SLB has announced that the United Kingdom Competition and Markets Authority (CMA) has declined to unconditionally clear SLB’s planned acquisition of ChampionX during the CMA’s Phase 1 review period.
SLB is committed to collaborating with the CMA to address any outstanding concerns and is confident that the transaction will be cleared for closing. As a result of this continued review, SLB now expects that the transaction should close in the second or early third quarter of 2025.
Announced in April 2024, SLB and ChampionX entered into a definitive agreement for SLB to purchase ChampionX. The combined portfolios will drive customer value through deep industry expertise and digital integration, as well as enhanced equipment life and production optimization.
About SLB
SLB is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
About ChampionX
ChampionX Corporation is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. ChampionX’s expertise, innovative products, and digital technologies provide enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well. To learn more about ChampionX, visit our website at www.championX.com.
Source: SLB
