Sky Quarry shares surge 74.70% intraday as company negotiates production increase for Foreland refinery and regional supply value grows amid reduced California refining capacity.

Sky Quarry surged 74.70% intraday, driven by two key developments: first, the company announced on April 2 that it is negotiating with a Nevada crude oil company to increase production to secure feedstock for its sole operating Foreland refinery. Second, on April 2, Brent crude broke above $110 per barrel, while California’s refining capacity dropped by approximately 290,000 barrels per day, highlighting the regional value of Sky Quarry as Nevada’s only refinery with a 5,000 barrels-per-day capacity.