In April, SLB entered into an agreement to buy ChampionX in an all-stock transaction that values the company at roughly $7.74 billion. (Source: Shutterstock)
ChampionX has closed its acquisition of RMSpumptools Ltd., a designer and manufacturer of mechanical and electrical solutions for complex artificial lift applications, from U.K.-based James Fisher and Sons Plc., ChampionX said on July 9.
The March deal was valued at £86 million (US$110 million).
In April, SLB entered into an agreement to buy ChampionX in an all-stock transaction that values the company at roughly $7.74 billion. The deal is currently undergoing a second round of scrutiny by the Department of Justice, SLB said on July 3.
Adding RMSpumptools technology to ChampionX’s production and automation technologies’ portfolio (PAT) will allow the company to deliver greater value to customers and create growth opportunities in international markets such as the Middle East, Latin America and global offshore projects, said Sivasankaran "Soma" Somasundaram, company president and CEO.
“RMSpumptools’ comprehensive range of products and services complement and integrate seamlessly with the PAT business segment and our strong presence in North America provides opportunities to grow RMSpumptools’ footprint in this important market,” Somasundaram said. “ChampionX intends to operate RMSpumptools as a standalone business unit within the PAT business segment and is committed to continuing the high level of customer service that all of RMSpumptools’ customers have come to expect.”
RMSpumptools is a leader in electrical penetrator and connector systems, mechanical completion systems and intervention tools, subsea connector systems, and electric submersible pumps monitoring, ChampionX said. RMSpumptools designs, manufactures and delivers its solutions from the U.K., Saudi Arabia and the United Arab Emirates.
Recommended Reading
Cheniere Produces First LNG in Corpus Christi Expansion Project
2024-12-30 - Houston-based Cheniere adds to quickly growing U.S. production capacity.
Venture Global’s Plaquemines LNG Starts Production
2024-12-14 - Venture Global LNG reached a final investment decision on the 20 million metric tons per annum Plaquemines facility 30 months ago.
Kinder Morgan to Boost NatGas Capacity in Texas
2024-10-16 - Kinder Morgan said it has made FID for the Gulf Coast Express expansion and confirmed a new pipeline project to move gas to the site of future Southeast Texas LNG export facilities.
First-half 2024's US LNG Exports Rise 3%, DOE Says
2024-10-11 - U.S. LNG exports rose 3% in the first half of 2024 compared to the same six month period in 2023 and the top 10 countries importing U.S. LNG accounted for 67% of the North American country’s LNG exports in the first half of 2024, according to a recent report from the U.S. DOE.
Venture Global Plaquemines Plant on Track to Produce LNG
2024-12-13 - Venture Global LNG’s Plaquemines plant was on track to pull in about 0.16 Bcf/d of pipeline gas on Dec. 13, up from 0.10 Bcf/d on Dec. 12, according to LSEG data.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.