Civeo (CVEO) 10-Q 27 Jul 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 23, 2018
Document Information [Line Items]
Entity Registrant Name	Civeo Corp
Entity Central Index Key	1,590,584
Trading Symbol	cveo
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		167,958,214
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues:
Total Revenues	$ 130,177	$ 92,010	$ 231,681	$ 183,439
Costs and expenses:
Selling, general and administrative expenses	22,539	14,060	39,426	28,270
Depreciation and amortization expense	34,270	31,554	65,034	64,383
Impairment expense			28,661
Other operating expense	132	279	511	729
Total costs and expenses	145,678	105,377	299,697	214,538
Operating loss	(15,501)	(13,367)	(68,016)	(31,099)
Interest expense to third-parties	(7,103)	(4,752)	(12,925)	(10,256)
Loss on extinguishment of debt	(748)		(748)	(842)
Interest income	18	10	76	20
Other income	252	476	2,511	730
Loss before income taxes	(23,082)	(17,633)	(79,102)	(41,447)
Income tax benefit	23,371	2,916	24,056	5,864
Net income (loss)	289	(14,717)	(55,046)	(35,583)
Less: Net income attributable to noncontrolling interest	122	99	244	220
Net income (loss) attributable to Civeo Corporation	167	(14,816)	(55,290)	(35,803)
Less: Dividends attributable to Class A preferred shares	48,488		48,488
Net loss attributable to Civeo common shareholders	$ (48,321)	$ (14,816)	$ (103,778)	$ (35,803)
Per Share Data (see Note 10)
Basic net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.29)	$ (0.11)	$ (0.70)	$ (0.28)
Diluted net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.29)	$ (0.11)	$ (0.70)	$ (0.28)
Weighted average number of common shares outstanding:
Basic (in shares)	165,373	130,692	148,595	125,796
Diluted (in shares)	165,373	130,692	148,595	125,796
Service and Other [Member]
Revenues:
Total Revenues	$ 126,486	$ 89,013	$ 222,890	$ 178,874
Costs and expenses:
Cost of goods and service sold	86,294	56,844	159,249	116,376
Product [Member]
Revenues:
Total Revenues	3,691	2,997	8,791	4,565
Costs and expenses:
Cost of goods and service sold	$ 2,443	$ 2,640	$ 6,816	$ 4,780

Unaudited Consolidated Stateme3

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net loss	$ 289	$ (14,717)	$ (55,046)	$ (35,583)
Other comprehensive income (loss):
Foreign currency translation adjustment, net of taxes of zero	(16,434)	6,313	(24,255)	24,348
Total other comprehensive income (loss)	(16,434)	6,313	(24,255)	24,348
Comprehensive loss	(16,145)	(8,404)	(79,301)	(11,235)
Comprehensive income attributable to noncontrolling interest	(120)	(72)	(242)	(541)
Comprehensive loss attributable to Civeo Corporation	$ (16,265)	$ (8,476)	$ (79,543)	$ (11,776)

Unaudited Consolidated Stateme4

Unaudited Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Foreign currency translation adjustment, taxes	$ 0	$ 0	$ 0	$ 0

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 4,786	$ 32,647
Accounts receivable, net	75,789	66,823
Inventories	4,720	7,246
Prepaid expenses	15,998	14,481
Other current assets	16,383	1,553
Assets held for sale	12,519	9,462
Total current assets	130,195	132,212
Property, plant and equipment, net	734,242	693,833
Goodwill	117,307
Other intangible assets, net	133,964	22,753
Other noncurrent assets	2,240	5,114
Total assets	1,117,948	853,912
Current liabilities:
Accounts payable	29,797	27,812
Accrued liabilities	17,265	22,208
Income taxes	1,568	1,728
Current portion of long-term debt	27,643	16,596
Deferred revenue	3,123	5,442
Other current liabilities	4,520	1,843
Total current liabilities	83,916	75,629
Long-term debt, less current maturities	399,520	277,990
Deferred income taxes	29,003
Other noncurrent liabilities	30,044	23,926
Total liabilities	542,483	377,545
Commitments and contingencies (Note 14)
Shareholders’ Equity:
Preferred shares (Class A Series 1, no par value; 50,000,000 shares authorized, 9,679 shares and zero shares issued and outstanding, respectively; aggregate liquidation preference of $97,268,530 as of June 30, 2018)	55,305
Common shares (no par value; 550,000,000 shares authorized, 168,315,440 shares and 132,427,885 shares issued, respectively, and 167,958,214 shares and 132,262,434 shares outstanding, respectively)	0	0
Additional paid-in capital	1,555,994	1,383,934
Accumulated deficit	(682,497)	(579,113)
Common shares held in treasury at cost, 357,226 and 165,451 shares, respectively	(990)	(358)
Accumulated other comprehensive loss	(352,466)	(328,213)
Total Civeo Corporation shareholders’ equity	575,346	476,250
Noncontrolling interest	119	117
Total shareholders’ equity	575,465	476,367
Total liabilities and shareholders’ equity	$ 1,117,948	$ 853,912

