Schlumberger Limited SLB has finally closed its merger with Cameron International Corporation.As announced earlier, every Cameron investor will be given 0.716 shares of Schlumberger common stock and cash worth $14.44 for each Cameron share they hold. Post merger, Schlumberger issued about 138 million shares, which resulted in former Cameron stockholders holding about 10% of Schlumberger’s outstanding shares of common stock.The transaction made way for the amalgamation of two complementary technology portfolios. The global oil and gas industry will now be able to get all the necessary pore-to-pipeline products and services from a single entity.The deal created the industry’s first comprehensive drilling and production system, which is supported by Schlumberger expertise in instrumentation, data processing, control software, and system integration as well as Cameron’s wellhead and surface equipment, flow control and processing technology.The proposed acquisition, first announced in Aug 2015, was approved by the U.S. Department of Justice (DoJ) without any clauses in mid-November. Thereafter, Cameron shareholders voted in favor of the merger on Dec 17, 2015. The deal also obtained antitrust clearances in Canada, Brazil, Russia and Mexico. Clearance from the European Commission (EU) was received in Feb 2016, while the last necessary approval was given by the Chinese Ministry of Commerce (MOFCOM) in Mar 2016.Through the merger Schlumberger aims to combine its downhole and subsurface offering with the Camerons’s subsurface technology. Per Schlumberger’s press release, the integration will offer technology-driven growth and form the first-of-its-kind complete drilling and production system in the industry.The deal would be beneficial not only to the merged company but also its customers. The Schlumberger-Cameron combination will rationalize operations and thus, cut expenses at a time when oil prices and profits are at all-time low levels. The new entity would also provide bundled services to its customers at lower prices than that paid to two separate companies for services and parts.Currently, Schlumberger carries a Zacks Rank #5 (Strong Sell). Some better-ranked players from the energy sector are ReneSola Ltd. SOL, Statoil ASA STO and Enviva Partners, LP EVA. Each of these stocks sports a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SCHLUMBERGER LT (SLB): Free Stock Analysis Report STATOIL ASA-ADR (STO): Free Stock Analysis Report RENESOLA LT-ADR (SOL): Free Stock Analysis Report ENVIVA PARTNERS (EVA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research