However, two large-diameter Coiled Tubing units were removed from service for maintenance-related issues, representing about 17% of the company’s large-diameter fleet. Nine Energy Service has retained the skilled workforce associated with the inactive equipment rather than reducing those costs, she said. She added that there is limited excess Coiled Tubing capacity in the market, noting that the number of U.S. Coiled Tubing units available is down by nearly 40% from pre-COVID 2019 levels. The outlook reflects continued lost revenue from the inactive Coiled Tubing unit and inflation that remains ahead of pricing adjustments. About Nine Energy Service (NYSEAMERICAN:NINE)Nine Energy Service is an oilfield services company that provides completion and production solutions to upstream oil and gas operators.