KOIL Energy Announces New CFO

Rhea-AI Summary

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.

Positive

• Appointment of experienced CFO with track record of scaling companies from $20M to $100M in revenue
• New CFO brings M&A expertise, supporting potential growth opportunities
• Strong financial background with CFA and CMA certifications indicates enhanced financial oversight

Negative

• Company trades on OTCQB market, indicating lower tier exchange listing

HOUSTON, April 21, 2025 (GLOBE NEWSWIRE) -- Koil Energy Solutions, Inc. (OTCQB: KLNG), (the "Company") today announced the appointment of Mr. Kurt Keller as the chief financial officer (CFO), effective April 22, 2025. Mr. Keller has two decades of financial leadership experience from middle-market companies, where he has successfully scaled operations and transformed businesses, growing revenues from $20 million to $100 million.

Before joining KOIL Energy, he was an executive at private equity-backed firms PurgeRite and SunGrid Holdings. From 2018 to 2022, he served as CFO at Mantis Innovation Group, a construction and facilities services firm. From 2007 to 2017, he was the CFO of Navasota Energy Services, a builder and operator of power generation facilities. From 1999 to 2006, he provided advisory services at Deloitte. He earned a BA in economics from Baylor University and an MBA from Vanderbilt University. Mr. Keller holds both Chartered Financial Analyst (CFA) designation and Certified Management Accountant (CMA) certification.

“We are excited to welcome Kurt to the KOIL Energy team. His extensive experience in scaling businesses, both organically and through mergers and acquisitions, will prove to be incredibly valuable. Kurt is a transformational leader and perfect for KOIL Energy’s growth journey. We are confident that his leadership will further enhance and solidify our financial policies, strategy, and overall performance,” said Erik Wiik, president and CEO of KOIL Energy. “Maintaining financial discipline is crucial to our ability to meet our commitments to customers, shareholders, and employees.”

KOIL Energy is a leading energy services company offering subsea equipment and support services to the world's energy and offshore industries.

Investor Relations:
ir@koilenergy.com
281-862-2201

FAQ

What experience does Kurt Keller bring as the new CFO of KOIL Energy (KLNG)?

Kurt Keller brings 20 years of financial leadership experience, having scaled companies from $20M to $100M in revenue, with previous CFO roles at Mantis Innovation Group and Navasota Energy Services.

When will Kurt Keller start as CFO at KOIL Energy (KLNG)?

Kurt Keller will begin his role as CFO at KOIL Energy on April 22, 2025.

What are Kurt Keller's educational and professional certifications for the KLNG CFO position?

Keller holds a BA in Economics from Baylor University, an MBA from Vanderbilt University, and both CFA and CMA certifications.

How does KOIL Energy (KLNG) expect to benefit from Kurt Keller's appointment?

KOIL Energy expects to benefit from Keller's expertise in scaling businesses, both organically and through M&A, and his ability to enhance financial policies, strategy, and overall performance.