Why These Energy Stocks are Gaining This Week

2. Sky Quarry Inc. (NASDAQ:SKYQ)

Share Price Gains Between Apr. 9 – Apr. 16: 30.27%

Sky Quarry Inc. (NASDAQ:SKYQ) is an integrated energy solutions company, created to address the environmental issues caused by the landfill disposal of waste asphalt roofing shingles.  

The share price of Sky Quarry Inc. (NASDAQ:SKYQ) continues to surge after the company recently announced that it has signed a non-binding LOI with Southwest RAS to advance asphalt shingle recycling in the state of Illinois. SKYQ estimates that the region produces approximately 1.2 million tons of asphalt shingle waste annually, which, if fully recycled, could yield the equivalent of 1.5 million barrels of oil. The company is working on a national expansion strategy and recently revealed the successful completion of its 2024 capital expenditure program for its flagship hydrocarbon extraction site, PR Spring, and the recent refurbishment of its Foreland Refinery in anticipation of increased capacity in 2025.