Schlumberger Limited (SLB) has completed its acquisition of ChampionX Corporation, with ChampionX shareholders receiving 0.735 shares of Schlumberger common stock for each ChampionX share. As a result, former ChampionX shareholders now own about 9% of Schlumberger’s outstanding common stock.
This move enhances Schlumberger’s leadership in the production and recovery sector. The company is set to return $4 billion to shareholders in 2025 and anticipates annual pretax synergies of approximately $400 million within three years post-closing through revenue growth and cost savings.
Olivier Le Peuch, CEO of Schlumberger Limited, highlighted the acquisition’s importance as the industry focuses on maximizing oil and gas recovery.
