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SLB to Buy Oilfield Service Rival ChampionX for $7 8 Billion

SLB to Buy Oilfield Service Rival ChampionX for $7 8 Billion
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SLB to expand oil and gas production portfolio with $7 8 billion ChampionX acquisition

The acquisition will help SLB expand its artificial lift technology, which helps keep output from older wells flowing. SLB has the biggest market share in artificial lift with 21%, and ChampionX will add to that with its 5% of the market, according to Evercore ISI, citing data from industry consultant Spears & Associates.

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