Schlumberger to sell ChampionX subsidiary in deal with Competition Bureau
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 16/07/2025 (421 days ago), so information in it may no longer be current.
GATINEAU – The Competition Bureau says Schlumberger Ltd. has agreed to sell a subsidiary of ChampionX Corp. as part of its deal to buy the oilfield services company.
The competition regulator says Schlumberger’s acquisition of ChampionX would likely result in a substantial reduction in competition in the supply of critical oilfield services and equipment in Canada.
Its review found the deal would likely lead to reduced innovation and access to products used in drill bits for oil and gas wells and in the provision of directional drilling services and well completion services.
Under its agreement with the regulator, Schlumberger has agreed to sell US Synthetic, a subsidiary of ChampionX and manufacturer of PCD cutters and bearings, and to license intellectual property relating to quartz transducers owned by Quartzdyne, another business of ChampionX.
Schlumberger provides services and equipment to the oil and gas industry in Canada and around the world.
It announced the completion of its all-stock deal to acquire ChampionX on Wednesday.
This report by The Canadian Press was first published July 16, 2025.