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ChampionX Corporation (CHX) is a global leader in providing innovative solutions and technologies to the oil and gas industry. The company specializes in enhancing oil and gas production, transportation, and sustainability through its diverse portfolio of chemical solutions, artificial lift systems, and advanced digital technologies. CHX serves the upstream and midstream markets, offering products and services that address critical challenges such as corrosion control, flow assurance, and asset optimization.
- Production Chemical Technologies - Provides chemical solutions to manage corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related challenges in oil and gas production and midstream markets.
- Production & Automation Technologies - Designs, manufactures, and services artificial lift equipment, digital automation solutions, and other production equipment to optimize oil and gas extraction and monitoring.
- Drilling Technologies - Develops and markets polycrystalline diamond cutters and bearings for oil and gas drill bits under the US Synthetic brand.
- Reservoir Chemical Technologies - Manufactures specialty products for well stimulation, construction (e.g., drilling and cementing), and remediation in the oil and gas industry.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Deric Bryant Executive | COO and President, Chemical Technologies | None | Deric Bryant joined CHX in June 2020 as COO and President, Chemical Technologies, following the acquisition of the Chemical Technologies business from Ecolab Inc.. | |
Jordan Zweig Executive | Senior Vice President and Chief Human Resources Officer | None | Jordan Zweig joined CHX in 2020 as part of the Reverse Morris Trust transaction, previously VP at Ecolab. | |
Julia Wright Executive | Senior Vice President, General Counsel, and Secretary | None | Julia Wright is the Senior Vice President, General Counsel, and Secretary, confirmed as of December 26, 2024. | |
Kenneth M. Fisher Executive | Executive Vice President and CFO | None | Kenneth M. Fisher has served as the Executive Vice President and CFO since 2021. He previously held the same role at Noble Energy, Inc.. | |
Paul E. Mahoney Executive | President of Production & Automation Technologies | None | Paul E. Mahoney has been President of Production & Automation Technologies since 2018, previously President of Dover Artificial Lift. | |
Robert K. Galloway Executive | President of Drilling Technologies | None | Robert K. Galloway has been President of Drilling Technologies since 2018, previously serving as President of US Synthetic. | |
Sivasankaran Somasundaram Executive | President and CEO | None | Sivasankaran Somasundaram has been the President and CEO of ChampionX since April 18, 2018. He led the spin-off from Dover Corporation and the merger with Chemical Technologies. | View Report → |
Syed Raza Executive | Senior Vice President and Chief Digital Officer | None | Syed Raza has been the Senior Vice President and Chief Digital Officer since 2018, previously President of Dover Energy Automation. | |
William O’Dell, Jr. Executive | President of Oilfield and Specialty Performance | None | William O’Dell, Jr. has been President of Oilfield and Specialty Performance since 2020, previously VP at Nalco Champion. | |
Carlos A. Fierro Board | Director | Senior Advisor at Guggenheim Securities; Advisory Board Member at Greenbelt Capital Partners | Carlos A. Fierro joined the Board on February 15, 2023, with over 35 years in the natural resources sector. | |
Daniel W. Rabun Board | Chairman of the Board of Directors | Board Member at Golar LNG Ltd., APA Corporation, and Borr Drilling Ltd. | Daniel W. Rabun has been Chairman since May 9, 2018, with significant leadership experience in the oil and gas industry. | |
Elaine Pickle Board | Director | Board Member at DT Midstream, Inc.; Board Member at Theatre Under the Stars | Elaine Pickle joined the Board on February 15, 2023, with over 30 years of audit experience in the energy industry. | |
Gary P. Luquette Board | Independent Director | None | Gary P. Luquette has been an Independent Director since May 9, 2018, with extensive experience in the energy sector. | |
Stuart Porter Board | Director | Founder, Managing Partner, CEO, and CIO of Denham Capital; Board Member at GameSquare Holdings, Inc. | Stuart Porter has been a director since June 3, 2020, with extensive experience in energy investments. |
- Your Production & Automation Technologies segment experienced a 6% sequential revenue decline and an 11% decrease in adjusted EBITDA due to seasonality and deferred digital purchases; how do you plan to address these challenges to ensure consistent growth in this segment?
