Proposed Acquisition by Schlumberger a Positive for ChampionX Shareholders

ChampionX is a diversified oilfield services firm providing specialty chemicals solutions and artificial lift services for oil and gas development and production. It also manufactures polycrystalline diamond cutter, or PDC, inserts for drilling and mining rigs. About two thirds of ChampionX’s overall business involves specialty chemicals, and the firm is one of the largest specialty chemicals providers in the oilfield services space: ChampionX and Baker Hughes together control roughly half of the global market.