Civeo Reports Fourth Quarter and Full Year 2023 Results Highlights: HOUSTON and CALGARY, February 29, 2024 (BUSINESS WIRE) -- Civeo Corporation (NYSE:CVEO) today reported financial and operating results for the fourth quarter and year ended December 31, 2023. "We ended 2023 in a solid financial position. Our continued discipline in capital allocation and strong cash flow enabled us to reach our target leverage ratio and return capital to shareholders through continued share repurchases and the initiation of ...

Financial Performance - For the year ended December 31, 2023, the company generated $700.8 million in revenues, a slight increase from $697.1 million in 2022, and significantly up from $594.5 million in 2021, representing a 17.7% increase from 2021 to 2023[30] - Operating income for 2023 was $39.5 million, compared to $17.0 million in 2022 and $6.1 million in 2021, indicating a substantial improvement in profitability[30] - Approximately 50% of the company's revenue for the year ended December 31, 2023, was generated from Canadian operations[47] - The Athabasca oil sands region accounted for approximately 67% of Canadian revenue, equating to 34% of consolidated revenue[57] - During the year ended December 31, 2023, revenues from lodges and villages represented over 63% of consolidated revenues[94] - The company’s largest customers in 2023 were Suncor Energy and Fortescue Metals Group Ltd., each accounting for more than 10% of total revenues[90] - The company experienced approximately C$39 million in revenues associated with room commitments at the McClelland Lake Lodge through July 2023[182] - Approximately 98% of the company's revenues for the year ended December 31, 2023, originated from subsidiaries outside the U.S., primarily in Canadian and Australian dollars[214] Operational Highlights - Hospitality services at lodges and villages accounted for 63% of total revenue in 2023, highlighting the importance of this segment to the company's overall performance[30] - The total accommodation revenue for 2023 was $455.965 million, up from $435.227 million in 2022, reflecting a growth of 4.0% year-over-year[31] - The company operates 24 lodges and villages with approximately 26,000 rooms and manages about 14,200 rooms owned by customers, indicating a significant scale of operations[29] - The company operates 16,952 rooms across its Canadian lodges as of December 31, 2023, a decrease from 18,949 rooms in 2022[66] - In Australia, the company owned 8,910 rooms across eight villages as of December 31, 2023, with 7,488 rooms servicing the Bowen Basin[70] - The Australian operations contributed 48% of the company's revenue for the year ended December 31, 2023[70] - The five villages in the Bowen Basin generated 47% of Australian revenue, equating to 23% of consolidated revenue for the year ended December 31, 2023[74] - The company provides hospitality services at 18 customer-owned locations, representing over 12,600 rooms, primarily in the Pilbara region of Western Australia[82] Strategic Initiatives - The company has a strategic focus on expanding its services in the Canadian LNG market, particularly with the Sitka Lodge positioned to support the Kitimat LNG Facility expected to be operational in 2024[35] - The acquisition of Noralta Lodge Ltd. in 2018 expanded the company's capacity in Canada, adding over 5,700 owned rooms and enhancing its position as the largest third-party provider of accommodations in the Canadian oil sands region[34] - The company’s growth plan includes enhancing occupancy and expanding properties where there is durable long-term demand[79] Sustainability and Compliance - The company emphasizes sustainability initiatives, including water conservation and reducing carbon footprint through infrastructure improvements and alternative water supply options[27] - The company’s operations are significantly affected by stringent environmental laws and regulations, which could increase compliance costs and impact demand for its services[107] - The Alberta Energy Regulator requires operators to reduce methane emissions by 45% by 2025, impacting operational costs for customers[113] - The federal government plans to reduce methane emissions in the oil and gas sector by at least 75% below 2012 levels by 2030, which may impose additional costs on customers[120] - The Greenhouse Gas Pollution Pricing Act's backstop price will increase to $65 per tonne of CO2e in 2024, with a planned rise to $170 by 2030, affecting operational costs[121] - The proposed cap-and-trade system for oil and gas emissions in Canada may result in additional costs or liabilities for customers, with emissions limits phased in between 2026 and 2030[123] - The