Acquirer(s)
- Schlumberger Limited
Target(s)
- ChampionX Corporation
Summary
On 2 April 2024, Schlumberger Limited (Schlumberger) announced its intention to acquire 100 per cent of the shares in ChampionX Corporation (ChampionX).
Schlumberger and ChampionX both supply oilfield services globally and in Australia. In Australia, Schlumberger supplies oilfield services throughout the lifecycle of an oil or gas well, while ChampionX focuses on artificial lift technologies and production chemical technologies, which are supplied during the production phase of an oil or gas well.
Market inquiries
Submissions are invited from interested parties regarding Schlumberger’s proposed acquisition of ChampionX by 4pm on 6 December 2024.
Submissions should be forwarded electronically (preferably in PDF format) to mergers@accc.gov.au with the title: "Submission re: Schlumberger/ChampionX".
For more details, please refer to the Market Inquiries Letter published below.
Following 6 December 2024, queries regarding the ACCC’s review may also be addressed to mergers@accc.gov.au.
For more details, please refer to the Market Inquiries letter published below.
Market inquiries
| Document title | Date | |
|---|---|---|
| Schlumberger ChampionX - Market inquiries letter |
Timeline
| Date | Event |
|---|---|
ACCC commenced informal review under the Informal Merger Review Process Guidelines. |
|
Closing date for submissions. |
|
Timeline suspended pending receipt of information from the parties. Former provisional date for announcement of findings (27 February 2024) was delayed |
|
ACCC received further information from the parties (on 20 December 2024). Timeline recommenced. |
|
ACCC former provisional decision date (6 March 2025) delayed to enable the ACCC to continue its investigation and engage with other competition agencies. ACCC will announce a proposed decision date in due course. |