SLB and ChampionX announced a definitive agreement for SLB to purchase ChampionX in an all-stock transaction. The ChampionX Board of Directors unanimously approved the agreement. The transaction\u2019s closing is set to occur before the end of 2024.
According to the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. When the transaction closes, ChampionX shareholders will own approximately 9% of SLB\u2019s outstanding shares of common stock.
SLB\u2019s acquisition of ChampionX comes at an important time in the industry. The production phase of oil and gas operations typically comprises the majority of an asset\u2019s lifecycle from completion through decommissioning. This places a premium on the service provider\u2019s ability to help customers address challenges across their production system. At the same time, there is a growing demand to scale emerging technologies such as AI and autonomous operations across global operations.
\u201cOur customers are seeking to maximize their assets while improving efficiency in the production and reservoir recovery phase of their operations,\u201d said Olivier Le Peuch, CEO of SLB. \u201cThis presents a significant opportunity for service providers who can partner with customers throughout the entire production lifecycle, offering integrated solutions and delivering differentiated value.
\u201cOur core strategy remains centered on meeting growing energy demand while accelerating decarbonization and emissions reduction through innovation, scale and digitalization in our core oil and gas business. This acquisition will expand SLB\u2019s presence in the less cyclical and growing production and recovery space that is closely aligned with our returns-focused, capital-light strategy.\u201c\uff082024-04-02\uff09<\/p>\n","protected":false},"excerpt":{"rendered":"

SLB and ChampionX announced a definitive agreement for SLB to purchase ChampionX in an all-stock transaction. The ChampionX Board of Directors unanimously approved the agreement. The transaction\u2019s closing is set to occur before the end of 2024.According to the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX …<\/p>\n

SLB to acquire ChampionX in an all-stock transaction<\/span> \u66f4\u591a \u00bb<\/a><\/p>\n","protected":false},"":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"categories":[40],"tags":[],"_links":{"self":[{"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/posts\/10728"}],"collection":[{"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/types\/post"}],"":[{"embeddable":true,"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/comments?post=10728"}],"version-history":[{"count":1,"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/posts\/10728\/revisions"}],"predecessor-version":[{"id":10729,"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/posts\/10728\/revisions\/10729"}],"wp:attachment":[{"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/media?parent=10728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/categories?post=10728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oktcz.com\/en\/wp-json\/wp\/v2\/tags?post=10728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}