Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 72

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 approximates their carrying value.

9. Related Party Transactions

The Company leases office space, yard facilities, and equipment and purchases building maintenance and repair services from entities owned by David Crombie, an executive officer of the Company. Total lease expense and building maintenance and repair expense associated with these entities was $0.2 million and $0.7 million for the three and nine months ended September 30, 2025, respectively, and $0.2 million and $0.8 million for the three and nine months ended September 30, 2024, respectively. The Company also purchased $0.9 million and $3.2 million of products and services during the three and nine months ended September 30, 2025, respectively, and $1.1 million and $2.6 million for the three and nine months ended September 30, 2024, respectively, from an entity in which Mr. Crombie is a limited partner. There were outstanding payables due to entities associated with Mr. Crombie of $0.8 million and $0.3 million at September 30, 2025 and December 31, 2024, respectively. Ann G. Fox, President and Chief Executive Officer and a director of the Company, is a director of Devon Energy Corporation (“Devon”). The Company generated revenue from Devon of $1.0 million and $2.1 million for the three and nine months ended September 30, 2025, respectively, and $1.2 million and $4.2 million for the three and nine months ended September 30, 2024, respectively. There were outstanding receivables due from Devon of $0.6 million and $0.3 million at September 30, 2025 and December 31, 2024, respectively.The Company provides products and services to Crescent Energy Company (“Crescent”), where one of the Company’s directors serves as the Chief Operating Officer. The Company generated revenue from Crescent of $0.8 million and $6.3 million for the three and nine months ended September 30, 2025, respectively, and $2.0 million for both the three and nine 

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months ended September 30, 2024. There were outstanding receivables due from Crescent of $0.4 million and $1.1 million at September 30, 2025 and December 31, 2024, respectively.

10. Commitments and Contingencies