Koil Energy Solutions Stock Price, News & Analysis

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.

KOIL Energy Solutions (OTCQB: KLNG) announced that Vice President of Finance and Administration, Trevor Ashurst, will resign effective February 1, 2025. President and CEO Erik Wiik acknowledged Ashurst's significant contributions during his tenure, particularly in the company's rebranding efforts, establishment of a new state-of-the-art facility, and improvement of profitability. To support its growth trajectory, KOIL Energy has engaged SNRG , an Executive Search Firm, to recruit both a Chief Financial Officer and a Human Resources Manager.

KOIL Energy Solutions (OTCQB: KLNG) has secured a significant contract from a major international oil and gas company to supply Electrical and Hydraulic Distribution Manifolds for a West African project. The scope includes engineering, procurement, fabrication, assembly, and testing of manifolds that will distribute electrical and hydraulic power to regulate oil and gas flow through existing subsea infrastructure.

The project will be executed at KOIL's Houston facility, with final delivery scheduled for the second half of 2025. The company's in-house capabilities, from carbon steel fabrication to specialty alloy tube welding, ensure quality control throughout the manufacturing process.

KOIL Energy Solutions (OTCQB: KLNG) has announced its participation in the upcoming Sidoti November Virtual Investor Conference on November 13-14, 2024. President and CEO Erik Wiik will deliver a presentation on November 13 at 10:45 AM ET and conduct one-on-one meetings with investors during both conference days. The event is accessible to all investors and financial professionals at no cost, with registration available through Sidoti's website.