oil-bearing resources and waste asphalt shingles.”
This “closed-loop technology aims to enable efficient oil recovery while reducing landfill waste and supporting domestic energy production”.
Here is a number that most people have never heard: "700 million tons of asphalt shingles have been dumped into landfills since 1960."
Approximately "15 million tons are dumped into landfills annually."
These shingles take "300 years to decompose."
And "currently, there are no sustainably viable solutions for the disposal of waste asphalt shingles."
Think about that. Every time a roof gets replaced - and roughly "80% of North American homes have asphalt shingle roofing" - the old shingles have virtually nowhere to go except a landfill.
An average house generates "1.5 to 3 tons of roofing tear-offs" per replacement.
The problem is massive, growing, and entirely unsolved.
And the U.S. EPA is increasingly demanding that it change.
SKYQ has the solution.
At the core of SKYQ's platform is a proprietary technology called ECOSolv - a closed-loop extraction process that transforms shredded waste shingles into multiple sellable products.
The process is straightforward: grind the shingles, mix with solvent, extract the bitumen, then distill and refine.
What makes ECOSolv exceptional are the recovery rates:
Material recovery rate "up to 95%"
Recycles "up to 99% of its solvent"
Recovers "up to 99% of hydrocarbons"
One ton of processed waste shingles yields not one product but seven distinct revenue streams: sustainably produced oil and diesel fuel, liquid asphalt tack coating, naphtha, limestone powder, fiberglass, aggregate granules, and carbon credits.
If processed at scale, the 15 million tons of asphalt shingle waste generated annually would equate to the recovery of "20-22 million barrels of oil and between 9-11 million tons of valuable materials, a market valued up to $4.4 billion."
What makes SKYQ's economic model genuinely compelling is that the company gets paid before it even starts processing.
When roofing contractors drop off their shingle waste, they pay SKYQ a tipping fee. Those fees range from "$45 to $150 per ton." The average tipping fee in Southern California is "$94 per ton."
The design of the model means that "nearly all revenue generated from products recovered from waste asphalt shingles contributes directly to the profit line" - because the tipping fees are anticipated to "cover most, if not all, of the costs to process and break down the shingles."
In other words: get paid to receive the raw material, then sell everything that comes out of it. Each of the seven product streams - oil, diesel, carbon credits, granules, limestone powder, fiberglass, and asphalt coating - represents an additional layer of margin on top of a feedstock the company was paid to accept.
Most small energy companies own one piece of the puzzle.
SKYQ controls the entire value chain from extraction to refining.
The company’s PR Spring Extraction Facility is located near Vernal, Utah, in the Uinta Basin, one of the primary oil and natural gas producing regions in the Western United States.
“PR Spring asset spans approximately 5,900 acres and includes a constructed processing facility representing approximately $60 million in prior investments”.
“The PR Spring asset is supported by prior engineering and feasibility work that outlines meaningful production potential at scale, including:
~1.5 million tons per year of feedstock processing capacity (August Brown, LLC feasibility study, October 2022)
Expected production cost of approximately $35 per barrel
~2,000 barrels¹ per day of heavy oil production capacity upon development”
The Company believes the facility requires only incremental capital - estimated at $4 to $5 million in CapEx - to reach production readiness.”
In addition, the company’s “Eagle Springs is Nevada's only crude oil refinery, with a stated nameplate processing capacity of approximately 5,000 barrels of crude oil per day”.
“The facility includes crude oil processing, product handling, and storage infrastructure designed to support a range of feedstocks and refined products.
The refinery's eastern Nevada location provides access to crude supplies from Nevada, Utah, and surrounding producing regions, with proximity to petroleum product markets throughout the Intermountain West.”
As permitting new refining capacity becomes increasingly difficult, assets like Sky Quarry's Eagle Springs Foreland refinery represent scarce, hard-to-replicate infrastructure.
From the company’s investor presentation, the total asset picture is striking:
PR Spring Extraction Facility replacement cost: "$70 million"
Foreland Refinery replacement cost: "$70 million"
Hydrocarbon assets (McDaniel and Associates NPV): "$166 million"
Patent portfolio: valuation appraisal underway
Refinery license: valuation appraisal underway
That is over 300 million dollars in identified hard asset value - with two additional appraisals not yet completed - on a company trading at a fraction of that figure.
One of the most powerful long-term drivers for SKYQ is not something the company has to sell - it is something regulators are forcing into existence.
Across the United States, states and municipalities are “mandating diversion of construction and demolition waste from landfills”:
Austin: "50%" diversion mandate
Seattle (King County): "80%" diversion mandate
California: "up to 75% in some areas"
As these regulations tighten and spread, roofing contractors across the country will have fewer and fewer options for disposing of shingle waste.
SKYQ is building the infrastructure to be one of the only viable alternatives to a landfill.
As Western refining capacity contracts, SKYQ's Nevada refinery becomes increasingly strategically positioned.
The sustainable fuel market is "expected to triple over the next 20 years" and major transportation operators like Union Pacific are "actively pursuing efforts to decarbonize operations through increased use of low-carbon fuels."
SKYQ is not thinking small.
The company has laid out a phased national expansion strategy for its modular collection facilities - described as "fast to deploy, built to scale" and "designed for rapid expansion into high opportunity regions."
Target markets include Las Vegas, Los Angeles, San Diego, Oakland, Seattle, Portland, Phoenix, Albuquerque, Denver, Boise, San Antonio, Houston, Atlanta, Charlotte, Florida, Chicago, and Vermont.
Each modular unit is "expected to provide up to 100,000 tons of shingle feedstock while producing sellable byproducts."
