Sky Quarry Announces Strategic Growth Plan to Achieve Full Production Capacity at its Foreland Refinery
"Scalable roadmap sets stage for up to 800,000 barrels annually through steady operations and targeted investments"
WOODS CROSS, Utah, May 22, 2025 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, today announced a comprehensive strategic roadmap for its wholly owned subsidiary, Foreland Refining Corporation ("Foreland"). The plan is designed to scale operations to a sustained production rate of up to 800,000 barrels per year.
Titled the "Path to Full Production," the phased plan positions Foreland, Nevada's only operating refinery, as a key piece of regional energy infrastructure, helping to stabilize fuel supply across the Western U.S. Each stage is supported by clearly defined operational, technical, and financial benchmarks.
The Refinery is currently operating at up to 3,600 barrels per day, with expansion efforts already underway. The roadmap outlines four key production milestones: 45,000, 60,000, 80,000, and 100,000 barrels per month. Foreland expects to reach this peak level during periods of high seasonal demand. These are monthly targets, with production rising in the summer and easing back in winter. At full capacity, this translates to an annualized peak rate of 800,000 barrels, though actual output will vary seasonally.
"This initiative is designed to sharpen our operations and strengthen our bottom line, setting the stage for expected and sustained growth," said David Sealock, Chairman & CEO of Sky Quarry. "Refining is a long game, and Foreland is building the foundation to be a high-integrity, high-performance facility for years to come."
Key components of the strategic growth plan include:
- Operational Efficiency: Reducing downtime from shutdowns and startups improves safety and extends equipment life.
- Workforce Expansion: New positions in operations, maintenance, and supervision will support the transition to higher capacity.
- Stronger Supply and Customer Relationships: Steady production attracts long-term contracts, stronger pricing, and more reliable partnerships.
- Revenue Growth Potential: Each production milestone significantly increases the refinery's revenue-generating capacity.
To support these goals, the Company has implemented a proactive maintenance and risk management framework. Infrastructure upgrades and crude supply contracts are already in progress to ensure safe and uninterrupted operations in anticipation of increased production.
"These projects aren't just about increasing production, they're about building strong teams and lasting systems," Sealock added. "I want to thank Cyla Apache, our Vice President, for spearheading this project from concept to implementation with vision and precision. I'm also grateful to our refinery staff for their hands-on expertise, to Kevin Arrington at TAR360 for his guidance, and to the University of Utah research team, whose work is helping us reduce energy use and lower utility costs. We're confident in our path forward and proud of what it means for our community, customers, and shareholders."
The Refinery also intends to expand its capabilities to include recycled heavy oil from waste materials, expected to be sourced from PR Spring. The Company believes this roadmap will help support Sky Quarry's mission to build a more sustainable and resilient energy future through operational excellence, safety, and long-term value creation.
About Sky Quarry Inc.
Sky Quarry Inc. (NASDAQ:SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit skyquarry.com.
Forward-Looking Statements
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Investor Relations
Jennifer Standley
Director of Investor Relations
[email protected]
Company Website
www.skyquarry.com
