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KOIL Energy (OTCQB: KLNG) wins major subsea umbilical handling and storage project

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

KOIL Energy Solutions reported winning a major subsea project focused on umbilical handling, spooling, and long-term storage services. The work will use two large carousels, combining a newly acquired mobile offshore carousel with an existing carousel from its fleet.

The new modular offshore carousel can handle 3,500 metric tons and is designed to be assembled on board vessels for rapid deployment to projects in the U.S. and internationally. KOIL expects its experienced service team to execute the project in the second half of 2026, then store the customer’s umbilical system.

Positive

  • None.

Negative

  • None.
Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Project timing Second half of 2026 Period when KOIL’s service team will perform project work
New offshore carousel capacity 3,500 metric tons Capacity of modular offshore carousel used for the project
Carousels deployed Two large carousels Combination of a newly acquired mobile carousel and an existing carousel asset
subsea umbilical technical
"major project for subsea umbilical handling, spooling, and storage services"
A subsea umbilical is a bundled line of cables, tubes and hoses that carries power, data, and fluids between surface facilities or platforms and underwater equipment on the seabed. Think of it as a combined power cord, phone line and fuel hose that lets remote machines be controlled, monitored and supplied without divers. Investors care because umbilicals are critical to production reliability, maintenance costs and the timeline and cost of offshore projects.
credit facility financial
"KOIL announced it had secured a new credit facility, which will help finance"
A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.
forward-looking statements regulatory
"Any forward-looking statements in the preceding paragraphs of this release are made"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported)

June 11, 2026

 

KOIL ENERGY SOLUTIONS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Nevada   000-30351   75-2263732

(State or other jurisdiction of incorporation)

   (Commission File Number)  

(I.R.S. Employer Identification No.)

 

1310 Rankin Road, Houston, TX 77073

(Address of principal executive offices) (Zip Code)

 

(281) 517-5000

Registrant’s telephone number, including area code

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

   

 

 

SECTION 1 – ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

 

ITEM 1.01 Entry into a Material Definitive Agreement.

 

On June 11, 2026, Koil Energy Solutions, Inc. issued a press release announcing the recent award the award of a major project for subsea umbilical handling, spooling, and storage services. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.

 

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

 

ITEM 9.01 Exhibits.

 

(d) Exhibits:

 

99.1 Press Release issued by Koil Energy Solutions, Inc. dated June 11, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Date: June 17, 2026

 

 

 KOIL ENERGY SOLUTIONS, INC.
   
  By:

/s/ Erik Wiik

    Erik Wiik
    President and Chief Executive Officer
   

(Principal Executive Officer)

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 3 

 

Exhibit 99.1

 

KOIL Energy Secures Major Project Award Mobilizing New and Old Carousels

 

June 11, 2026

 

HOUSTON, June 11, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions Inc. (OTCQB: KLNG), a leading international provider of subsea equipment and services, today announced the award of a major project for subsea umbilical handling, spooling, and storage services. This project requires two large carousels, and KOIL will deploy both a newly acquired, large mobile offshore carousel and an existing carousel asset to execute the work.

 

“This award is a pivotal moment for KOIL and further validates our strategy to scale our rental equipment and services platform,” said Erik Wiik, President and Chief Executive Officer of KOIL Energy. “We secured funding, acquired a new mobile carousel, and already won its first contract, while also redeploying an underutilized carousel from our existing fleet. We were able to acquire what is essentially a new asset, ready for mobilization. This is a great opportunity for KOIL to expand our technical capabilities and accelerate our growth within rental equipment and services across the global subsea market.”

 

The work will be performed by KOIL’s experienced service team during the second half of 2026, followed by long-term storage of the customer’s umbilical system. The new 3,500-metric-ton modular offshore carousel is designed to be assembled on board a vessel, enabling rapid mobilization and redeployment to new project locations in the U.S. and internationally on short notice.

 

Last month, KOIL announced it had secured a new credit facility, which will help finance the new asset and support the Company’s broader rental equipment investment plan.

 

About KOIL (www.koilenergy.com)

 

KOIL Energy is a leading energy services company offering subsea equipment and support services to the world's energy and offshore industries. We provide innovative solutions to complex customer challenges presented between the production facility and the energy source. Our core services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, and related services. Additionally, KOIL Energy's experienced team can support subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world.

 

Forward-Looking Statements

 

Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.

 

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

 

Source: View Original Filing on SEC EDGAR

FAQ

What project did KOIL Energy Solutions (KLNG) announce in its latest 8-K?

KOIL Energy Solutions announced a major project award for subsea umbilical handling, spooling, and long-term storage services. The work will use two large carousels and leverages both a new mobile offshore carousel and an existing carousel from its fleet.

When will KOIL Energy (KLNG) perform the newly awarded subsea project work?

KOIL Energy plans to perform the subsea umbilical handling and spooling work during the second half of 2026. After project execution, the company will provide long-term storage services for the customer’s umbilical system, extending its involvement beyond the initial offshore operations.

What new equipment is KOIL Energy (KLNG) deploying for the subsea project?

KOIL Energy will deploy a new 3,500-metric-ton modular offshore carousel designed for assembly on board a vessel. This mobile carousel allows rapid mobilization and redeployment to new project locations in the U.S. and internationally on relatively short notice, enhancing operational flexibility.

How does the new project relate to KOIL Energy’s (KLNG) existing assets?

Alongside the new mobile offshore carousel, KOIL Energy will redeploy an underutilized existing carousel from its fleet. This approach combines a newly acquired asset with current equipment, aiming to increase utilization of its rental equipment and services platform within the global subsea market.

Filing Exhibits & Attachments

4 documents

Press Releases

Other Documents