Schlumberger Limited has successfully negotiated a preliminary consent agreement with the Canadian Competition Bureau concerning its proposed acquisition of ChampionX Corporation.

Schlumberger Limited has successfully finalized an agreement with the Canadian Competition Bureau concerning its proposed acquisition of ChampionX Corporation. This acquisition has prompted competition concerns in three product markets: polycrystalline diamond cutters, polycrystalline diamond bearings, and quartz transducers. To alleviate these concerns, Schlumberger has agreed to sell a subsidiary that produces polycrystalline diamond cutters and bearings, as well as to license intellectual property associated with quartz transducers.