Nine Energy Service Inc
NYSE:NINE
Nine Energy Service Inc
Nine Energy Service, Inc. operates as an oilfield services company, which engages in the provision of completion solutions. The company is headquartered in Houston, Texas and currently employs 944 full-time employees. The company went IPO on 2018-01-19. The firm provide comprehensive completion solutions across a diverse set of well-types, including on the complex, technically demanding unconventional wells. The firm offers a variety of completion applications and technologies to match customer needs across the broadest addressable completions market. The Company’s comprehensive well solutions range from cementing the well at the initial stages of the completion, preparing the well for stimulation, isolating all the stages of an extended reach lateral, and the drilling out of isolation tools. Its wireline services involve the use of a wireline or electric wireline unit equipped with a spool of wireline that is unwound and lowered into oil and gas wells to convey specialized tools or equipment for well completion and well intervention, or pipe recovery.
Nine Energy Service, Inc. operates as an oilfield services company, which engages in the provision of completion solutions. The company is headquartered in Houston, Texas and currently employs 944 full-time employees. The company went IPO on 2018-01-19. The firm provide comprehensive completion solutions across a diverse set of well-types, including on the complex, technically demanding unconventional wells. The firm offers a variety of completion applications and technologies to match customer needs across the broadest addressable completions market. The Company’s comprehensive well solutions range from cementing the well at the initial stages of the completion, preparing the well for stimulation, isolating all the stages of an extended reach lateral, and the drilling out of isolation tools. Its wireline services involve the use of a wireline or electric wireline unit equipped with a spool of wireline that is unwound and lowered into oil and gas wells to convey specialized tools or equipment for well completion and well intervention, or pipe recovery.
Revenue Miss: Q3 revenue was $132 million, falling short of the $135–$145 million guidance range due to continued market challenges.
Market Headwinds: Significant rig count declines, customer consolidation, and intense pricing pressure reduced both revenue and earnings across all service lines.
International Growth: International revenue grew approximately 19% year-to-date, led by sales in the UAE, Argentina, and Australia.
Downward Guidance: Q4 revenue is projected to decline further, with guidance set at $122–$132 million and adjusted EBITDA also expected to be down sequentially.
Liquidity Management: Liquidity stood at $40.3 million at quarter-end, but borrowing base reductions are expected over the coming months due to lower inventory valuations.
Operational Highlights: The cementing division completed a technically challenging job in the Haynesville basin, showcasing innovation despite tough conditions.
