KOIL Energy Solutions Inc. (OTC: KLNG) Expands Into Brazil
As the trading week begins in a big way this morning, it may be the right time to look into the stocks of those companies that were in focus yesterday, and hence, the KOIL Energy Solutions Inc. (OTC: KLNG) stock could be the one worth tracking. In this feature, we will take a look into the company’s move to expand into the Brazilian market.
The Announcement
The company, involved in providing infrastructure-related controls for subsea oil and gas fields, announced that it had moved into the massive Brazilian market with the establishment of a new tech center. The tech center would be based out of Macaé and offer manufacturing and service support. In the news release yesterday, KOIL Energy Solutions noted that Macae offered a major new opportunity to the company to set up its presence in Brazil, the largest subsea market globally.
Further Information
KOIL Energy Solutions also stated that the facility in question was going to play a major role in its overall growth strategy. Macaé is regarded as the ground zero for the offshore petroleum industry in Brazil. The company revealed that it had leased as much as 180,000 square feet of office and a workshop spanning 27,000 square feet.
Key Quote
“Macaé represents an exciting new chapter for KOIL Energy as we establish our presence in Brazil, the largest subsea market in the world,” said Erik Wiik, KOIL Energy’s President and CEO. “This facility is expected to play a key role in our growth strategy, and we are grateful for the strong partnership and support from local customers and suppliers.”
Fundamentals
| P/E Ratio | 22.06 |
| PEG Ratio | 0.1 |
| Price to Book | 3.33 |
| Price to Cash Flow | 8.83413 |
| Price to Free Cash Flow | 9.40076 |
| Total Sales (TTM) | 20.80 M |
| Revenue per Share (TTM) | 1.68 |
| Shares Outstanding | 12.388 M |
| Share Float (%) | 6.12 M (49.42%) |
| % Held by Institutions | 11.56 |
