Sky Quarry plans to coordinate capital introductions, financing support, and potential long-term crude offtake agreements with participating producers.
The next phase covers producer selection, diligence, crude quality and logistics review, preliminary offtake terms, and drilling and development schedules.
Nevada oil development program backed by third-party capital
Sky Quarry advanced a proposed Nevada oil exploration and production initiative targeting up to USD 50 million of third-party investment.
Funding would go directly into qualified Nevada producers or projects, avoiding issuance of additional Sky Quarry common equity.
The program targets lower-cost regional crude supply for Nevada refining operations, aiming to lift utilization, margins, and cash flow.
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