Sky Quarry shares surge 20.32% intraday after completing high-impact Foreland Refinery upgrades, boosting operational readiness and strategic value in constrained markets.

Sky Quarry (NASDAQ:SKYQ) surged 20.32% intraday following the announcement of completed high-impact upgrades at its Foreland Refinery, the only permitted 5,000-barrel-per-day facility in Nevada. The upgrades, including boiler system enhancements, condenser replacements, and infrastructure repairs, improved operational reliability and readiness, positioning the refinery to capitalize on tightening regional fuel markets amid the Benicia refinery’s April 2026 shutdown. With an estimated $70 million replacement value, Foreland’s strategic role in supplying critical industries like lithium production and precious metals mining underscores its scarcity value. The CEO highlighted the asset’s potential to meet elevated summer demand, reinforcing its long-term cash-flow prospects. The upgrades directly address supply constraints in a logistically complex market, aligning with the stock’s sharp intraday rally.