Today, the Norwegian Competition Authority has approved a number of remedial measures related to Schlumberger’s acquisition of ChampionX.
On 26 May 2025, the Norwegian Competition Authority approved the merger between Schlumberger Limited and ChampionX Corporation, subject to remedies. At the time, ChampionX signed an agreement to sell its subsidiary, US Synthetic, to LongRange Capital.
The companies have since then entered into additional agreements with third parties to ensure compliance with the Authority’s remedial decision.
ChampionX has signed long-term supply agreements ensuring oil service providers Baker Hughes and Weatherford continued access to products and services from ChampionX’s Quartzdyne business. These agreements come in addition to the general supply obligations in the Authority’s 26 May decision. The supply obligations will remain in effect for five years.
Finally, ChampionX has entered into a global license agreement with the sensor manufacturer Précis. This agreement is meant to facilitate Précis’ entry into the market for quartz transducers, that are used in permanent well monitoring and directional drilling on the Norwegian Continental Shelf.
The Authority has received signed copies of the agreements from the parties for review and has now approved them.
The Norwegian Competition Authority’s case is concluded, and the parties’ standstill obligations no longer apply.
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