Consolidated Balance Sheets (C6

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Jun. 30, 2018	Dec. 31, 2017
Preferred shares, par value (in dollars per share)	$ 0
Preferred shares, authorized (in shares)	50,000,000
Preferred shares, issued (in shares)	9,679
Preferred shares, outstanding (in shares)	0
Preferred shares, liquidation preference	$ 97,268,530
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	550,000,000	550,000,000
Common stock, shares issued (in shares)	168,315,440	132,427,885
Common stock, shares outstanding (in shares)	167,958,214	132,262,434
Treasury shares (in shares)	357,226	165,451

Unaudited Consolidated Stateme7

Unaudited Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Dec. 31, 2016			$ 1,311,226	$ (472,764)	$ (65)	$ (362,930)	$ 523	$ 475,990
Net income (loss)				(35,803)			220	(35,583)
Currency translation adjustment						24,027	321	24,348
Dividends paid							(962)	(962)
Equity offering			64,817					64,817
Share-based compensation			3,750		(293)			3,457
Balance at Jun. 30, 2017			1,380,429	(509,203)	(358)	(338,903)	102	532,067
Cumulative effect of implementation of ASU 2016-09			636	(636)
Balance at Dec. 31, 2017			1,383,934	(579,113)	(358)	(328,213)	117	476,367
Net income (loss)				(55,290)			244	(55,046)
Currency translation adjustment						(24,253)	(2)	(24,255)
Dividends paid							(240)	(240)
Share-based compensation			5,013		(632)			4,381
Issuance of shares for acquisitions	6,972		166,892					173,864
Dividends attributable to Class A preferred shares (Note 12)	48,333		155	(48,488)
Balance at Jun. 30, 2018	55,305		1,555,994	(682,497)	(990)	(352,466)	119	575,465
Cumulative effect of implementation of ASU 2016-09				$ 394				$ 394

Unaudited Consolidated Stateme8

Unaudited Consolidated Statements of Changes in Shareholders' Equity (Shares) - 6 months ended Jun. 30, 2018 - shares shares in Thousands	Preferred Stock [Member]	Common Stock [Member]
Balance (in shares) at Dec. 31, 2017		132,262
Stock-based compensation (in shares)		1,566
Issuance of shares for acquisitions (in shares)	9,679	34,130
Balance (in shares) at Jun. 30, 2018	9,679	167,958

Unaudited Consolidated Stateme9

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net loss	$ (55,046)	$ (35,583)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	65,034	64,383
Impairment expense	28,661
Loss on extinguishment of debt	748	842
Deferred income tax benefit	(23,661)	(6,732)
Non-cash compensation charge	5,013	3,750
Gains on disposals of assets	(2,332)	(854)
Provision for loss on receivables, net of recoveries	(58)	(57)
Other, net	3,065	2,147
Changes in operating assets and liabilities:
Accounts receivable	10,661	(1,639)
Inventories	3,111	(664)
Accounts payable and accrued liabilities	(16,668)	(4,499)
Taxes payable	(1,250)	639
Other current assets and liabilities, net	(3,301)	(7,332)
Net cash flows provided by operating activities	13,977	14,401
Cash flows from investing activities:
Capital expenditures	(5,943)	(6,037)
Payments related to acquisitions, net of cash acquired	(185,200)
Proceeds from disposition of property, plant and equipment	3,438	1,160
Other, net	110	375
Net cash flows used in investing activities	(187,595)	(4,502)
Cash flows from financing activities:
Proceeds from issuance of common shares, net		64,817
Revolving credit borrowings	232,123	44,525
Revolving credit repayments	(70,067)	(84,462)
Term loan repayments	(11,068)	(8,000)
Debt issuance costs	(2,742)	(1,795)
Other, net	(632)	(293)
Net cash flows provided by financing activities	147,614	14,792
Effect of exchange rate changes on cash	(1,857)	850
Net change in cash and cash equivalents	(27,861)	25,541
Cash and cash equivalents, beginning of period	32,647	1,785
Cash and cash equivalents, end of period	4,786	27,326
Non-cash financing activities:
Preferred dividends paid-in-kind	484
Common Stock [Member]
Non-cash investing activities:
Value of shares issued as consideration for acquisitions	119,297
Preferred Stock [Member]
Non-cash investing activities:
Value of shares issued as consideration for acquisitions	$ 54,821

