Significant Contract News Sends Energy Services Company Higher
Repeat business is one of the highest honors a company can achieve, whether large or small. It signifies that customers not only trust the product or service but also find it valuable enough to return. Consistent business reflects strong customer satisfaction, brand loyalty, and a company's ability to meet or exceed expectations.
Today, an energy services company offering subsea equipment and support services to the world's energy and offshore industries got that nod of approval from a customer.
KOIL Energy Solutions, Inc. (OTCQB: KLNG) announced this morning that they have been awarded a significant contract to supply Multi-Quick Connector (MQC) Plates for a project in the Gulf of America. This award encompasses equipment designed to control the high-pressure systems of a subsea field operated by a U.S. independent energy company.
The MQC plates will play a critical role in the subsea infrastructure by distributing hydraulic control fluid in order to regulate oil and gas production and chemical injections to support flow assurance requirements.
Erik Wiik, President and CEO of KOIL Energy, said, 'This award is particularly exciting for several reasons. Firstly, it represents a repeat order from a valued client, showcasing their continued trust in our capabilities. Secondly, it features our advanced 20,000 psi technology, highlighting our commitment to innovation. Lastly, as the MQC is a cornerstone product within the subsea controls segment, this achievement paves the way for further growth.'
Shares of KLNG have climbed today on the news with the stock currently up 5.5% at $2.11 in early-afternoon trading.
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