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
Chevron Buys 15.4MM Shares of Hess Stock on Open Market
2025-03-17 - Chevron Corp. reported that between January and March 2025 it purchased about 5% of Hess Corp. shares, according to a Securities and Exchange Commission filing.
TG Natural Resources Wins Chevron’s Haynesville Assets for $525MM
2025-04-01 - Marketed by Chevron Corp. for more than a year, the 71,000-contiguous-net-undeveloped-acreage sold to TG Natural Resources is valued by the supermajor at $1.2 billion at current Henry Hub futures.
Abu Dhabi’s Mubadala Buys Stake in Kimmeridge Shale Gas, LNG Ventures
2025-04-10 - Mubadala Energy, owned by Abu Dhabi’s sovereign wealth fund, is buying a stake in Kimmeridge Texas Gas (KTG) and Commonwealth LNG as the United Arab Emirates company makes an entry into U.S. shale.
Oxy, Looking to Cut Debt, Sells D-J Minerals to Elk for $905MM
2025-03-23 - Elk Range Royalties bought 250,000 net royalty acres in the Denver-Julesburg Basin for $905 million from Occidental Petroleum, which is looking to shed debt after last year's acquisition of CrownRock.
Will TG Natural Resources Be the Next Haynesville M&A Buyer?
2025-03-23 - TG Natural Resources, majority owned by Tokyo Gas, is looking to add Haynesville locations as inventory grows scarce, CEO Craig Jarchow said.
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.