SLB announced the successful closing of its previously announced acquisition of ChampionX Corporation. Under the terms of the agreement, ChampionX shareholders received 0.735 shares of SLB common stock for each ChampionX share, resulting in former ChampionX shareholders owning approximately 9% of SLB’s outstanding shares.
This strategic acquisition significantly strengthens SLB's leadership in the production and recovery market, a less cyclical and growing segment of the energy industry. The integration combines ChampionX’s expertise in production chemicals, artificial lift, digital, and emissions technologies with SLB’s global presence and innovation capabilities.
SLB anticipates realizing approximately $400 million in annual pretax synergies from the ChampionX acquisition within the first three years post-closing, through a combination of revenue growth and cost savings. The company also reaffirmed its commitment to returning a minimum of $4 billion to shareholders in 2025.
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