Alberta government increased the carbon price and annual benchmark tightening rates under the TIER Regulation, which may lead to additional costs for customers' operations[125] Workforce and Labor - The company had approximately 1,600 full-time employees and 1,000 hourly employees as of December 31, 2023, with 47% located in Canada and 52% in Australia[101] - The company is committed to competitive compensation and benefits to attract and retain employees, including short- and long-term incentive packages[104] - The company emphasizes safety as a foundational pillar of its corporate culture, with initiatives aimed at eliminating harm and achieving exceptional performance[105] - The company prioritizes training and career development, focusing on technical and managerial competencies to support its industry leadership position[106] - The company has collective bargaining agreements covering 1,818 employees in Canada and Australia, which could increase costs or limit operational flexibility[196] - The company has experienced a shortage of skilled labor, leading to increased reliance on more expensive temporary labor resources[193] Risks and Challenges - The company is exposed to commodity price volatility, which can impact customer spending and demand for services[170] - Public health crises, such as the COVID-19 pandemic, have significantly disrupted global economic activity and may continue to affect operations and demand for oil and natural gas[174] - The company is subject to extensive environmental laws and regulations, which could impose additional costs and operational challenges[171] - The willingness of natural resources companies to invest in projects is sensitive to commodity price outlooks, which can lag behind market changes by three to six months[170] - The company is highly dependent on significant customers in the natural resources industry, which poses a risk of substantial revenue loss if any major customer is lost[179] - The company may face challenges in retaining customers and renewing contracts, particularly during periods of market volatility[181] - The company’s profitability may be constrained by increased operating costs that cannot be fully recovered through pricing or contract terms[190] Asset Management - The company recorded impairments of long-lived assets totaling $1.4 million in 2023, with previous impairments of $5.7 million in 2022 and $7.9 million in 2021[216] - Goodwill at the Australian reporting unit represented 1% of total assets, or $7.7 million, as of December 31, 2023[216] - The total ARO liabilities on the balance sheet amounted to $16.2 million, with potential for significantly larger cash obligations if remediation requirements are accelerated[202] - The company’s major Canadian lodges are located on leased land, with potential risks associated with lease renewals and compliance with regulations[200] Financial Position - The company had approximately $65.6 million outstanding under the revolving portion of its Credit Agreement as of December 31, 2023[221] - An additional $133.1 million remained available to borrow under the revolving portion of the Credit Agreement[221]

HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its fourth quarter 2023 earnings conference call for Thursday, February 29, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the fourth quarter 2023, which will be released before the market opens on Thursday, February 29, 2024. By Phone: Dial 877-423-9813 inside the U.S. or 201-689-8573 internationally and ask for the ...

HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today that its board of directors has declared a quarterly cash dividend of $0.25 per common share, payable on March 18, 2024 to shareholders of record as of close of business on February 26, 2024. For purposes of the Income Tax Act (Canada), the Company has designated this dividend to be an "eligible dividend". About Civeo Civeo Corporation is a leading provider of hospitality services with prominent market positions in ...

Civeo Corporation (NYSE:CVEO) Q3 2023 Earnings Conference Call October 27, 2023 11:00 AM ET Company Participants Regan Nielsen - Vice President, Corporate Development and Investor Relations Bradley Dodson - President and Chief Executive Officer Carolyn Stone - Senior Vice President, Chief Financial Officer and Treasurer Conference Call Participants Steve Ferazani - Sidoti & Company Alec Scheibelhoffer - Stifel David Storms - Stonegate Capital Markets Operator Greetings, and welcome to Civeo Corporation Thir ...

(Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices) (713) 510-2400 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Yes ☒ No ☐ Non-Accelerated ...