- With your Drilling Technologies segment revenue down 15% sequentially and 13% year-over-year, largely due to lower U.S. land rig counts and customer destocking, what specific strategies are you implementing to mitigate these industry headwinds and improve performance in this segment?
- Despite strong growth in Production Chemical Technologies, your overall fourth-quarter revenue was flat sequentially and down 4% year-over-year; can you elaborate on your plans to drive top-line growth across all segments amid competitive pressures and market uncertainties?
- Given the anticipated increase in freight costs impacting first-quarter margins and the expectation of stable pricing in 2024, how confident are you in achieving margin expansion primarily through productivity improvements, and what specific initiatives will support these gains?
- Considering Reservoir Chemical Technologies saw a 15% sequential and 17% year-over-year revenue decline due to exiting low-margin product lines, how do you intend to reposition this segment for sustainable growth, and what are your expectations for its future profitability?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Key competitor in the Production Chemical Technologies, Reservoir Chemical Technologies, and Production & Automation Technologies segments. Competes in oil and gas production and drilling equipment manufacturing and supply. | |
Clariant AG | Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, offering chemical solutions for oil and gas production. |
Multi-Chem (a Halliburton Service) | Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, providing chemical solutions for oil and gas operations. |
M-I SWACO (a Schlumberger company) | Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, offering chemical and drilling solutions. |
CES Energy Solutions Corp. | Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, providing chemical solutions for oilfield operations. |
SNF | Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, specializing in chemical solutions for oil and gas production. |
Kemira | Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, offering chemical solutions for oilfield applications. |
Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, providing specialty chemicals for oil and gas production. | |
Rockwater | Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, offering chemical solutions for oilfield operations. |
Key competitor in the Production & Automation Technologies segment, providing oilfield services and equipment. | |
Key competitor in the Production & Automation Technologies and Drilling Technologies segments, offering oilfield services and drilling solutions. | |
Competes in the Production & Automation Technologies segment, providing oilfield equipment and services. | |
Competes in the Production & Automation Technologies segment, offering oilfield services and equipment. | |
Competes in the Production & Automation Technologies segment, providing tubular solutions for oil and gas operations. | |
DeBeers (Element 6) | Key competitor in the Drilling Technologies segment, specializing in polycrystalline diamond cutter (PDC) technology. |
Competes in the Drilling Technologies segment, offering advanced PDC technology for drilling applications. | |
Various suppliers in China | Compete in the Drilling Technologies segment, providing polycrystalline diamond cutter (PDC) technology and related products. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
RMSpumptools Limited | 2024 | Completed on July 8, 2024, for $106.1 million, with the deal structured to record $53.0 million in definite-lived intangible assets and $45.0 million in goodwill while assuming liabilities of $29.0 million (including a $13.8 million deferred tax liability). The acquisition strategically enhances ChampionX’s Production & Automation Technologies segment and bolsters its international artificial lift business. |
Artificial Lift Performance Limited | 2024 | Acquired on February 26, 2024, with an initial payment of $13.4 million (plus additional deferred payments including $1.7 million and up to $3.0 million in earn-out potential) and structured to record $10.4 million in intangible assets and adjusted goodwill from $6.9 million to $9.4 million. This deal strategically strengthens ChampionX’s digital analytics offerings by integrating ALP’s advanced Pump Checker™ software with its XSPOC™ platform. |
OTS Consulting Services LLP | 2024 | Completed on January 5, 2024, for $8.7 million (with an alternate mention of an initial payment of $8.4 million), resulting in $6.4 million in recorded goodwill. The acquisition brings ChampionX advanced IT and digital transformation capabilities from this Pune-based engineering services company, further integrating these services into its Production & Automation Technologies segment. |