National Energy Services Reunited Corp. (NasdaqCM:NESR) entered into a preliminary agreement to acquire business from Action Energy Company W.L.L. for $51 million on April 1, 2021. On May 5, 2021, NESR executed the Sale and Purchase Agreement. Pursuant to the agreement, consideration consists of $36.8 million in cash to be paid at closing and $17.2 million paid six months following the initial closing, subject to certain conditions. The agreement also includes additional earnouts of approximately $2 million to be paid over the contracts' terms. The transaction is expected to close during second quarter of 2021. Freshfields Bruckhaus Deringer LLP and Meysan Partners acted as legal advisors to National Energy Services Reunited Corp. International Counsel Bureau acted as legal advisor to Action Energy Company W.L.L.