Financial Data and Key Metrics Changes - Total revenues for Q2 2023 were $178.8 million, with GAAP net income of $4.5 million or $0.30 per diluted share [6][60] - Adjusted EBITDA for the quarter was $31.6 million, operating cash flow was $19.4 million, and free cash flow was $12.9 million [6] - On a constant currency basis, revenues decreased by 8%, primarily due to a decline in mobile camp activity and lower billed rooms in Canadian lodges [61] Business Line Data and Key Metrics Changes - Revenues from the Canadian segment were $95.5 million, down from $109 million in Q2 2022, with billed rooms totaling 724,000, down from 771,000 [21][22] - For Australia, revenues increased to $82.5 million from $67.8 million year-over-year, with adjusted EBITDA rising to $19.6 million from $15.5 million [77] - Integrated services revenues were up 33%, driven by new contracts and increased occupancy in owned villages [3][64] Market Data and Key Metrics Changes - Australian billed rooms increased by 16% year-over-year, reaching 588,000 [7] - The average daily rate for Australian villages in U.S. dollars was $75, down from $77 in Q2 2022, primarily due to a weakened Australian dollar [7] - Canadian mobile camp activity is expected to wind down in the second half of the year, contributing to lower lodge occupancy [58][60] Company Strategy and Development Direction - The company is focused on enhancing hospitality offerings, managing costs, and maximizing free cash flow while returning capital to shareholders [65] - An inflation mitigation plan is in place, with expected benefits to be realized in the second half of 2023 [73][74] - The company is in active negotiations to sell the McClelland Lake Lodge assets, with minimal expected net demobilization costs [4][41] Management's Comments on Operating Environment and Future Outlook - Management noted that inflation will remain a focus, despite strides made in mitigating its impact [5] - The company expects to see a material improvement in integrated services margins in the second half of the year [14] - There is cautious optimism regarding labor costs and recruitment efforts, with ongoing challenges in finding labor impacting operations [90] Other Important Information - The company repurchased approximately 212,000 shares for a total cost of about $4.2 million during the quarter [78] - Capital expenditures for Q2 2023 were $6.9 million, up from $5.1 million in the same period last year, primarily for maintenance and activating additional rooms [62] Q&A Session Summary Question: What is the outlook for capital allocation if assets are sold? - Management indicated that comments on capital allocation would remain consistent regardless of asset sales [83] Question: How does the seasonal pattern of EBITDA generation look this year? - The company expects to generate the bulk of EBITDA in Q2 and Q3, similar to historical patterns [84] Question: What is the status of Australian margins and contract rollovers? - Management noted that while margins are expected to improve, the fourth quarter margins may still be lower than the third [85] Question: Are there any updates on labor costs and recruitment efforts? - Management acknowledged ongoing challenges with temporary labor and is cautiously optimistic about contract relief [90] Question: Is there any movement in M&A opportunities in the Australian market? - The company is seeing some asset transactions available in Canada, but nothing significant in Australia at this time [51]

Part I - FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for the three and six months ended June 30, 2023, and 2022, including statements of operations, comprehensive income, balance sheets, changes in shareholders' equity, and cash flows, with detailed notes [Unaudited Consolidated Statements of Operations](index=4&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Operations) This section details the company's revenues, costs, and expenses, leading to operating income and net income (loss), showing a decrease in Q2 2023 revenues and a net loss for the six-month period compared to the prior year Consolidated Statements of Operations (in Thousands, Except Per Share Amounts) | Financial Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $178,843 | $184,954 | $346,434 | $350,632 | | **Operating Income** | $10,172 | $14,242 | $6,268 | $18,479 | | **Net Income (Loss)** | $4,167 | $10,230 | $(2,144) | $12,138 | | **Diluted Net Income (Loss) Per Share** | $0.30 | $0.54 | $(0.13) | $0.60 | [Unaudited Consolidated Statements of Comprehensive Income (Loss)](index=5&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) This section reconciles net income (loss) to comprehensive income (loss), primarily showing the impact of foreign currency translation adjustments, with Q2 2023 seeing a significant positive swing due to favorable currency adjustments Consolidated Statements of Comprehensive Income (Loss) (in Thousands) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Income (Loss)** | $4,167 | $10,230 | $(2,144) | $12,138 | | **Foreign Currency Translation Adjustment** | $2,081 | $(20,024) | $(95) | $(12,012) | | **Comprehensive Income (Loss)** | $6,248 | $(9,794) | $(2,239) | $126 | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) This