Shale play service provider set to issue IPO

By Luke Geiver | January 09, 2018

Nine Energy Service Inc. is going public roughly four years after forming. The Houston-based company announced its intent to list on the New York Stock Exchange with an initial offering price between $20 and $23 per share. The company will trade under the ticker symbol “NINE.” The offering will consist of 7 million shares of common stock with an additional possibility of issuing another 1 million shares.

In 2014, Nine Energy formed after four small oilfield service companies merged. “Perfection in the oilfield is impossible,” the company said, “but nine out of 10 is as close as you are going to get.”

After uniting four service firms, Nine has since added four other businesses under its umbrella and now operates in every major U.S. shale play. In addition to completion and production solutions, Nine has trademarked three completion tool or related technologies.

In the Williston Basin, Nine Energy has worked on custom frack solutions using a divert-a-frac system developed in-house for a client. In the Utica, Nine’s team has performed a 124-stage well completion job.