The units are "engineered for scalability and cost efficiency" - designed to be placed "close to the waste source and end markets" to "lower logistics costs."
The model is "replicable" with "minimal capex and designed to repeat across regions" - and each unit is "revenue generating" from day one through tipping fees and byproduct sales.
SKYQ has announced multiple accomplishments recently.
In August, the company announced:
“Sky Quarry Highlights Growing Nevada Oil Exploration Activity and Potential New Regional Supply for Foreland Refinery”
SKYQ “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.”
"The USGS assessment demonstrates that Nevada possesses a potentially significant domestic oil resource, while the recent lease sales and drilling permits show that operators are taking tangible steps to evaluate that potential," said Marcus Laun, Chief Executive Officer of Sky Quarry. "Nevada has the geological resource, an established petroleum-producing region and, through Foreland, an in-state refinery that we believe can provide a natural market for successful new production."
In addition, the company also announced:
“Sky Quarry Advances $50 Million Nevada Oil Development Program to Support Lower-Cost Regional Feedstock”
SKYQ “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 Sky Quarry's 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 Sky Quarry common equity. The structure is therefore designed to support new drilling activity while avoiding dilution to existing Sky Quarry shareholders.
Sky Quarry expects to assist qualified producers by coordinating access to investment banking, private credit and institutional capital relationships. Subject to technical, financial and regulatory diligence, the Company may also enter into long-term crude oil offtake arrangements with participating producers.
Successful production developed under the program could potentially be purchased by Sky Quarry's refining operations in Nevada, creating a direct connection between upstream resource development and the Company's downstream refining infrastructure.”
Key Highlights
“Targeted investment: Up to $50 million
Funding structure: Third-party investments made directly in qualified Nevada producers or projects
Sky Quarry equity issuance: No additional Sky Quarry common equity is contemplated under the proposed structure
Sky Quarry's role: Capital introductions, financing coordination and potential crude oil offtake arrangements
Strategic objective: Increase regional crude availability, reduce delivered feedstock costs and support higher refinery utilization
Potential shareholder benefit: Improved operating margins, cash flow and long-term value without relying on additional equity dilution”
Here are some of the company’s comments from this press release:
"This is not simply an exploration initiative-it is a potential long-term feedstock strategy for our Nevada refining operations," said Marcus Laun, Chief Executive Officer of Sky Quarry. "Our objective is to help direct third-party capital into promising Nevada oil projects, provide successful producers with a potential market for their crude and create an opportunity for Sky Quarry to secure lower-cost regional feedstock without issuing additional common equity."
As the company further explains:
“For Sky Quarry, 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.”
"Nevada has significant energy resources, but many promising exploration opportunities remain undercapitalized," Laun continued. "By combining access to capital with potential offtake arrangements and downstream refining capabilities, we believe Sky Quarry can help address several of the principal barriers facing independent producers while strengthening the regional energy supply chain."
In September, the company announced:
“Sky Quarry Restarts Nevada's Only Crude Oil Refinery”
SKYQ “announced that 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 Company's wholly owned subsidiary, Foreland Refining Corporation.”
As the company further explains:
“In preparation for the restart, Sky Quarry 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. The Company has approximately 15,000 barrels of crude oil inventory on hand and expects additional supply as operations progress.”
Here are some of the company’s comments from this press release:
"Receiving this permit and restarting Nevada's only crude oil refinery is a major step for Sky Quarry," said Marcus Laun, Interim Chief Executive Officer of Sky Quarry. "Nevada has relied on fuel refined elsewhere for too long. Our job now is to ramp Eagle Springs toward its full operating potential and make Nevada-refined products a more meaningful part of the region's supply."
Furthermore:
“The U.S. Geological Survey estimates that federal lands in Nevada contain approximately 1.4 billion barrels of undiscovered, technically recoverable oil resources. If more Nevada crude comes to market, Eagle Springs could refine suitable barrels in-state and grow with Nevada's oil industry.
Separately, Sky Quarry continues discussions regarding its previously announced farm-in opportunity at PR Spring and potential collaboration involving its 7-megawatt power generation capacity. The Company expects to provide updates as those discussions progress.”
Last week, the company announced:
“Sky Quarry Confirms Production at Nevada Refinery Amid Strong Diesel Demand”
“Company targets higher throughput and sales at Eagle Springs with nameplate capacity of approximately 5,000 barrels of crude oil per day”
SKYQ “announced that refined petroleum production is underway at its Eagle Springs Refinery near Ely, Nevada. Operated by wholly owned subsidiary Foreland Refining Corporation, the refinery produces diesel and distillate fuels, vacuum gas oil, naphtha, and liquid paving asphalt.
Production follows the Company's receipt of its Nevada air permit in September, completion of refinery repairs and upgrades, and successful restart. With production underway, Sky Quarry is focused on increasing throughput, expanding product sales, and generating operating cash flow.”
Here are some of the company’s comments from this press release:
"Moving from a refinery restart to actual petroleum production is a tremendous milestone for Sky Quarry and our shareholders," said Marcus Laun, interim Chief Executive Officer of Sky Quarry. "The plant is operating as expected. We are excited by the support we are getting from our community of suppliers and customers. The refinery operates in a niche within the larger regional petroleum market."
Laun continued, "Our refinery produces the products that keep the economy moving — diesel for transportation and industry, vacuum gas oil and naphtha for downstream markets, and asphalt for roads and infrastructure. We now have the opportunity to turn those products into meaningful revenue and cash flow while steadily increasing production."
We believe SKYQ could be positioned for significant upside.
Make sure to do your own due diligence.
Happy Trading!
SmallCapStocks Team
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