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Nine Energy Service, Inc. provides oilfield completion and production services for unconventional oil and gas wells in North America and abroad. Its news commonly centers on quarterly operating results, revenue guidance, rig-count trends, pricing pressure across service lines and basin-level activity in areas such as the Permian, Eagle Ford, Haynesville, SCOOP/STACK, Bakken, Marcellus, Utica and Canada.
Company updates also cover completion tools, cementing work, technology development, international tools activity, revolving credit arrangements, at-the-market equity program disclosures, shareholder voting matters and governance changes tied to the company’s public-company reporting.
Nine Energy Service, Inc. (NYSE: NINE) announced it received a notice from the NYSE on January 5, 2022, regarding non-compliance with listing standards due to its average market capitalization and stockholders’ equity falling below $50 million. The Company has 45 days to submit a business plan demonstrating compliance within 18 months. The notice does not impact the stock's trading status or business operations. If the plan is accepted, Nine will be monitored for compliance; otherwise, it faces delisting procedures.
Nine Energy Service reported a total liquidity of $85.4 million as of September 30, 2021. For Q3 2021, revenue was $92.9 million, with a net loss of $(16.1) million and a basic loss per share of $(0.53). Adjusted EBITDA was $4.5 million. Although revenue increased approximately 9% from the previous quarter, it fell short of guidance due to labor constraints in the Permian Basin. All service lines showed sequential growth, particularly in Completion Tool and Coiled Tubing services.
On November 1, 2021, U.S. Well Services (USWS) and Nine Energy Service (NINE) announced the success of an all-electric field trial for Northeast Natural Energy (NNE). This project utilized USWS' patented Clean Fleet® technology, achieving a record of 589 total stages completed on nine wells. Emissions were drastically reduced, with CO2-equivalent, NO2, and particulate matter emissions down by 25%, 86%, and 94%, respectively. The trial showcases advancements in efficiency and environmental sustainability in hydraulic fracturing.
Nine Energy Service (NYSE:NINE) will hold its third quarter 2021 earnings conference call on November 4, 2021, at 9:00 am Central Time. The call will cover the company's financial and operational results for the quarter ending September 30, 2021, which will be released beforehand. Participants can join the call by dialing (877) 524-8416 in the U.S. or (412) 902-1028 internationally, and a replay will be available until November 18, 2021.
Nine Energy Service (NYSE: NINE) reported second quarter 2021 revenues of $84.8 million and a net loss of $(24.5 million), or $(0.81) per share. Adjusted EBITDA stood at $(0.4 million), with a sequential revenue increase of 27%. The company faced challenges with $2.4 million in inventory write-downs and cost inflation. However, it noted strong activity in the Permian region and a significant increase in dissolvable plug sales. Despite favorable oil prices, moderate activity growth is expected for the remainder of 2021.
Nine Energy Service, Inc. (NYSE:NINE) will hold its second quarter 2021 earnings conference call on August 5, 2021, at 9:00 am Central Time. The financial results for the quarter ending June 30, 2021, will be released prior to the call. Participants can access the call by dialing US (Toll Free): (877) 524-8416 or International: (412) 902-1028. A replay will be available until August 19, 2021, by calling US (Toll Free): (877) 660-6853 or International: (201) 612-7415. Nine specializes in oilfield services with operations across North America.
Nine Energy Service reported Q1 2021 revenues of $66.6 million with a net loss of $(8.2) million or $(0.28) per share. Adjusted EBITDA stood at $(3.4) million.
Despite a 3% decrease in EIA-reported completed wells, revenue increased 8% due to heightened activity in cementing and completion tools. The company repurchased $26.3 million of bonds for $8.4 million cash during Q1, raising liquidity to $98.8 million. Nine anticipates double-digit revenue growth in Q2 and Q3, exhibiting cautious optimism about market recovery.
Nine Energy Service (NYSE:NINE) has announced its first quarter 2021 earnings conference call scheduled for May 6, 2021, at 9:00 am CT. The company will discuss its financial and operational results for the quarter ending March 31, 2021, which are expected to be released before the call. Participants can join by dialing the provided toll-free numbers, with a replay available until May 20, 2021. Nine Energy Service specializes in oilfield completion solutions across North America and aims to deliver superior service quality and efficiencies in the oil and gas industry.
Nine reported Q4 2020 revenues of $62.0 million with a net loss of $(35.4) million and adjusted EBITDA of $(13.9) million. Revenue increased 25% quarter-over-quarter, though pricing pressures and non-cash items impacted net loss. The company ended 2020 with $68.9 million in cash and reduced debt by repurchasing bonds at 27% of par value. For 2021, Nine anticipates continued challenges with E&P capital spending expected to decline year-over-year, despite operational gains like a market share increase to 23% of U.S. stages completed.
Nine Energy Service (NYSE:NINE) has scheduled its fourth quarter and full year 2020 earnings conference call for March 8, 2021, at 9:00 am CT. The company will discuss its financial results for the period ending December 31, 2020, which will be released prior to the call. Stakeholders can join the live call via U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028. A replay will be available until March 22, 2021. Nine Energy Service specializes in oilfield services, providing customized solutions and technology in the North American oil and gas sector.