Published: February 20, 2026 |

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Nine Energy Service 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 and certain of its U.S. and Canadian subsidiaries have filed a voluntary, prepackaged chapter 11 case in the U.S. Bankruptcy Court for the Southern District of Texas. The company’s operations outside the U.S. and Canada are not included in the filing.

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.

“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 focused on what matters most — supplying the teams, the tools and the technology to ensure success for our customers, safely and efficiently. I would like to thank our Nine team for their resilience, tenacity and commitment and our customers and vendors for their ongoing partnership and support. We look forward to emerging from this process with a healthier financial foundation, well-positioned to offer comprehensive well solutions for many years to come,” added Fox.

The company expects to complete the process and emerge from chapter 11 within 45 days. Nine has received a commitment for $125 million in debtor-in-possession financing from its existing ABL lender to support the business throughout the chapter 11 process. The existing ABL lender also committed to providing an exit ABL facility of $135 million upon emergence from chapter 11.

The company has filed a number of customary motions with the court to support ordinary course operations, enabling the company to pay employees as usual and continue benefits without disruption. The company has also filed an “all-trade” motion with the court that will allow it to pay vendors for all goods and services that were provided in ordinary course of business before and after the chapter 11 filing.

Nine Energy has launched a micro-website to provide additional details on the process HERE.

Nine Energy Service is a leading oilfield services business that supplies cutting edge solutions for unconventional oil and gas resource extraction and development across North America and abroad. Nine’s culture is driven by an intense focus on performance and wellsite execution as well as a commitment to forward-leaning technologies that aid the development of smarter, customized applications that drive efficiencies and reduced emissions for customers. Nine is headquartered in Houston, Texas with operational reach that extends across all major onshore basins in the United States and Canada.

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