Koil Energy Solutions Inc (OTC: KLNG) is an offshore energy services company that designs, manufactures, and installs subsea equipment and connection systems for deepwater and ultra-deepwater oil and gas operations. Revenue is generated through fixed-price project contracts covering fabrication, engineering, installation, testing, and commissioning of subsea hardware. The company operates from a single ISO 9001 certified manufacturing facility in Houston, Texas, where it produces its flagship Loose Steel Tube Flying Lead (LSFL) product line alongside umbilical termination assemblies, umbilical hardware, and associated subsea connection systems. Demand is tied directly to customer capital expenditure decisions in offshore exploration, drilling, and production. The company enters large fixed-price contracts that require significant lead time, with revenue recognized over time using a percentage-of-completion method based on costs incurred to date. Customer concentration risk is material, as delays in payments by significant customers are cited as a direct earnings risk in the FY2025 10-K filed March 31, 2026.

Revenue model

Fixed-price project contracts for subsea equipment fabrication, engineering, installation, testing, and commissioning. Revenue is recognized over time using cost-based percentage-of-completion. Contract terms typically allow customer termination for convenience with payment for costs incurred plus a reasonable profit.

Products and services

Loose Steel Tube Flying Lead (LSFL) with Moray termination system; steel tube flying leads; umbilical termination assemblies (UTA); umbilical hardware covering topside platform to subsea connection; flexible and rigid risers; flowlines; jumpers; spooling services; project management and engineering; factory acceptance testing; system integration testing; offshore installation and commissioning services.

Customers and end markets

Offshore oil and gas operators and subsea engineering firms engaged in deepwater and ultra-deepwater exploration, drilling, and production. End-market demand is driven by customer capital expenditure levels in offshore energy. OMS International Limited (OMSi), a UK-based subsea engineering firm, is a named customer as of FY2025 filings.

Value-chain role

Manufacturer and project integrator positioned between raw material supply and offshore installation. Handles design, fabrication, assembly, testing, and offshore commissioning as a turn-key contractor for subsea connection systems.

Geographic exposure

Manufacturing and operations based in Houston, Texas. Offshore project participation indicates international end-market exposure, but specific geographic revenue splits are not disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-03-31

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