Oil and Gas News

Apergy, ChampionX merge as one company

Apergy and ChampionX have officially merged under the name ChampionX, a new company that promises to be an essential player and long-term winner in the oil and gas industry.

The change comes following the completion of the merger of the businesses of Apergy and ChampionX, enabling both to bring together a unique platform to the sector.

In December last year, the companies announced that their boards had approved a joint agreement to be renamed ChampionX.

As a result, ChampionX will own about 62 per cent of the combined company on a fully diluted basis, with existing shareholders of Apergy owning about 38 per cent of the combined company on a fully diluted basis.

The new company will now be a global leader in chemistry programs and services, drilling technology, artificial lift solutions, and automation technologies for the upstream and midstream oil and gas industry.

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