NINE ENERGY SVC DL -,01

Nine Energy Service posted revenue of $130 million in Q1 2026 and adjusted EBITDA of $3 million (about $8.5 million excluding inventory write‑downs). Operational disruptions followed the completion of the Chapter‑11 proceedings on March 5 and extreme weather in the Northeast, resulting in extensive revaluations and write‑downs. As of March 31, $11.2 million in cash and $46.9 million in total liquidity were available. Management expects operational normalization from the second quarter and plans investments of $20–30 million in 2026. » Więcej na de.investing.com

Nine Energy Service has entered a first‑lien, secured DIP credit facility with White Oak via revolving commitments of up to $125 million after filing for Chapter 11, including a roll‑up of prior indebtedness and an option for an exit ABL facility of up to $135 million following confirmation of the reorganization plan. The bankruptcy court for the Southern District of Texas granted preliminary approval of the DIP facility. Separately, the NYSE has initiated delisting proceedings for the common stock, suspended trading and, the company said, filed Form 25 with the SEC; registration is typically terminated 90 days after filing. Nine Energy Service stated the delisting will not affect ongoing operations or its SEC reporting obligations. » Więcej na de.investing.com

S&P Global Ratings cut Nine Energy Services’ rating from CCC+ to CCC- and set the outlook to negative, citing deteriorating liquidity due to declining U.S. drilling activity. For 2026 S&P forecasts EBITDA of about $30 million versus interest expenses of roughly $45 million, an expected negative free cash flow gap of $25–30 million and only about $15 million of available credit line after covenants. The senior secured notes trade at roughly 23 cents on the dollar; S&P sees a high risk of missed interest payments, a distressed restructuring and a possible delisting from the NYSE. » Więcej na de.investing.com