Note 1 - Description of Busines

Note 1 - Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. DESC R IPTION OF BUSINESS AND BASIS OF PRESENTATION Description of the Business We are one not three Basis of Presentation Unless otherwise stated or the context otherwise indicates: (i) all references in these consolidated financial statements to “Civeo,” “us,” “our” or “we” refer to Civeo Corporation and its consolidated subsidiaries; and (ii) all references in this report to “dollars” or “$” are to U.S. dollars. The accompanying unaudited consolidated financial statements of Civeo have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC) pertaining to interim financial information. Certain information in footnote disclosures normally included in financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP) has been condensed or omitted pursuant to those rules and regulations. The unaudited financial statements included in this report reflect all the adjustments, consisting of normal recurring adjustments, which Civeo considers necessary for a fair presentation of the results of operations for the interim periods covered and for the financial condition of Civeo at the date of the interim balance sheet. Results for the interim periods are not The preparation of consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. If the underlying estimates and assumptions upon which the financial statements are based change in future periods, actual amounts may The financial statements included in this report should be read in conjunction with our audited financial statements and accompanying notes included in our Annual Report on Form 10 December 31, 2017.

Note 2 - Recent Accounting Pron

Note 2 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	2. RECENT ACCOUNTING PRONOUNCEMENT S From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the FASB), which are adopted by us as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards or other guidance updates, which are not not In January 2017, 2017 01, 805 2017 01 not December 15, 2017. 10 March 31, 2018, January 1, 2018. In June 2016, 2016 13, 2016 13 not 2016 13 December 15, 2019 In February 2016, 2016 02, 842 840 2016 02 12 December 15, 2018 In May 2014, 2014 09 606, 606 606 December 15, 2017. 10 March 31, 2018, January 1, 2018 not January 1, 2018. January 1, 2018 606, not 606. $0.4 June 30, 2018.

Note 3 - Revenue

Note 3 - Revenue	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. REVENUE We generally recognize accommodation, mobile facility rental and catering and other services revenues over time as our customers simultaneously receive and consume benefits as we serve our customers because of continuous transfer of control to the customer. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. We transfer control and recognize a sale based on a periodic (usually daily) room rate each night a customer stays in our rooms or when the services are rendered. In some contracts, rates may may For significant projects, manufacturing revenues are recognized over time with progress towards completion measured using the cost based input method as the basis to recognize revenue and an estimated profit. Billings on such contracts in excess of costs incurred and estimated profits are classified as deferred revenue. Costs incurred and estimated profits in excess of billings on these contracts are recognized as unbilled receivables. Management believes this input method is the most appropriate measure of progress to the satisfaction of a performance obligation on larger modular construction and manufacturing contracts. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, estimated profitability and final contract settlements may may The following table disaggregates our revenue by our three Three Months Ended Six Months Ended June 30 , June 30 , 2018 201 7 2018 201 7 Canada Accommodation revenues $ 80,620 $ 53,637 $ 131,267 $ 109,867 Mobile facility rental revenues 2,107 243 9,901 802 Catering and other services revenues 3,716 2,646 7,455 6,089 Manufacturing revenues 75 1,142 1,285 1,416 Total Canada revenues 86,518 57,668 149,908 118,174 Australia Accommodation revenues $ 29,966 $ 28,607 $ 57,664 $ 55,623 Catering and other services revenues 611 -- 788 -- Total Australia revenues 30,577 28,607 58,452 55,623 United States Accommodation revenues $ 5,177 $ 2,446 $ 8,343 $ 4,544 Mobile facility rental revenues 4,533 2,072 8,110 3,117 Manufacturing revenues 3,329 1,167 6,793 1,907 Catering and other services revenues 43 50 75 74 Total United States revenues 13,082 5,735 23,321 9,642 Total revenues $ 130,177 $ 92,010 $ 231,681 $ 183,439 Because of control transferring over time, the majority of our revenue is recognized based on the extent of progress towards completion of the performance obligation. At contract inception, we assess the goods and services promised in our contracts with customers and identify a performance obligation for each promise to transfer our customers a good or service (or bundle of goods or services) that is distinct. Our customers typically contract for accommodation services under take-or-pay contracts with terms that most often range from several months to three Our payment terms vary by the type and location of our customer and the products or services offered. The term between invoicing and when our performance obligations are satisfied is not 30 not Revenues exclude taxes assessed based on revenues such as sales or value added taxes. As of June 30, 2018, one For the years ending December 31, 2018 2019 2020 T hereafter Total Revenue expected to be recognized as of June 30, 2018 $ 71,680 $ 81,789 $ 45,101 $ 1,857 $ 200,427

