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KOIL Energy Solutions Inc. reports developments for a subsea energy-services business serving offshore and deepwater projects. The company supplies and supports equipment used between production facilities and energy sources, including subsea distribution systems, umbilical terminations, flying leads, hydraulic distribution manifolds, mudmat structures and related hardware.
Recurring news for KLNG includes earnings releases, conference-call notices, contract awards, engineering and fabrication work, project-management services, rental equipment deployment, installation monitoring, pre-commissioning and international offshore project activity. Updates also describe manufacturing, integration and testing work for subsea tiebacks and support for engineering, installation, commissioning and maintenance projects.
KOIL Energy (OTCQB: KLNG) reported record second-quarter 2026 revenue of $9.2 million, up 78% year-over-year and 13% sequentially, with adjusted EBITDA of $1.1 million, or 12% of revenue. Service revenue rose 115% year-over-year and fixed-price project revenue grew 49%.
According to KOIL Energy, gross profit reached $3.0 million (32% margin) versus $1.7 million (33%) a year earlier, while operating income improved to $678,000 from a loss. Net income was $652,000, or $0.05 per basic share. For the first half of 2026, revenue rose to $17.4 million and net income to $893,000. The company highlighted a major subsea umbilical services project, a new Brazil maintenance contract, a strategic alliance with Pipeline Network, significant rental equipment investments, and a new $5 million lending facility supporting its “KOIL 2030” growth strategy.
KOIL Energy Solutions (OTCQB: KLNG) will release its second quarter 2026 financial results on Thursday, August 13, 2026, before the market opens. The company will host an investor conference call the same day at 10:00 a.m. Eastern Time, accessible via webcast, toll-free and international dial-in numbers, with the earnings release and call replay available on its website.
KOIL Energy Solutions (OTCQB: KLNG) announced a strategic alliance with Pipeline Network, a consultancy specializing in oil and gas pipeline services, to expand KOIL Energy’s subsea products, rental equipment, and field services across the Middle East, Africa, and Asia‑Pacific.
The alliance leverages KOIL Energy’s subsea technology and Pipeline Network’s regional presence to strengthen growth in the Eastern Hemisphere. It follows recent milestones: a major pre‑commissioning project award offshore West Africa, $5 million in funding to grow KOIL’s rental fleet, and an additional 3,500 mT mobile offshore carousel for subsea umbilical‑handling services, supporting KOIL Energy’s strategic global expansion plan.
KOIL Energy (OTCQB: KLNG) announced the successful commissioning of its newly acquired mobile, barge‑based carousel on the U.S. Gulf Coast. The large‑scale offshore carousel, purchased earlier in 2026, has been disassembled, transported, reassembled and has passed full system integration testing for subsea umbilical handling, spooling and storage.
The modular carousel is designed for rapid mobilization to support complex subsea projects in the Gulf of America and internationally and will work alongside KOIL’s upgraded existing carousel. The first project using both assets is expected to be completed in late September 2026, supporting KOIL’s broader rental equipment and services strategy under its KOIL 2030 roadmap.
KOIL Energy (OTCQB: KLNG) announced it has secured a significant subsea umbilical maintenance contract in Brazil, representing its first such campaign in the country’s deepwater market. The project covers re-termination and testing of chemical injection and hydraulic control lines, plus electrical cables, using KOIL’s proprietary methodology and specialized equipment.
Work scopes include pull-in, removal, and replacement of new umbilical elements. Planning, engineering, qualifications, and procurement will be handled from KOIL’s Macaé, Brazil base, supported by engineering from Houston. The first offshore maintenance campaign is scheduled to start in the fourth quarter of 2026.
KOIL Energy (OTCQB: KLNG) won a major subsea umbilical handling, spooling, and storage project requiring two large carousels. The company will use a newly acquired 3,500-metric-ton modular offshore carousel and redeploy an existing underutilized carousel.
Work is scheduled for the second half of 2026, followed by long-term storage of the customer’s umbilical system. A recently secured credit facility will help finance the new asset and support KOIL’s broader rental equipment investment plan.
Koil Energy (OTCQB: KLNG) will present at the Planet MicroCap Las Vegas 2026 conference on June 17, 2026, at 2:30pm PST at the Bellagio Resort & Hotel.
President and CEO Erik Wiik and CFO Kurt Keller will present and host a Q&A session, with a live webcast and 1x1 investor meetings available.
Koil Energy (OTCQB: KLNG) closed a new $5 million asset-based revolving credit facility with nFusion Capital Finance. The line of credit, drawable as needed, will support working capital, expand Koil’s rental equipment fleet, and replaces a repaid receivables factoring arrangement, leaving no financial debt other than lease obligations.
KOIL Energy (OTCQB: KLNG) reported record Q1 2026 revenue of $8.2 million, up 56% year-over-year and 13% sequentially. Gross profit was $2.6 million, a 32% margin versus 31% a year ago. Adjusted EBITDA was $572,000, or 7% of revenue.
SG&A expenses rose to $2.3 million, up $611,000 year-over-year, with part attributed to non-recurring audit and marketing costs. KOIL highlighted multiple new manufacturing and services contracts and noted that newer clients contributed about 25% of Q1 2026 revenue.
Koil Energy Solutions (OTCQB: KLNG) will release its first quarter 2026 earnings on Friday, May 15, 2026, before the market opens.
The company will host an investor conference call the same day at 10:00 a.m. Eastern Time, accessible via webcast and dial-in.