Sky Quarry shares surge 17.5% intraday after completing $70M Foreland Refinery upgrades boosting operational readiness.

Sky Quarry surged 17.5% intraday following its announcement of completing high-impact upgrades at the 5,000 bpd Foreland Refinery, the only permitted refinery in Nevada. The upgrades, including boiler system overhauls, condenser replacements, and water-oil separation restoration, enhanced operational reliability and readiness to serve constrained western fuel markets. The refinery’s $70 million replacement value and strategic positioning ahead of the 2026 Benicia refinery shutdown positioned Sky Quarry to capitalize on tightening supply dynamics. Despite the company’s weak financial metrics, the news highlighted its ability to strengthen asset value and operational leverage in a high-barrier infrastructure sector, driving immediate market optimism.