CHX's Short-Term Outlook Is Not Constrained
Since combining with Ecolab's (ECL) upstream servicing business in June, ChampionX Corporation's (CHX) focus has been on chemistry sales because of the resilience in energy production. The second most important driver has been its international operation extension. As a result, Australia and the Middle East have been its robust growth drivers in recent times, offsetting some of the slowdowns in North America. However, it will not shake off the adverse effects of the deterioration in the artificial lift business following the capex fall and production shut-in.
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