Koil Energy Commissions New Mobile Carousel, Ready for First Project by Late September
KLNG has more than doubled off its 52-week low of $1.12 on light trading volume (0.1× avg).
Summary
Koil Energy has successfully commissioned its new mobile barge-based carousel on the U.S. Gulf Coast, completing system integration testing and readying it for deployment. This follows the June 11 announcement of a major subsea umbilical handling project that will use both this new carousel and an existing one. The first project is now expected to be completed by late September 2026, providing a concrete near-term revenue catalyst. Additionally, the existing carousel has undergone a capacity upgrade and is operational, expanding the fleet's capabilities. With a market cap of only $29 million, this operational milestone de-risks the previously announced project and strengthens the company's rental equipment strategy.
At the time of this announcement, KLNG was trading at $2.35 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $28.7M. The 52-week trading range was $1.12 to $3.06. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.