ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 5.Mar.2026, Words: 223) — Nine Energy Service, Inc. successfully completed its financial restructuring process.Â
On 1 Feb. 2026, Nine and its US and Canadian subsidiaries filed voluntary, prepackaged chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas.
Nine has emerged from the Chapter 11 cases and Nine’s plan of reorganization, confirmed by the Court on 4 Mar. 2026, is now effective, the company said on 5 Mar. 2026 in an official statement.
RELATED: PETROECUADOR STARTS 2026 DRILLING PROGRAM, EYES HIGHER PRICES AND PROFITS IN CURRENT ENVIRONMENT
Nine achieved the objectives it set for this process, including reducing secured debt by approximately $320mn and annual interest expense by $40mn. Nine also received an exit ABL facility of $135mn from existing ABL lenders upon emergence from the Chapter 11 cases. This will provide Nine with greater optionality and flexibility to support the company’s long-term financial health.
Nine is advised in this matter by Kirkland & Ellis LLP and Kane Russell Coleman Logan PC as legal counsel, Moelis & Company as investment banker and FTI Consulting as financial and communications advisors.Â
RELATED: ESMERALDAS REFINERY TO GRADUALLY RESTART ON 16 MAR. 2026
Certain noteholders under the company’s senior secured notes indenture are advised by Milbank LLP as legal counsel and Houlihan Lokey as investment banker. The ABL lenders are advised by Paul Hastings LLP as legal counsel.
____________________
By Chad Archey reporting from Atlanta. © 1999-2026 Energy Analytics Institute (EAI). All Rights Reserved.
