July 17, 2025 – Gatineau, QC — The Competition Bureau of Canada has struck a deal with global oilfield services giant Schlumberger Limited to address antitrust concerns over its proposed acquisition of ChampionX Corporation. The agreement, announced Tuesday, aims to preserve competition in Canada’s oil and natural gas sector by ensuring continued access to specialized oilfield technologies.
Following a detailed review, the Bureau concluded that the merger would likely reduce competition in the supply of several critical oilfield components, including polycrystalline diamond (PCD) cutters and bearings, as well as quartz transducers—tools essential in drilling and well completion.
To resolve these concerns, Schlumberger has agreed to divest US Synthetic, a ChampionX subsidiary and a leading manufacturer of PCD technologies. It will also license intellectual property related to quartz transducers owned by Quartzdyne, another business under ChampionX.
“The Bureau’s investigation found that the transaction could lead to reduced innovation and limited access to specialized drilling products in Canada,” said the agency in its statement. “The divestitures and licensing commitments fully address those concerns.”
The consent agreement, now filed with the Competition Tribunal, carries the force of a court order and ensures that market conditions remain competitive post-merger.
Schlumberger and ChampionX both operate globally and are major players in providing technologies and services to the oil and gas industry. The Bureau noted that both parties cooperated fully during the review process.
Industry observers say the outcome reflects the Bureau’s increasingly active stance in reviewing mergers in sectors critical to Canada’s economy and energy infrastructure.
The full consent agreement is available on the Competition Tribunal’s website.
