Koil Energy (KLNG) Site Visit: What I Learned About This Subsea Services Company
From shop floor to management sit-downs, a firsthand look at how this niche operator is executing quietly in the subsea services market.
Disclaimer: This is not investment advice and meant for entertainment purposes only, I hold a position in the discussed company and therefore may be biased in my opinion. Please be aware that this is an illiquid microcap, please only buy and sell with a limit-order.
In July of last year, I wrote up Koil Energy (KLNG) under the title “Picks-and-shovel play for a growing Energy sub-segment at a run-rate P/E of 5.” Back then, the stock was trading at $0.85. Today, it’s at $1.90. Time for a site visit—to see how the business looks on the ground, and whether the thesis still has legs. I spent three hours at their facility, toured the operations, and spoke at length with both the CEO and the new CFO.
