ChampionX sells specialty chemicals, artificial lift equipment, and digital technologies to oil and gas operators. The company's core business is production chemicals — consumable specialty chemicals like corrosion inhibitors, scale inhibitors, and biocides that operators must continuously apply to producing wells and pipelines regardless of drilling activity. This makes ChampionX's largest segment (Production Chemical Technologies, ~67% of revenue) a recurring, OpEx-driven business that grows with total fluids produced rather than rig count. The second core business is artificial lift systems, which boost production from aging reservoirs using ESP, rod lift, gas lift, and other technologies. ChampionX pairs its lift hardware with digital automation tools that allow operators to monitor and optimize well performance remotely. ChampionX also sells PDC drill inserts and bearings through a smaller drilling technologies segment, and chemical additives for drilling and completions through a reservoir chemicals segment — though ChampionX has been actively exiting lower-margin product lines in the latter. ChampionX sells primarily through a direct field sales force and technical account managers, positioning itself as a high-touch, on-site partner to operators. The business is capital-light relative to oilfield services peers, with management targeting 50–60% conversion of adjusted EBITDA into free cash flow. ChampionX is expanding into methane emissions monitoring, where new EPA regulations could significantly expand the addressable market.