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. FAIR VALUE MEASUREMENTS Our financial instruments consist of cash and cash equivalents, receivables, payables and debt instruments. We believe that the carrying values of these instruments on the accompanying consolidated balance sheets approximate their fair values. As of June 30, 2018 December 31, 2017, 2 During the first 2018, 3 6 During the first second 2018, 7

Note 5 - Details of Selected Ba

Note 5 - Details of Selected Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	5. DETAILS OF SELECTED BALANCE SHEET ACCOUNTS Additional information regarding selected balance sheet accounts at June 30, 2018 December 31, 2017 June 30, 2018 December 31, 201 7 Accounts receivable, net: Trade $ 54,190 $ 46,692 Unbilled revenue 22,741 20,555 Other 158 914 Total accounts receivable 77,089 68,161 Allowance for doubtful accounts (1,300 ) (1,338 ) Total accounts receivable, net $ 75,789 $ 66,823 June 30, 2018 December 31, 201 7 Inventories: Finished goods and purchased products $ 2,581 $ 2,211 Work in process 1,040 4,096 Raw materials 1,099 939 Total inventories $ 4,720 $ 7,246 Estimated Useful Life (in years) June 30, 2018 December 31, 201 7 Property, plant and equipment, net: Land $ 47,929 $ 40,567 Accommodations assets 3 - 15 1,719,298 1,658,867 Buildings and leasehold improvements 5 - 20 24,229 24,181 Machinery and equipment 4 - 15 10,243 8,848 Office furniture and equipment 3 - 7 53,889 53,688 Vehicles 3 - 5 14,390 13,869 Construction in progress 4,480 2,770 Total property, plant and equipment 1,874,458 1,802,790 Accumulated depreciation (1,140,216 ) (1,108,957 ) Total property, plant and equipment, net $ 734,242 $ 693,833 June 30, 2018 December 31, 201 7 Accrued liabilities: Accrued compensation $ 15,459 $ 20,424 Accrued taxes, other than income taxes 1,538 1,224 Accrued interest 38 15 Other 230 545 Total accrued liabilities $ 17,265 $ 22,208

Note 6 - Impairment Charges

Note 6 - Impairment Charges	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Asset Impairment Charges [Text Block]	6. IMPAIRMENT CHARGES Quarter ended March 31, 201 8. first 2018, may first 2018. two no not zero $28.7

