CMA Clears Schlumberger's ChampionX Merger

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Competition and Markets Authority (CMA) cleared its proposed merger with ChampionX Corporation, marking the last regulatory approval needed for the transaction. Schlumberger plans to close the merger on July 16, 2025, subject to other closing conditions being satisfied or waived. The merger, initially disclosed on April 2, 2024, is an all-stock transaction where ChampionX will continue as a wholly-owned subsidiary of Schlumberger.

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About Schlumberger Limited

Schlumberger Limited is a leading provider of technology and services to the global oil and gas industry. The company's primary function is to supply oilfield services and technology solutions that enhance reservoir performance and improve drilling operations. Schlumberger's offerings span the entire life cycle of energy projects, including drilling, formation evaluation, well completion, and production optimization. It significantly impacts sectors such as exploration and production, providing data and analytics that increase the efficiency and effectiveness of energy extraction. Known for its commitment to innovation, Schlumberger operates in over 120 countries, enabling it to deliver tailored solutions on a global scale. Its role in the financial market is prominent, as it is often considered a bellwether for the energy industry's overall health, influencing both upstream and integrated energy operations. Through its sustainable practices and technological advancements, Schlumberger continues to drive progress within the energy sector.