SLB announced that it has closed its acquisition of ChampionX Corporation. Under the terms of the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. Former ChampionX shareholders will own approximately 9% of SLB’s outstanding shares of common stock.
The integration of ChampionX production chemicals and its complementary artificial lift, digital, and emissions technologies enhances the SLB portfolio. The move will help to drive performance and extend asset life along the production lifecycle.
SLB remains on track to return $4 billion to shareholders in 2025. The company expects to realize annual pretax synergies from the ChampionX acquisition of approximately $400 million within the first three years post-closing through revenue growth and cost savings.
Courtesy of SLB.