Sky Quarry begins production at Eagle Springs refinery

Eagle Springs Refinery, operated by Sky Quarry Inc., began refined petroleum production in Ely, Nevada, according to a press release. The facility, owned by subsidiary Foreland Refining Corporation, produces diesel, distillate fuels, vacuum gas oil, naphtha, and liquid paving asphalt. Production commenced after securing a Nevada air permit in September and completing necessary repairs and upgrades.

Sky Quarry's interim CEO, Marcus Laun, expressed excitement about the milestone for the company and its shareholders. The refinery's capacity is approximately 5,000 barrels of crude oil per day. As of Tuesday, the crack spread for Salt Lake City diesel was $133 to $136 per barrel, compared to $33 per barrel in January. Sky Quarry aims to increase throughput, secure additional crude supplies, and expand commercial sales arrangements.

The company is also exploring opportunities to broaden its crude sourcing network, potentially integrating with PR Spring resource development operations in Utah. Located in eastern Nevada, the refinery's proximity to crude supplies from Nevada, Utah, and surrounding regions, as well as petroleum product markets throughout the Intermountain West, provides strategic advantages.

Sky Quarry is an energy infrastructure company focused on domestic refining and resource development.