Nine Energy Service provides completion services for onshore unconventional oil and gas wells, primarily in North America. Nine helps E&P companies complete horizontal, multistage wells — the final phase of well construction before production begins — and operates across every major U.S. onshore basin, including the Permian, Marcellus/Utica, Eagle Ford, and Haynesville, as well as western Canada. Nine operates four service lines: cementing (blending and pumping cement slurries to seal production casing), completion tools (manufacturing and selling downhole isolation tools like frac plugs), wireline (deploying perforating guns and setting frac plugs), and coiled tubing (wellbore intervention to clean out plugs after completion). Nine charges E&P operators per job, per stage, or per day depending on the service line, and revenue tracks closely with U.S. completion activity and the rig count. Profitability is highly leveraged to activity levels and pricing power — when activity softens, operators bid aggressively and margins compress. Nine argues it differentiates through cementing expertise, proprietary dissolvable and hybrid frac plugs, and technical execution on complex extended-reach wells. Nine has been growing its international completion tools business (Middle East, Argentina, Australia) as a higher-margin complement to its U.S. services. Nine filed for Chapter 11 bankruptcy in February 2026; under a prepackaged restructuring plan, existing equity will be wiped out and noteholders will receive 100% of the reorganized company.