2024-04-03 09:32:55 ET
Summary
- Schlumberger, a leading oil and gas equipment/services provider, has announced a major M&A deal to acquire rival ChampionX for $8 billion.
- The energy sector has seen an acceleration in multi-billion dollar M&A deals, primarily in the upstream sector.
- This deal comes with significant operating and financial synergies, making SLB an attractive stock at a time of strong industry and pricing tailwinds.
Introduction
After covering a wide range of energy companies in the past few months, I found another reason to discuss the energy sector - in this case, Schlumberger Ltd. ( SLB ) , one of the world's leading oil and gas equipment/services providers.
Headquartered in Paris, Houston, London, and The Hague, the company, which changed its brand name to "SLB," operates four divisions, each with unique capabilities to assist a wide range of energy companies in their daily operations:
- Digital & Integration
- Reservoir Performance
- Well Construction
- Production Systems
Read the full article on Seeking Alpha
For further details see:
Champion Move: Why SLB's Acquisition Makes It An Even Bigger Steal