Note 7 - Acquisitions

Note 7 - Acquisitions	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Business Combination Disclosure [Text Block]	7. ACQUISITIONS Noralta Description of Transaction April 2, 2018, C$207.7 US$161.1 C$43.5 32.8 13.5 2.4 9,679 1 $96.8 692 11 The Noralta Acquisition was accounted for in accordance with the acquisition method of accounting for business combinations and, accordingly, the results of operations of Noralta were reported in our financial statements as part of our Canadian reportable business segment beginning on April 2, 2018, three six June 30, 2018, $32.0 $13.1 Calculation of Purchase Consideration April 2, 2018. March 29, 2018 ( April 2, 2018) $3.77 61% $96.79 A portion of the consideration paid, $11.6 2.4 692 April 2, 2018, 12 $11.6 no The purchase consideration and estimated fair value of Noralta’s net assets acquired as of April 2, 2018 (In thousands, except per share data) Common shares issued 32,791 Common share price as of March 29, 2018 $ 3.77 Common share consideration $ 123,622 Cash consideration 161,162 Preferred Share consideration 59,042 Total purchase consideration $ 343,826 Less: Common shares held in escrow, expected to be released to Civeo (8,825 ) Less: Cash held in escrow, expected to be released to Civeo (15,763 ) Less: Preferred Shares held in escrow, expected to be released to Civeo (4,221 ) Total purchase consideration $ 315,017 At the time the Preferred Shares were issued, we determined that a beneficial conversion feature existed because the fair value of the securities into which the Preferred Shares were convertible was greater than the effective conversion price on the issuance date. Accordingly, we recorded a beneficial conversion feature of $47.8 12 Purchase Price Allocation. 805 April 2, 2018, 2018. not April 2, 2018 ( Cash and cash equivalents $ 24 Accounts receivable (1) 21,456 Inventories 839 Other current assets 4,550 Property, plant and equipment 132,888 Goodwill 119,858 Intangible assets 114,136 Total assets acquired 393,751 Accounts payable and accrued liabilities 15,305 Income taxes payable 1,226 Other current liabilities 2,079 Deferred income taxes 53,066 Other noncurrent liabilities 7,058 Total liabilities assumed 78,734 Net assets acquired $ 315,017 ( 1 The aggregate fair value of the acquired accounts receivable approximated the aggregate gross contractual amount. Goodwill has been recorded based on the amount by which the purchase price exceeded the fair value of the net assets acquired. The goodwill is primarily attributable to synergies expected to arise from the Noralta Acquisition. The goodwill is not not 3 The purchase price allocation to the identifiable intangible assets and liabilities is as follows (in thousands): Fair Value at April 2, 2018 Amortizable Intangible Assets Trade name $ 1,474 Contracts 110,258 Favorable lease contract 2,404 Total amortizable intangible assets $ 114,136 Amortizable Intangible Liabilities Unfavorable lease contracts $ 2,456 Total amortizable intangible liabilities $ 2,456 Net intangible assets $ 111,680 The contracts acquired consist of accommodations contracts with two 20 9 3.8 9.3 Supplemental Pro Forma Financial Information. January 1, 2017. not not THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, (Unaudited) (Unaudited) (Actual) (Pro forma) (Pro forma) (Pro forma) 2018 201 7 201 8 201 7 Revenues $ 130,177 $ 124,100 $ 266,264 $ 235,215 Net loss attributable to Civeo Corporation common shareholders (48,321 ) (6,330 ) (101,846 ) (27,208 ) Basic net loss per share attributable to Civeo Corporation common shareholders $ (0.29 ) $ (0.04 ) $ (0.69 ) $ (0.17 ) Diluted net loss per share attributable to Civeo Corporation common shareholders $ (0.29 ) $ (0.04 ) $ (0.69 ) $ (0.17 ) Included in the pro forma results above are certain adjustments due to the following: (i) increases in depreciation and amortization expense due to acquired intangibles and the increased recorded value of property, plant and equipment, and (ii) increases in interest expense due to additional credit facility borrowings to fund the Noralta Acquisition, and (iii) decreases due to the exclusion of transaction costs. Transaction Costs. three June 30, 2018, $5.6 $0.2 $5.4 six June 30, 2018, $6.6 $0.2 $6.4 Acadian Acres On February 28, 2018, $28.0 $23.5 $4.5 December 2020 1.2 400 40 Intangible assets acquired in the Acadian Acres acquisition totaled $8.2 16 This acquisition was accounted for as an asset acquisition based on the principles described in ASC 805, not not

