Welcome to our dedicated page for Koil Energy Solutions news (Ticker: KLNG), a resource for investors and traders seeking the latest updates and insights on Koil Energy Solutions stock.
Koil Energy Solutions (KLNG) delivers specialized engineering solutions for subsea and offshore energy operations worldwide. This page aggregates all official company announcements, technical developments, and strategic updates for investors and industry professionals.
Access real-time insights into KLNG's subsea infrastructure projects, equipment innovations, and market expansions. Key updates include earnings reports, partnership announcements, and progress on initiatives like Brazil's offshore energy sector.
Content spans operational milestones, regulatory filings, technology patents, and executive leadership changes. Regular updates ensure stakeholders stay informed about KLNG's role in advancing subsea engineering solutions for complex marine environments.
Bookmark this page for streamlined access to verified KLNG developments. Combine our updates with SEC filings and market analysis tools for comprehensive investment research.
KOIL Energy Solutions (OTCQB: KLNG) has announced the appointment of Mads Andersen as an independent, non-executive director to its Board of Directors, effective April 22, 2025. Andersen brings significant industry expertise as the current CEO of Norway-based Aibel ASA, a company with 5,000 employees and annual revenue of $1.5 billion.
Andersen's extensive background includes over 30 years in the international oil & gas and energy services industry, having served as Divisional President at OneSubsea (SLB) and Executive Vice President at Aker Solutions. He holds a master's degree in mechanical engineering from the University of Glasgow.
According to Board Chairman Mark Carden, Andersen's appointment aligns with KOIL Energy's growth strategy and international ambitions, particularly valued for his experience in international business development, growth strategy, and M&A.
KOIL Energy Solutions (OTCQB: KLNG) has appointed Kurt Keller as Chief Financial Officer, effective April 22, 2025. Keller brings two decades of financial leadership experience, having successfully scaled middle-market companies from $20 million to $100 million in revenue.
Keller's previous roles include executive positions at PurgeRite and SunGrid Holdings, CFO at Mantis Innovation Group (2018-2022), and CFO at Navasota Energy Services (2007-2017). He also provided advisory services at Deloitte (1999-2006). Keller holds a BA in Economics from Baylor University, an MBA from Vanderbilt University, and both CFA and CMA certifications.
CEO Erik Wiik emphasized Keller's expertise in scaling businesses through organic growth and M&A, highlighting the importance of financial discipline in meeting commitments to stakeholders.
KOIL Energy Solutions (OTCQB: KLNG), a provider of controls infrastructure for subsea oil and gas fields, has announced its participation in the Planet MicroCap Showcase: VEGAS 2025 investor conference. The company's presentation is scheduled for Wednesday, April 23, 2025, at 2:30 PM PST at the Paris Hotel & Casino in Las Vegas.
CEO Erik Wiik will lead the presentation and conduct a Q&A session. The event will be accessible via webcast, and investors can schedule one-on-one meetings with company representatives at the conference venue.
KOIL Energy Solutions (OTCQB: KLNG) reported strong financial results for Q4 and full year 2024. The company achieved Q4 revenue of $6 million, up 48% year-over-year, with Modified EBITDA of $1 million. For the full year 2024, revenue reached $23 million, also marking a 48% increase from 2023.
The company's turnaround was evident in its financial metrics, with full-year gross margin improving to 38% from 32% in 2023. Net income reached $2.6 million in 2024, compared to a loss of $1.6 million in 2023, resulting in diluted earnings per share of $0.21. Working capital stood at $5.7 million, including $3.4 million in cash.
Key 2024 achievements included winning contracts for subsea distribution equipment, advanced maintenance services, Bend Stiffener Latchers, and a subsea safety control system. The company expanded internationally with a new facility in Brazil and formed a strategic alliance with Norway-based SubseaDesign AS.
Koil Energy Solutions (OTCQB: KLNG), a deepwater energy production and distribution equipment and services specialist, has scheduled its fourth quarter and full year 2024 earnings release for Tuesday, April 15, 2025, before market opening.
The company will host an investor conference call to discuss Q4 2024 results on the same day at 10:00 am Eastern Time. Investors can participate through a webcast or dial-in options, with toll-free access at 1-833-630-1956 and international dial-in at 1-412-317-1837. The earnings release and conference call replay will be available on the company's website under the Investors section.
Koil Energy Solutions (OTCQB: KLNG) has announced a delay in filing its Annual Report on Form 10-K for fiscal year 2024, extending beyond the original March 31, 2025 deadline. The company will utilize a 15-day extension granted by the SEC due to the discovery of a material weakness in internal control over financial reporting.
The delay stems from the need to complete additional audit procedures following the identification of a $140,000 accounting adjustment related to expired stock options that were incorrectly reversed under Accounting Standards Codification 718. Despite this material weakness, the company states this adjustment is not expected to materially impact its financial position or operations.
Notably, KLNG anticipates reporting profitable growth in revenues for both Q4 and full-year 2024 compared to previous periods. The company plans to announce a new filing date and earnings call timing soon.
Koil Energy Solutions (OTCQB: KLNG), a deepwater energy production and distribution equipment and services specialist, has scheduled its fourth quarter and full year 2024 earnings release for Monday, March 31, 2025, before market opening.
The company will host an investor conference call to discuss the results on the same day at 10:00 am Eastern Time. Investors can participate through a webcast or by using toll-free (1-833-630-1956) and international (1-412-317-1837) dial-in numbers.
KOIL Energy Solutions (OTCQB: KLNG) has secured a significant contract to provide Multi-Quick Connector (MQC) Plates for a subsea project in the Gulf of America. The equipment will control high-pressure systems for a U.S. independent energy company's subsea field.
The MQC plates will distribute hydraulic control fluid to regulate oil and gas production and chemical injections for flow assurance. The project features KOIL's advanced 20,000 psi technology and represents a repeat order from an existing client.
The contract scope includes engineering, procurement, fabrication, assembly, and testing at KOIL's Houston facility, with final delivery scheduled for Q4 2025.
KOIL Energy Solutions (OTCQB: KLNG) and Norway's SubseaDesign AS have announced a strategic alliance to advance subsea technology development. The partnership, announced on March 04, 2025, aims to enhance R&D collaboration and project execution in response to growing global demand for innovative subsea solutions.
The alliance focuses on strengthening capabilities in subsea tieback and field developments, with both companies bringing their specialty products and services expertise to the table. SubseaDesign's CEO Thomas Andreassen emphasized the partnership's goal to deliver cutting-edge technologies and tailored solutions, while KOIL Energy's CEO Erik Wiik highlighted the opportunity to expand their market reach, particularly in Europe through local capabilities.
KOIL Energy Solutions (OTCQB: KLNG) has announced its expansion into Brazil with a new technology center in Macaé, marking a strategic move into the world's largest subsea market. The company has leased a 180,000 sq ft property with a 27,000 sq ft workshop that will accommodate engineering, manufacturing, testing, and service support activities.
The expansion is aligned with Brazil's goal to become one of the top five oil producers by 2030. The facility will operate under the newly established subsidiary, KOIL Energy Solutions Brasil LTDA. Located in Macaé, known as 'Cidade do Petróleo' and the center of Brazil's offshore petroleum industry, this expansion represents a significant step in KOIL Energy's growth strategy to support subsea customers in the region.
