ChampionX (CHX) said Tuesday that it has reached an agreement to sell all of its equity interests in US Synthetic to LongRange Capital.
Orem, Utah-based US Synthetic is the drilling technologies segment of ChampionX and manufactures polycrystalline diamond cutter inserts, bearings, valves, and mining tools for oil exploration and development projects.
The deal, the financial details of which have not been disclosed, is slated to be completed following the closing of the ChampionX and SLB transaction.
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