Core Viewpoint - SLB's acquisition of ChampionX Corp. for $7.8 billion aims to enhance its portfolio amid aging shale fields, while the company faces scrutiny for its continued operations in Russia despite sanctions [2][5][6] Group 1: Acquisition and Market Position - SLB agreed to acquire ChampionX Corp. for $7.8 billion in an all-stock deal, which will strengthen its position in the oilfield services market [2] - The acquisition is seen as a strategic move to provide better technology to U.S. drillers as they seek to maintain oil and gas production from aging shale fields [2] Group 2: Continued Operations in Russia - Despite U.S. sanctions imposed in January 2025, SLB has been reported to continue transferring proprietary drilling technology to Russian manufacturers as late as February 2025 [3][4] - SLB generated $1.4 billion in revenue from Russia in 2024, accounting for approximately 4% of the company's global total, indicating a significant ongoing presence in the Russian market [6] - The company has been criticized for its role in the Russian oil-service market, occupying 8% and contributing over $4.5 billion in taxes to the Russian economy [5][6] Group 3: Regulatory and Enforcement Challenges - SLB operates through a complex corporate structure that complicates U.S. enforcement of sanctions, allowing it to navigate regulatory gray areas [12][15] - The enforcement of sanctions has reportedly loosened under the current political climate, providing SLB with more flexibility in its operations [13][14] - The company has been actively recruiting young Russian engineers, suggesting a long-term commitment to its operations in Russia [9]