HOUSTON, TEXAS (By Isaac Silvestre, Energy Analytics Institute, 16.Jul.2025, Words: 341) — SLB closed its previously announced acquisition of ChampionX Corporation.
Per the terms of the agreement, ChampionX shareholders received 0.735 shares of SLB common stock in exchange for each ChampionX share. With the closing of the transaction, former ChampionX shareholders now own approximately 9% of SLB’s outstanding shares of common stock.
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This strategic acquisition strengthens SLB’s leadership in the production and recovery space, SLB said on 16 Jul. 2025 in an official statement.
“This acquisition comes at a pivotal time in the industry as our customers increasingly prioritize advancements in production to maximize recovery of oil and gas,” SLB CEO Olivier Le Peuch said in the statement.
“This move expands SLB’s presence in this important, less cyclical, and growing market that aligns closely with our returns-focused, capital-light core growth strategy. It extends our capability to provide integrated production solutions and provides another platform for accelerating digital adoption, optimizing production and reducing total cost of ownership for our customers,” Le Peuch said.
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The integration of ChampionX production chemicals and its complementary artificial lift, digital, and emissions technologies enhances the SLB portfolio, helping to drive performance and extend asset life along the production lifecycle, SLB said.
Also, the combination of ChampionX’s leading production-focused solutions and customer relationships throughout North America and beyond, with SLB’s strong international presence and history of innovation, will drive significant value for customers and stakeholders globally. The acquisition also brings together two distinct sets of experts with domain knowledge and customer insights across the entire production and recovery space.
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SLB said it remains on track to return $4bn to shareholders in 2025 and expects to realize annual pretax synergies from the ChampionX acquisition of around $400mn within the first 3 years post-closing through revenue growth and cost savings.
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By Isaac Silvestre reporting from Houston. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
