International subsea energy equipment and services specialist Koil Energy Solutions Inc (OTCMKTS:KLNG) is one of the companies which could come into focus among investors this morning in light of the announcement from the company yesterday.
Trading Data
On Tuesday, KLNG stock moved down 0.70% to $0.7050 with more than 1.35K shares, compared to its average volume of 6.41K shares. The stock moved within a range of $0.7050 – 0.7100 after opening trade at $0.7100.
Koil Energy Solutions to Provide LNG Energy Services
The company came into the news cycle on Tuesday after it announced that it had received an order for providing its services to an LNG project situated at the Gulf of Mexico. In the first phase of the project, the company is going to be involved in providing engineering services. In the future, the scope of the services could include flowlinetranspooling services and custom designed installation equipment.
In fact, in the future Koil Energy Solutions could also be awarded a long term service agreement for the purpose of a range of offshore operations. It goes without saying that the latest development was a significant one for the company and it is going to be interesting to see if it leads to any move for the Koil Energy Solutions stock or not.
The initial stages of the project are expected to be executed by the company during the first half of the year. However, the two parties concerned are also in discussion for a multi-year agreement.
