Nine Energy Service Files for Chapter 11 Bankruptcy Protection Amid Low Oil Prices

Houston-based energy company files Chapter 11 bankruptcy

The restructuring plan is expected to eliminate $320 million in debt and reduce interest expenses.

Oil Field Vendor Nine Files Bankruptcy to Cut $320 Million Debt

Nine Energy Service files for Chapter 11 bankruptcy protection amid low oil prices

Oil Field Vendor Nine Files Bankruptcy to Cut $320 Million Debt - Energy News, Top Headlines, Commentaries, Features & Events

By Dorothy Ma Nine Energy Service Inc., a Houston-based oil field vendor, filed for Chapter 11 bankruptcy on Sunday as it struggled with high leverage and a shrinking business amid a slowdown in drilling programs. The deal will see a “complete equitization” of its $320 million first-lien notes due 2028, according to . The company ...

Nine Energy Hires Kirkland and KRCL for Chapter 11 Restructuring

Houston-based Nine Energy Services and eight of its affiliated businesses filed Sunday for Chapter 11 bankruptcy protection in the Southern District of Texas. The post Nine Energy Hires Kirkland and KRCL for Chapter 11 Restructuring appeared first on The Texas Lawbook.

Nine Energy Filed for Chapter 11 With Plan to Slash $320 Million in Debt

Oilfield services provider Nine Energy Services sought refuge in bankruptcy court Monday, announcing it has filed for Chapter 11 protection in Texas with a prepackaged restructuring plan designed to erase $320 million of its $388 million debt load through an equity swap. The filing marks a dramatic turn for the Houston-based company, which once rode the surge of U.S. shale expansion but now seeks to steady itself after years of market turbulence…