Sky Quarry Issues RFP for Development of 180 Million Barrel PR Spring Oil Sands Asset
Sky Quarry Inc. is seeking proposals to fast-track the development of its 180-million-barrel oil sands resource in Utah. The initiative aims to address tightening fuel supply in the Western U.S. market by leveraging existing infrastructure and production potential.
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Sky Quarry Inc. has issued a Request for Proposals (RFP) to attract partners for the development of its PR Spring oil sands asset in Utah, which contains approximately 180 million barrels of oil. This project encompasses around 5,900 acres and includes a processing facility supported by over $50 million in prior investments.
The PR Spring site is strategically positioned in the Uinta Basin, an important oil and natural gas region facing supply challenges due to limited refining capacity. The RFP aims to engage industry partners to enhance development efforts amid increasing demand for domestic resources, driven by refinery closures and regulatory constraints.
The company also operates the Foreland Refinery in Nevada, the only permitted refinery in the state, which may facilitate an integrated resource-to-product pathway. This initiative may significantly impact the regional energy landscape given the current supply constraints.
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