Note 8 - Assets Held for Sale

Note 8 - Assets Held for Sale	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	8. ASSETS HELD FOR SALE During the fourth 2017, $0.1 $0.3 three six June 30, 2017, Certain undeveloped land positions in the British Columbia LNG market in our Canadian segment previously met the criteria of held for sale. These assets were recorded at the estimated fair value less costs to sell of approximately $4.2 In addition, as a result of the Noralta Acquisition, Noralta’s corporate offices located in Nisku, Alberta, Canada were closed and are being held for sale. The related assets are recorded at the estimated fair value less costs to sell of approximately $3.2 The following table summarizes the carrying amount as of June 30, 2018 December 31, 2017 June 30, December 31, 201 8 201 7 Assets held for sale: Property, plant and equipment, net $ 12,519 $ 9,418 Inventories -- 44 Total assets held for sale $ 12,519 $ 9,462

Note 9 - Goodwill and Other Int

Note 9 - Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	9. GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the carrying amount of goodwill from December 31, 2017 June 30, 2018 Canadian Australian U.S. Total Balance as of December 31, 2017 $ -- $ -- $ -- $ -- Noralta Acquisition (1) 119,858 -- -- 119,858 Foreign currency translation (2,551 ) -- -- (2,551 ) Balance as of June 30, 2018 $ 117,307 $ -- $ -- $ 117,307 ( 1 Please see Note 7 The following table presents the total amount of other intangible assets and the related accumulated amortization for major intangible asset classes as of June 30, 2018 December 31, 2017 ( June 30, 2018 December 31, 2017 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable Intangible Assets Customer relationships $ 43,331 $ (34,327 ) $ 45,209 $ (33,997 ) Trade name 1,443 (472 ) -- -- Contracts / agreements 152,373 (30,704 ) 38,362 (26,853 ) Favorable lease contract 2,353 (63 ) -- -- Noncompete agreements 675 (675 ) 675 (675 ) Total amortizable intangible assets $ 200,175 $ (66,241 ) $ 84,246 $ (61,525 ) Indefinite-Lived Intangible Assets Not Subject to Amortization Licenses 30 -- 32 -- Total indefinite-lived intangible assets 30 -- 32 -- Total intangible assets $ 200,205 $ (66,241 ) $ 84,278 $ (61,525 ) The weighted average remaining amortization period for all intangible assets, other than indefinite-lived intangibles, was 16.3 June 30, 2018 3.1 December 31, 2017. 7 As of June 30, 2018, Year Ending December 31, 2018 (remainder of the year) $ 10,422 2019 15,736 2020 12,728 2021 5,810 2022 5,797 Thereafter 83,441 Total $ 133,934

Note 10 - Earnings Per Share

Note 10 - Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	10. EARNINGS PER SHARE The calculation of earnings per share attributable to Civeo is presented below for the periods indicated (in thousands, except per share amounts): Three Months Ended Six Months Ended J une 30, J une 30, 201 8 201 7 201 8 201 7 Basic Loss per Share Net loss attributable to Civeo common shareholders $ (48,321 ) $ (14,816 ) $ (103,778 ) $ (35,803 ) Less: undistributed net income to participating securities -- -- -- -- Net loss attributable to Civeo common shareholders - basic $ (48,321 ) $ (14,816 ) $ (103,778 ) $ (35,803 ) Weighted average common shares outstanding - basic 165,373 130,692 148,595 125,796 Basic loss per share $ (0.29 ) $ (0.11 ) $ (0.70 ) $ (0.28 ) Diluted Loss per Share Net loss attributable to Civeo common shareholders - basic $ (48,321 ) $ (14,816 ) $ (103,778 ) $ (35,803 ) Less: undistributed net income to participating securities -- -- -- -- Net loss attributable to Civeo common shareholders - diluted $ (48,321 ) $ (14,816 ) $ (103,778 ) $ (35,803 ) Weighted average common shares outstanding - basic 165,373 130,692 148,595 125,796 Effect of dilutive securities (1 ) -- -- -- -- Weighted average common shares outstanding - diluted 165,373 130,692 148,595 125,796 Diluted loss per share $ (0.29 ) $ (0.11 ) $ (0.70 ) $ (0.28 ) ( 1 When an entity has a net loss from continuing operations, it is prohibited from including potential common shares in the computation of diluted per share amounts. Accordingly, we have utilized the basic shares outstanding amount to calculate both basic and diluted loss per share for the three six June 30, 2018 2017. three June 30, 2018 2017, 4.1 2.3 six June 30, 2018 2017, 3.5 2.1 three six June 30, 2018, 29.3