section presents the company's financial position as of June 30, 2023, compared to December 31, 2022, showing a slight decrease in total assets and shareholders' equity while total liabilities remained stable Consolidated Balance Sheet Highlights (in Thousands) | Account | June 30, 2023 (Unaudited) | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $175,878 | $153,549 | | **Total Assets** | $558,962 | $566,184 | | **Total Current Liabilities** | $102,682 | $128,257 | | **Total Liabilities** | $263,629 | $262,483 | | **Total Shareholders' Equity** | $295,333 | $303,701 | [Unaudited Consolidated Statements of Changes in Shareholders' Equity](index=7&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) This section details the changes in shareholders' equity accounts for the three and six months ended June 30, 2023, primarily driven by a net loss, common share repurchases, and share-based compensation, resulting in a decrease in total shareholders' equity Changes in Shareholders' Equity (in Thousands) | Description | Six Months Ended June 30, 2023 | | :--- | :--- | | **Balance, December 31, 2022** | $303,701 | | Net income (loss) | $(2,144) | | Currency translation adjustment | $(95) | | Common shares repurchased | $(7,970) | | Share-based compensation | $2,044 | | **Balance, June 30, 2023** | $295,333 | [Unaudited Consolidated Statements of Cash Flows](index=8&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Cash%20Flows) This section outlines cash movements from operating, investing, and financing activities for the six months ended June 30, 2023, resulting in a net increase in cash and cash equivalents for the period Consolidated Statements of Cash Flows (in Thousands) | Cash Flow Activity | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | **Net cash flows provided by operating activities** | $19,761 | $23,631 | | **Net cash flows used in investing activities** | $(8,998) | $(5,155) | | **Net cash flows used in financing activities** | $(6,919) | $(19,894) | | **Net change in cash and cash equivalents** | $3,467 | $(1,500) | [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) This section provides detailed explanations of accounting policies and specific financial statement items, noting changes in reportable segments and future revenue recognition - The company operates in two principal reportable business segments: Canada and Australia, with the U.S. operating segment no longer meeting quantitative thresholds as of Q1 2023[91](index=91&type=chunk)[236](index=236&type=chunk) Disaggregated Revenue by Segment (in Thousands) | Segment | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | **Canada** | $184,923 | $204,975 | | **Australia** | $159,533 | $131,349 | | **Other** | $1,978 | $14,308 | | **Total Revenues** | $346,434 | $350,632 | - As of June 30, 2023, the company expects to recognize **$670.5 million** in revenue from remaining performance obligations on contracts greater than one year[44](index=44&type=chunk)[66](index=66&type=chunk) - The company repurchased **380,900 common shares** for **$8.0 million** during the six months ended June 30, 2023[111](index=111&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and operational results, emphasizing the influence of commodity prices, inflation, and foreign exchange rates, while maintaining sufficient liquidity for future needs [Overview and Macroeconomic Environment](index=19&type=section&id=Overview%20and%20Macroeconomic%20Environment) The company's business is highly sensitive to commodity prices, particularly oil, metallurgical coal, LNG, and iron ore, facing inflationary cost pressures and the non-renewal of a significant Canadian contract, while Australian operations show strong growth - Demand for services is largely sensitive to expected commodity prices (oil, met coal, LNG, iron ore) and their impact on customer spending[96](index=96&type=chunk) - Inflation and supply chain issues have negatively impacted and are expected to continue to impact labor, food, and fuel costs[98](index=98&type=chunk) - The land lease and hospitality contract for McClelland Lake Lodge, which generated **~C$60 million** in 2022 revenue, expired in mid-2023, with the company actively marketing these assets for new opportunities[101](index=101&type=chunk)[147](index=147&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) This section compares operating results for the three and six-month periods ending June 30, 2023, and 2022, showing a decrease in consolidated revenues and operating income primarily due to reduced Canadian mobile asset activity and inflationary pressures, partially offset by Australian segment growth Q2 2023 vs Q2 2022 Results (in Thousands) | Metric | Q2 2023 | Q2 2022 | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $178,843 | $184,954 | $(6,111) | | **Operating Income** | $10,172 | $14,242 | $(4,070) | | **Net Income** | $4,463 | $9,568 | $(5,105) | H1 2023 vs H1 2022 Results (in Thousands) | Metric | H1 2023 | H1 2022 | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $346,434 | $350,632 | $(4,198) | | **Operating Income** | $6,268 | $18,479 | $(12,211) | | **Net (Loss) Income** | $(1,890) | $10,978 | $(12,868) | - Canadian segment revenue decreased **12%** in Q2 2023, driven by reduced