REG - Competition and Mkts - Merger Update: Schlumberger / ChampionX

Schlumberger NVAnnouncement

20/06/2025 15:15

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RNS Number : 5603N  Competition and Markets Authority  20 June 2025

 

Consultation on undertakings in lieu: Schlumberger/ChampionX

The Competition and Markets Authority (CMA) has opened a consultation on
undertakings in lieu of reference offered by the Parties to address
competition concerns identified by the CMA over the anticipated acquisition by
Schlumberger Limited of ChampionX Corporation (the Merger).

On 27 March 2025, the CMA announced that it would refer the Merger for an
in-depth, phase 2 investigation unless the Parties offered acceptable
undertakings in lieu to address the CMA's concerns.

To address the CMA's concerns, the Parties has offered undertakings in lieu of
a reference to the CMA, which involve (i) the divestment of the production
chemicals technologies (PCTs) business of Schlumberger Limited (SLB) in the
UK, (ii) the divestment of US Synthetic Corporation, a subsidiary of ChampionX
Corporation (ChampionX) which supplies polycrystalline diamond bearings used
in certain directional drilling services by SLB's rivals in the UK, and (iii)
a licence covering relevant intellectual property and trade secrets to a
CMA-approved alternative developer of quartz sensors and transducers
supporting the growth of an alternative supplier in this segment, together
with agreements to provide SLB's rival permanent downhole gauge suppliers in
the UK access to ChampionX's quartz sensors and transducers for an interim
period.

On 10 April 2025, the CMA announced that it would look in detail at these
offered undertakings in lieu. The CMA has until 8 August 2025 to consider
whether to accept the undertakings in lieu, or a modified version of them. As
part of this process, the CMA is now consulting publicly on whether the
proposal is sufficient to address the competition concerns identified by the
CMA.

Before reaching a final decision, the CMA is therefore inviting interested
parties to make their views known. The deadline for responses is 4 July 2025.

The consultation on the offered undertakings in lieu and all other information
relating to this merger investigation can be found on the dedicated case page
on the CMA's website at Schlumberger / ChampionX merger inquiry - GOV.UK
(https://www.gov.uk/cma-cases/schlumberger-slash-championx-merger-inquiry) .

In the event of media enquiries please email press@cma.gov.uk
(mailto:press@cma.gov.uk) .

 

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