Championx Corporation Stock Price, News & Analysis

ChampionX Corporation (CHX) is described in its public communications as a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. The company’s expertise, products, and digital technologies are stated to support enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well, with a particular focus on the production phase of wells.

ChampionX is associated with the oil and gas field machinery and equipment manufacturing industry within the broader manufacturing sector. Its stock previously traded on Nasdaq under the symbol CHX. A Form 15 filed with the U.S. Securities and Exchange Commission indicates that ChampionX Corporation has terminated the registration of its common stock under Section 12(g) of the Securities Exchange Act of 1934 and suspended its duty to file reports under Sections 13 and 15(d). The filing notes that there was approximately one holder of record at the time of certification.

Business focus and capabilities

According to multiple company news releases, ChampionX’s offerings center on chemistry solutions, artificial lift systems, and engineered equipment and technologies for the upstream and midstream oil and gas industry. The company states that its portfolio is oriented toward production optimization solutions for the energy industry, aiming to help operators maximize the value of producing assets. Its communications emphasize support for safe and efficient drilling and production operations and the use of digital technologies for monitoring and optimization.

ChampionX also highlights emissions-related technologies. Its emissions technologies business references real-time emissions monitoring and solutions designed to detect and manage methane and other greenhouse gas emissions. One example is its Aerial Optical Gas Imaging (AOGI) platform, which the company reports has received approval from the U.S. Environmental Protection Agency for use under a Methane Alternative Test Method. ChampionX describes this as a component-level platform intended to support emissions monitoring programs.

Key business segments referenced in disclosures

In its earnings news releases, ChampionX describes several reporting segments within its portfolio:

• Production Chemical Technologies – Focused on production chemicals and related technologies used to support oil and gas production and associated operations.
• Production & Automation Technologies – Focused on production technologies and automation, including digital products and software used in production optimization and artificial lift applications.
• Drilling Technologies – Includes US Synthetic Corporation, which offers polycrystalline diamond cutters, bearings, valves, and mining tools used in demanding drilling projects. ChampionX has announced a definitive agreement to sell all of its equity interests in US Synthetic Corporation to LongRange Capital, subject to customary closing conditions and the closing of a previously announced transaction between ChampionX and SLB.
• Reservoir Chemical Technologies – Focused on chemistry and related services used in reservoir applications.

These segment descriptions are drawn from ChampionX’s own reporting of its financial results and business highlights and illustrate how the company organizes its activities across production chemicals, production technologies and automation, drilling-related products, and reservoir chemistry.

Corporate transactions and status

ChampionX has publicly reported that on April 2, 2024, it entered into a definitive Agreement and Plan of Merger with Schlumberger Limited (SLB), Sodium Holdco, Inc., and Sodium Merger Sub, Inc. Under this agreement, and subject to the terms and conditions described, Sodium Merger Sub, Inc. will merge with and into ChampionX, with ChampionX surviving the merger as an indirect wholly owned subsidiary of SLB. Company communications state that the transaction was unanimously approved by the ChampionX board of directors and received approval from ChampionX stockholders at a special meeting held on June 18, 2024, and that the closing of the transaction is subject to regulatory approvals and other customary closing conditions.

In addition, ChampionX has reported a definitive agreement to sell US Synthetic Corporation, which comprises its Drilling Technologies segment, to LongRange Capital. This transaction is described as being subject to customary closing conditions and to the closing of the transaction between ChampionX and SLB.

The Form 15 filing for ChampionX Corporation indicates that the company has terminated the registration of its common stock under the Exchange Act and suspended its reporting obligations, reflecting a change in its status as a standalone publicly reporting company. The filing identifies the class of securities covered as common stock, par value $0.01 per share, and notes that there were approximately one holder of record as of the certification date.

Dividends and capital profile references

ChampionX has issued multiple news releases announcing regular quarterly cash dividends on its common stock. These announcements describe a recurring dividend amount per share and specify record and payment dates. The company’s communications also reference its cash flow generation, liquidity, and the use of non-GAAP financial measures such as adjusted EBITDA, adjusted EBITDA margin, and free cash flow to describe its financial performance and cash generation profile. These references are presented by the company as part of its discussion of financial condition and results of operations.

Emissions and digital technologies

ChampionX’s public statements describe a range of emissions and digital technologies. The company highlights its emissions technologies business as combining industry expertise with technology to address environmental challenges, with solutions intended to help clients manage emissions-related requirements. Examples mentioned in its communications include the Aerial Optical Gas Imaging platform and other emissions monitoring technologies, as well as digital products and production optimization software that provide data-driven insights for production decisions.

Within its Production & Automation Technologies segment, ChampionX references digital products revenue and describes software and control systems used for production optimization and artificial lift operations. The company characterizes these digital offerings as providing monitoring, control, and optimization capabilities across various artificial lift systems and production environments.

Position within the energy value chain

Across its news releases, ChampionX consistently describes itself as supporting oil and gas operators across the lifecycle of a well, with particular emphasis on the production phase. Its chemistry solutions, artificial lift systems, and engineered equipment and technologies are presented as contributing to efficient production, transportation, and emissions monitoring. The company’s focus on production chemicals, production technologies and automation, drilling technologies, and reservoir chemistry situates it within the upstream and midstream portions of the oil and gas value chain.

CHX stock and investor considerations

The CHX ticker has been associated with ChampionX Corporation common stock on Nasdaq. With the filing of Form 15 to terminate registration and suspend reporting obligations, and with ChampionX’s description of an Agreement and Plan of Merger under which it will become an indirect wholly owned subsidiary of SLB, investors researching CHX should understand that the company’s status as an independent, Exchange Act–registered issuer has changed. Company communications also indicate that ChampionX has discontinued providing quarterly guidance in light of the pending acquisition by SLB and has noted that it may continue to pay regular quarterly cash dividends subject to limitations under the merger agreement.

All of the information above is drawn from ChampionX’s own news releases and its Form 15 filing with the SEC. For detailed financial data, segment performance, and risk factor discussions, the company refers readers to its Annual Reports on Form 10-K and other SEC filings made prior to the termination of registration.