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October 30, 2026 | Unsubscribe
Hello!
We wanted to give you a quick intraday update on our new alert, Sky Quarry Inc. (NASDAQ: SKYQ).
SKYQ opened today at 2.19 and has so far rallied to a high of 2.27.
SKYQ has a 20 and 50 day moving average of 2.32 and 2.57 – a breakout and close above this level could present increased upside potential.
SKYQ has a 200 day moving average of 3.38, +54% from today’s open.
SKYQ has multiple growth catalysts including most recently, 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”
“WOODS CROSS, Utah, Oct. 22, 2026 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or the "Company"), an energy infrastructure company focused on domestic refining and resource development, today 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.
"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."
Diesel Market Opportunity
Salt Lake City diesel rack prices indicated a crack spread of approximately $133 to $136 per barrel as of October 21, 2026, compared with approximately $33 per barrel in January, which represents an increase of about 300%.
The lower wholesale diesel price used in the October comparison was approximately $231 per barrel. Strong regional diesel pricing presents an opportunity for Sky Quarry as refinery throughput increases.
Production begins against a favorable diesel market backdrop. In its October 2026 Short-Term Energy Outlook, the U.S. Energy Information Administration forecasted diesel crack spreads remaining above historical averages through 2027.
The $133 to $136 range is a regional pricing indicator calculated from market benchmarks. Sky Quarry's actual refining margins will reflect its own feedstock acquisition costs, transportation, operating expenses, product yields, and realized sales prices.
Pricing basis: The calculation uses October 21 Salt Lake City OPIS Low Rack GROSS and Rack Average GROSS diesel prices displayed by Flyers Energy of $5.4991 and $5.5633 per gallon, respectively, multiplied by 42 gallons per barrel, less a delayed December WTI futures quote of $97.86 per barrel observed at 2:35 p.m. Central time on October 21. The resulting differences of $133.10 and $135.80 per barrel are rounded. The rack postings and futures quote are as of different times.
Increasing Throughput and Commercial Sales
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. Sky Quarry intends to increase throughput progressively while strengthening operating reliability, securing additional crude supplies, optimizing product yields, and expanding commercial sales arrangements.
The Company is also evaluating opportunities to broaden its crude sourcing network, including increased use of regional supplies and potential future integration with its PR Spring resource development operations in Utah. Management expects to provide additional updates as production volumes increase and commercial operations develop.
Products Serving Western U.S. Energy Markets
Diesel and distillate fuels. Products for regional transportation, agriculture, mining, and industrial fuel markets.
Vacuum gas oil. An intermediate product marketed to refiners and industrial customers for further processing into transportation fuels and other petroleum products.
Naphtha. A light petroleum fraction used as feedstock for gasoline blending, further refining, and other industrial applications.
Liquid paving asphalt. Products for road construction, paving, and infrastructure maintenance.
These products provide multiple revenue opportunities and are expected to allow the Company to optimize its product mix based on feedstock characteristics, operating conditions, and regional commodity prices.”
We are continuing to monitor SKYQ for a sustainable breakout higher.
Happy Trading!
SmallCapStocks Team
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