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Profile: Civeo Corp (CVEO.N)

CVEO.N on New York Stock Exchange

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Civeo Corporation, incorporated on December 23, 2014, is an integrated provider of workforce accommodations, logistics and facility management services to the natural resource industry. The Company's scalable modular facilities provide long-term and temporary accommodations. Once facilities are deployed in the field, it also provides catering and food services, housekeeping, laundry, facility management, water and wastewater treatment, power generation, communications and redeployment logistics. It operates in three principal business segments: Canada, Australia and U.S.

Canadian

The Company is a Canada's integrated provider of accommodations services for people working in remote locations. It provides its accommodation services through lodges, open camps and mobile assets. Its accommodations support workforces in the Canadian oil sands and in a range of oil and natural gas drilling, mining and related natural resource applications, as well as disaster relief efforts. Its McClelland Lake, Wapasu, Athabasca, Henday and Beaver River Lodges are focused on the northern region of the Athabasca oil sands, where customers utilize surface mining to extract the bitumen, or oil sands. Its Conklin and Anzac lodges, as well as a portion of its mobile fleet of assets are focused in the southern portion of the region, where it serves in situ operations and pipeline expansion activity. Its oil sands lodges support construction and operating personnel for maintenance and expansionary projects, as well as ongoing operations associated with surface mining and in situ oil sands projects under short and medium-term contracts. As of December 31, 2016, all of its oil sands lodge properties were located on land with leases obtained from the province of Alberta with initial terms of 10 years. It provides its lodge services on a day rate or monthly rental basis and its customers commit for short to medium-term contracts (from several months up to several years). As of December 31, 2016, in addition to lodges, it had six open camps in Alberta, British Columbia, Saskatchewan and Manitoba. Its Alberta open camps service the Athabasca and Peace River oil sands, as well as conventional and shale play oil and gas developments and infrastructure expansions. Geetla Lodge services the Horn River Basin in British Columbia. Its mobile camps consist of modular, skid-mounted accommodations and central facilities that can be configured to serve a multitude of short to medium term accommodation needs. In addition to asset rental, it provides catering and housekeeping, as well as camp management services, including fresh water and sewage hauling services. Its mobile camps service the oil and gas sector in Alberta and British Columbia and in situ oil sands drilling and development operations in Alberta, as well as pipeline construction crews throughout Western Canada.

Australian

As of December 31, 2016, the Company had 9,386 rooms across 10 villages, of which 7,392 rooms service the Bowen Basin region of Queensland, one of the premier metallurgical (met) coal basins in the world. It provides accommodation services on a day rate basis to mining and related service companies, including construction contractors. As of December 31, 2016, it had two villages with over 1,000 combined rooms in the Gunnedah Basin, a thermal and met coal, as well as coal seam gas region of New South Wales. In Western Australia, it serves workforces related to iron ore port expansions and liquefied natural gas (LNG) facilities operations on the Northwest Shelf through its Karratha villages. Its Coppabella, Dysart, Moranbah, Middlemount and Nebo villages are located in the Bowen Basin. As of December 31, 2016, its Coppabella had over 3,000 rooms, which supported both operational workforce needs and contractor needs with resort style amenities, including swimming pools, gyms, a walking track and a tavern.

U.S.

The Company's U.S. business has operational exposure to the Rocky Mountain corridor, the Bakken Shale region, the Permian Basin region of Texas and offshore locations in the Gulf of Mexico. The business provides open camp facilities and mobile smaller camps that follow drilling rigs and completion crews, as well as accommodations, office and storage modules that are placed on offshore drilling rigs and production platforms. As of December 31, 2016, its business in the United States consisted of mobile fleet assets, both in the lower 48 states, including the Rocky Mountain corridor, the Bakken Shale region, the Permian Basin region of Texas and in the Gulf of Mexico. It provides catering and housekeeping services as well. As of December 31, 2016, it had two open camps in the United States consisting of 545 rooms. Its Killdeer Lodge provides accommodations support to the Bakken Shale region in North Dakota. Its West Permian Lodge supports the Permian Basin in West Texas.

The Company competes with ATCO Structures & Logistics Ltd., Black Diamond Group Limited, Horizon North Logistics Inc., Clean Harbors, Inc., Algeco Scotsman Global S.a.r.l., Fleetwood Corporation, Aramark Corporation, Sodexo Inc., Compass Group PLC, Superior Energy Services and Stallion Oilfield Holdings, Inc.

Company Address

Civeo Corp

HOUSTON   TX   77002-4101

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