mobile asset activity from pipeline projects and lower lodge occupancy[161](index=161&type=chunk) - Australian segment revenue increased **22%** in Q2 2023, driven by increased activity at owned villages and integrated services contracts[141](index=141&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2023, the company had total available liquidity of **$89.0 million**, consisting of cash and unused credit facility availability, with management asserting sufficiency to meet anticipated needs for the next 12 months Available Liquidity (in Thousands) | Component | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Unused availability | $77,611 | $96,130 | | Cash and cash equivalents | $11,421 | $7,954 | | **Total available liquidity** | **$89,032** | **$104,084** | - Expected capital expenditures for 2023 are in the range of **$35 million to $40 million**[178](index=178&type=chunk)[152](index=152&type=chunk) - Management believes that cash on hand and cash flow from operations will be sufficient to meet anticipated liquidity needs for the next 12 months[207](index=207&type=chunk) [Critical Accounting Policies](index=33&type=section&id=Critical%20Accounting%20Policies) The company confirms that there have been no material changes to the critical accounting policies and estimates as disclosed in its Annual Report on Form 10-K for the year ended December 31, 2022 - There have been no material changes to the judgments, assumptions, and estimates upon which the company's critical accounting estimates are based[186](index=186&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company identifies its principal market risks as exposure to changes in interest rates and foreign currency exchange rates, with hypothetical adverse movements potentially impacting interest expense and comprehensive loss - A **100 basis point increase** in floating interest rates would increase consolidated annual interest expense by approximately **$1.4 million**[214](index=214&type=chunk) - A hypothetical **10% adverse change** in the value of the Canadian and Australian dollar relative to the U.S. dollar would result in translation adjustments of approximately **$19 million** and **$22 million**, respectively[215](index=215&type=chunk) [Item 4. Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on an evaluation conducted by management, including the CEO and CFO, the company's disclosure controls and procedures were deemed effective as of June 30, 2023, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of June 30, 2023[216](index=216&type=chunk) - There were no changes in internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[225](index=225&type=chunk) Part II - OTHER INFORMATION [Item 1. Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various pending claims and lawsuits arising from its commercial operations, but management believes the ultimate liability will not have a material adverse effect on its financial position, results of operations, or liquidity - The company is party to various pending claims and lawsuits but believes the ultimate liability will not have a material adverse effect on its financial position, operations, or liquidity[218](index=218&type=chunk)[60](index=60&type=chunk) [Item 1A. Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) This section refers readers to the detailed discussion of risk factors included in the company's Annual Report on Form 10-K for the year ended December 31, 2022, indicating no material updates in this quarterly report - For information about risk factors, the report refers to the section entitled "Risk Factors" in the Annual Report on Form 10-K for the year ended December 31, 2022[227](index=227&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's common share repurchase activity for the second quarter of 2023, under which **212,222 common shares** were repurchased for approximately **$4.2 million** Common Share Purchases (Q2 2023) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2023 | — | — | | May 2023 | 97,420 | $20.11 | | June 2023 | 114,802 | $19.45 | | **Total** | **212,222** | **$19.75** | [Item 5. Other Information](index=35&type=section&id=Item%205.%20Other%20Information) The company reported no other material information for disclosure under this item for the period - None[229](index=229&type=chunk) [Item 6. Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications from the Chief Executive Officer and Chief Financial Officer pursuant to SEC rules, as well as Inline XBRL documents - Exhibits filed with this report include CEO and CFO certifications (31.1, 31.2, 32.1, 32.2) and Inline XBRL documents[38](index=38&type=chunk)

Civeo Corporation (NYSE:CVEO) Q1 2023 Earnings Conference Call April 28, 2023 11:00 AM ET Company Participants Regan Nielsen - Senior Director, Corporate Development & IR Bradley Dodson - President and CEO Carolyn Stone - SVP and CFO Conference Call Participants Steve Ferazani - Sidoti & Company Stephen Gengaro - Stifel Dave Storms - Stonegate Operator Greetings and welcome to the Civeo Corporation First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________________ to _________________________ Commission file number: 001-36246 Civeo Corporation (Exact name of registrant as specified in its chart ...