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US upstream deal frenzy spreads to oilfield services

The oilfield services sector, which has largely sat on the sidelines during the current round of consolidation among US producers, may finally be catching up.

United statesStephen cunninghamLe peuchOlivier le peuchLiberty energyNextier oilfield solutionsSpears associatesFederal reserve bankNorth americanAker carbon capture

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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United statesNew yorkScottj levineRonak bhallaOlivier le peuchSpears associatesOil services industryChampionx corpNorth americaExecutive officer olivier le peuchOil services

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.

United statesNew yorkOlivier le peuchSpears associatesChampionx corpNorth americaExecutive officer olivier le peuchOil and gas

Blackstone to acquire drill bits maker Ulterra Drilling Technologies

Blackstone Group has agreed to purchase Ulterra Drilling Technologies, a Texas-based manufacturer of drill bits and downhole tools, for around 700m.

United statesBaker hughesSpears associatesBlackstone groupNine energy servicesCarlyle groupMagnum oil toolsNational oilwell varcoZbynek burivalUlterra drilling technologiesNational oilwellLime rock partners

GE to buy Lufkin Industries for $3 3bn

GE to buy Lufkin Industries for $3 3bn
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Johnf jay glickDanielc heintzelmanSpears associatesLufkin industriesGe oil gas