Sky Quarry’s Nevada Refinery Strengthens as Brent Passes $110/bbl and California Cuts 290,000 bpd
Sky Quarry’s Foreland Refinery, Nevada’s sole facility with 5,000 bpd capacity, gains strategic value as Brent crude tops $110/bbl and California closures cut 290,000 bpd of regional supply. The company is in talks to boost local crude supply and explores its $50m PR Spring bitumen asset holding 180 million barrels.
1. Foreland Refinery Strategic Position
Sky Quarry operates the Foreland Refinery, the only refinery in Nevada, with permitted capacity of approximately 5,000 barrels per day. The facility processes crude into diesel, vacuum gas oil, naphtha and liquid paving asphalt to serve markets across Nevada and the Intermountain West, reducing dependence on out-of-state fuel imports.
2. Oil Price Surge and Local Supply
Brent crude oil surged past $110 per barrel, driven by disruptions in the Strait of Hormuz and strong fuel demand, while California’s permanent closure of refineries has removed roughly 290,000 barrels per day of capacity. Sky Quarry is engaging with regional drilling partners to secure increased local crude volumes for its refinery.
3. PR Spring Bitumen Development
The company also holds the PR Spring facility in eastern Utah, a $50 million investment focused on extracting heavy oil from asphaltic bitumen ore. The site contains an estimated 180 million barrels of resource, and Sky Quarry is evaluating development pathways to leverage improved economics at elevated crude prices.