New York, June 10, 2026, 19:30 EDT
- Sky Quarry ended regular trading at $1.91, up 22.44%. Volume was 27.28 million shares, well above the 1.90 million average Google Finance lists. Shares later changed hands at $2.38 after hours at 7:30 p.m. ET, according to Public.
- Investors are focused on if the company manages to bring its Eagle Springs refinery back online in June. The plant was shut for boiler repairs and feedstock issues that hit first-quarter revenue hard.
- Sky Quarry’s rally comes with big risk. The company said it had $66,828 in cash as of March 31 and warned it may not be able to keep operating.
Sky Quarry Inc. (SKYQ) was active among microcap energy names Wednesday. Shares closed at $1.91, adding 22.44%, and continued higher after the bell. Traders are watching to see if Sky Quarry can hit its June target to restart its refinery and get back to production. The company reported nearly zero sales in the first quarter following a shutdown.
The difference since Tuesday is the tape. SKYQ closed at $1.58 in Public’s after-hours table following June 9, and $2.38 after the June 10 session. On Wednesday, after-hours showed a range between $1.78 and $3.70. Google Finance still lists the company with a $9.16 million market cap and 4.80 million shares out, so moves like this point to momentum, but also raise liquidity red flags.
Sky Quarry’s trade wasn’t driven by new earnings but by an old deadline in the filings. The latest quarterly report, filed May 15, said repairs at Eagle Springs refinery were done, with the plant gearing up to reopen. Operations would start once feedstock was secured. The same filing showed they expected the facility to be running by the end of Q2, with production set to start in June.
June could be key for Sky Quarry. The company saw first-quarter net sales slump to just $383, far below the $6.33 million it booked a year ago. It blamed the lack of refinery operating revenue on repairs, which wrapped up after the quarter closed. Net loss got smaller at about $2.32 million versus $3.33 million last year, but the big drop in revenue puts the restart in question.
Sky Quarry drew fresh interest after a June 8 Equity Insider note on GlobeNewswire, putting the focus on its low-carbon fuel move. The commentary said Sky Quarry is turning toward making sustainable aviation fuel, or SAF, a jet fuel that uses lower-carbon feedstocks instead of regular crude. Market IQ Media Group was paid for media distribution and content for Sky Quarry, and the release was reviewed and greenlit for the company, so the piece is sponsored, not independent analysis.
Sky Quarry on May 7 said it signed a non-binding memorandum of understanding with Southern Energy Renewables and DevvStream to look at low-carbon fuel development, refinery integration and SAF-related projects. The MOU is a framework deal, not a binding contract. CEO Marcus Laun called it “a significant expansion of Sky Quarry’s development platform.” ACCESS Newswire
Sky Quarry is moving into conventional oil. The company on June 3 announced plans to start drilling and producing crude in Nevada’s Railroad Valley, with the goal to process that oil at its Foreland Refinery, which it calls Nevada’s only running refinery. CEO Laun said in the release, “More production would strengthen Nevada’s energy infrastructure and increase the amount of locally produced crude available for refining in-state.” ACCESS Newswire
Resource potential is there, but wording matters. In 2025, a U.S. Geological Survey report put Nevada’s undiscovered, technically recoverable oil under federal land at 1,407.3 million barrels. Technically recoverable refers to oil that’s possible to extract with today’s technology, but it doesn’t say anything about whether it makes sense to produce or qualify as reserves.
Traders are circling Sky Quarry’s PR Spring asset in Utah again. Back in May, the company put out an RFP for partners on the PR Spring oil sands site, which it says holds around 180 million barrels and covers about 5,900 acres. There’s a processing plant there already. Still, Sky Quarry flagged the property as exploration-stage and said its resource numbers aren’t the same as proved reserves.
Risk is still front and center in the trade. The refinery restart might be delayed, feedstock deals may not work out, the MOU and PR Spring process might fail to produce binding agreements, and new funding could dilute current holders. As of March 31, Sky Quarry reported cash of $66,828 against about $16.4 million in current liabilities, and said it will keep needing more cash. It also runs an at-the-market share sale, letting it sell shares into the market over time.
Traders are moving fast on SKYQ, looking at the stock’s track record. Despite the action Wednesday, shares are still well under the posted 52-week high of $19.45. SKYQ ran a 1-for-8 reverse split in March, a common move among small caps to shore up their exchange listing or change a slumping share float.
The real test ahead isn’t more upbeat headlines. What matters next is an actual operating update: whether Eagle Springs has come back online, if they’ve locked in feedstock, and if the June production target can start bringing in revenue before the company’s financing pressures swamp the turnaround narrative.
