BASIS OF PRESENTATION (Policies)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Liquidity

Liquidity

The Company’s cash on hand was $1,185 and working capital was $5,117 as of March 31, 2026. As of December 31, 2025, cash on hand and working capital was $1,535 and $4,805, respectively. The Company generally depends on cash on hand, cash flows from operations, and a bank accounts receivable factoring facility to satisfy its liquidity needs.

The Company believes it will have adequate liquidity to meet its future operating requirements through a combination of cash on hand, cash expected to be generated from operations, and bank credit facilities. Given the inherent volatility in oil prices and global economic activity, the Company cannot predict this with certainty. To mitigate this uncertainty, the Company exercises discipline when making capital investments and pursues opportunistic cost containment initiatives, which can include workforce alignment, limiting overhead spending, and limiting research and development efforts to only critical items. Additionally, on May 24, 2023, the Company entered into a Purchase and Sale Agreement/Security Agreement (the “Factoring Agreement”) with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit (“Amegy”), which provides for Koil Energy from time to time to sell its accounts receivable and other rights to payment to Amegy, subject to Amegy’s right to approve or reject future accounts receivable and other rights proposed for sale, in its sole discretion. Any receivables sold shall bear an interest rate computed as Wall Street Journal Prime Rate (“Prime Rate”) plus 2.00%. The Prime Rate has a floor and at no time shall it be less than 8.00% for the purposes of this agreement. At March 31, 2026, the Company had $8 of outstanding sales of accounts receivable with Amegy. On December 31, 2025, the Company had $541 of outstanding sales of accounts receivable to Amegy.

Principles of Consolidation

Principles of Consolidation

The unaudited condensed consolidated financial statements presented herein include the accounts of Koil Energy for the three months ended March 31, 2026 and 2025, and for the year ended December 31, 2025. All intercompany transactions and balances have been eliminated. 

Segments

Segments

For the three months ended March 31, 2026 and 2025, the Company’s operations were organized as one reportable segment and one operating segment.