Business
Nine Energy Service Takes Action to Strengthen Capital Structure and Position Company for Future Growth
Nine Energy Service, Inc. ("Nine"), a leading onshore completion solutions provider, announced today that it has reached an agreement with its debtholders on a comprehensive recapitalization transaction designed to strengthen its capital structure and support the Company's long-term financial health. To implement the transaction, Nine Energy Service, Inc. and certain of its U.S. and Canadian subsidiaries (the "Company") have filed a voluntary, prepackaged chapter 11 case (the "Chapter 11 Cases")
About this update from Nine Energy Service, Inc.
[{"type":"text","content":"Seeks approval of voluntary prepackaged restructuring plan with strong support from lenders, expects to emerge from process within 45 days ","length":138,"tagName":"p","attribs":{}},{"type":"text","content":"Receives commitment for $125 million in new financing to support ongoing operations throughout process","length":102,"tagName":"p","attribs":{}},{"type":"text","content":"Continues to operate as usual and provide best-in-class solutions to customers ","length":78,"tagName":"p","attribs":{}},{"type":"text","content":"All vendors to be unimpaired and paid in full ","length":45,"tagName":"p","attribs":{}},{"type":"text","content":"HOUSTON, Feb. 1, 2026 /PRNewswire/ -- Nine Energy Service, Inc. ("Nine"), a leading onshore completion solutions provider, announced today that it has reached an agreement with its debtholders on a comprehensive recapitalization transaction designed to strengthen its capital structure and support the Company's long-term financial health. To implement the transaction, Nine Energy Service, Inc. and certain of its U.S. and Canadian subsidiaries (the "Company") have filed a voluntary, prepackaged chapter 11 case (the "Chapter 11 Cases") in the U.S. Bankruptcy Court for the Southern District of Texas (the "Court"). The Company's operations outside the U.S. and Canada are not included in the filing.","length":755,"tagName":"p"},{"type":"text","content":"Through the restructuring transactions, Nine will eliminate approximately $320 million of senior secured notes, reducing its annual interest expense by roughly $40 million. The Company will continue operating as usual throughout the court‑supervised process, delivering its full suite of innovative well solutions to customers without interruption.","length":348,"tagName":"p"},{"type":"text","content":""Since our founding, we have consistently risen to meet the challenges of an ever-changing industry and support our oil and gas partners in North America and abroad. Today, we are taking an important strategic step to position the business for long-term success and ensure we have the appropriate capital structure to support us going forward," said Ann Fox, President and Chief Executive Officer, Nine Energy Service. "We are confident that entering into this agreement will enable us to stay focuse...