ChampionX announced the acquisition of Scientific Aviation Inc. on July 5, making progress toward the goal of meaningfully reducing global methane emissions.
Scientific Aviation is an airborne research company that specializes in emissions detection and quantification of greenhouse gases and trace gas measurements for air quality. ChampionX, which is a merger of Apergy and Ecolab’s upstream energy business, has established a strong presence in four key areas—chemicals, artificial lift, diamond drilling technologies and digital solutions—and is highly levered to increasing global production and international growth.
By combining technologies of both the companies with ChampionX’s extensive network of field technicians, the deal is expected to support upstream and midstream operators by strengthening their environmental management practices and reducing global methane emissions.
“Scientific Aviation is a strategic fit with ChampionX for many reasons,” Soma Somasundaram, President and CEO of Champion X, told Hart Energy. “Importantly, we will grow faster together. ChampionX has a leading production wellsite presence that will help Scientific Aviation scale up much faster, especially with our existing oil and gas customers. We will provide significant market access and channel through our Production & Automation Technologies and Chemical Technologies field organizations.”
In an official press release, Somasundaram also noted that the acquisition further demonstrates the company’s commitment to the strategic priority of evolving its portfolio for sustained growth as the energy industry evolves.
“This acquisition follows our investment in QLM Technology Ltd. and is consistent with our growth pathway of building out our emissions management portfolio that helps our customers achieve their emissions reduction goals. We are excited about the future growth potential as we combine Scientific Aviation’s industry leading methane emissions detection and monitoring solutions with our extensive expertise and presence in upstream production well sites and midstream solutions,” he said.
Recommended Reading
CorEnergy Infrastructure to Reorganize in Pre-packaged Bankruptcy
2024-02-26 - CorEnergy, coming off a January sale of its MoGas and Omega pipeline and gathering systems, filed for bankruptcy protect after reaching an agreement with most of its debtors.
NGL Growth Leads Enterprise Product Partners to Strong Fourth Quarter
2024-02-02 - Enterprise Product Partners executives are still waiting to receive final federal approval to go ahead with the company’s Sea Port Terminal Project.
After Megamerger, Canadian Pacific Kansas City Rail Ends 2023 on High
2024-02-02 - After the historic merger of two railways in April, revenues reached CA$3.8B for fourth-quarter 2023.
Enbridge Advances Expansion of Permian’s Gray Oak Pipeline
2024-02-13 - In its fourth-quarter earnings call, Enbridge also said the Mainline pipeline system tolling agreement is awaiting regulatory approval from a Canadian regulatory agency.
Canadian Natural Resources Boosting Production in Oil Sands
2024-03-04 - Canadian Natural Resources will increase its quarterly dividend following record production volumes in the quarter.