Note 11 - Debt

Note 11 - Debt	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	11. DEBT As of June 30, 2018 December 31, 2017, June 30, 2018 December 31, 2017 Canadian term loan, which matures on November 30, 2020; 2.50% of aggregate principal repayable per quarter; weighted average interest rate of 5.5% for the six-month period ended June 30, 2018 $ 272,564 $ 297,623 U.S. revolving credit facility, which matures on November 30, 2020, weighted average interest rate of 7.2% for the six-month period ended June 30, 2018 -- -- Canadian revolving credit facility, which matures on November 30, 2020, weighted average interest rate of 6.1% for the six-month period ended June 30, 2018 132,516 -- Australian revolving credit facility, which matures on November 30, 2020, weighted average interest rate of 5.5% for the six-month period ended June 30, 2018 25,129 -- 430,209 297,623 Less: Unamortized debt issuance costs 3,046 3,037 Total debt 427,163 294,586 Less: Current portion of long-term debt, including unamortized debt issuance costs, net 27,643 16,596 Long-term debt, less current maturities $ 399,520 $ 277,990 We did not three June 30, 2018 2017. Amended Credit Agreement As of December 31, 2017, $275.0 May 28, 2019, $40.0 $90.0 $60.0 $85.0 one $350.0 May 28, 2019 On April 2, 2018, ● provided for the reduction by $35.5 $239.5 1 $20.0 2 $159.5 two one 3 $60.0 one ● extended the maturity date by 18 May 30, 2019 November 30, 2020; ● adjusted the maximum leverage ratio financial covenant, as follows: Period Ended Maximum Leverage Ratio June 30, 2018 4.50 : 1.00 September 30, 2018 4.25 : 1.00 December 31, 2018 3.75 : 1.00 March 31, 2019 & thereafter 3.50 : 1.00 ; and ● provided for other technical changes and amendments to the Credit Agreement. As a result of the Amended Credit Agreement, we recognized a loss during the second 2018 $0.7 U.S. dollar amounts outstanding under the facilities provided by the Amended Credit Agreement bear interest at a variable rate equal to LIBOR plus a margin of 2.25% 4.00%, 1.25% 3.00%, 2.25% 4.00%, 1.25% 3.00%, 2.25% 4.00%, The Amended Credit Agreement contains customary affirmative and negative covenants that, among other things, limit or restrict: (i) subsidiary indebtedness, liens and fundamental changes; (ii) asset sales; (iii) acquisitions of margin stock; (iv) specified acquisitions; (v) certain restrictive agreements; (vi) transactions with affiliates; and (vii) investments and other restricted payments, including dividends and other distributions. In addition, we must maintain an interest coverage ratio, defined as the ratio of consolidated EBITDA to consolidated interest expense, of at least 3.0 1.0 no 4.50 1.0 June 30, 2018). June 30, 2018. Borrowings under the Amended Credit Agreement are secured by a pledge of substantially all of our assets and the assets of our subsidiaries. The obligations under the Amended Credit Agreement are guaranteed by our significant subsidiaries. As of June 30, 2018, 9 $24.9 $110.6

Note 12 - Preferred Shares

Note 12 - Preferred Shares	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Preferred Stock [Text Block]	12. PREFERRED SHARES As further discussed in Note 7 April 2, 2018, 9,679 $10,000 2% 3% The Preferred Shares are convertible into our common shares at a conversion price of US$3.30 15 two five may, The Preferred Shares do not During the three six June 30, 2018, Three and Six Months Ended J une 30, 2018 Deemed dividend on beneficial conversion feature at April 2, 2018 $ 47,849 In-kind dividend on June 30, 2018 484 Deemed dividend on beneficial conversion feature related to in-kind dividend 155 Total preferred dividends $ 48,488 As noted in Note 7 $47.8 $166.9 $7.0 As the Preferred Shares do not 15 $3.30 April 2, 2018, April 2, 2018. April 2, 2018 $47.8 The Board of Directors elected to pay the dividend due on June 30, 2018, $49.44 $0.5 three six June 30, 2018. In addition, at the time the dividend was deemed to be paid-in-kind, the fair value of the securities into which the Preferred Shares were convertible was greater than the effective conversion price on the deemed payment date. Accordingly, we recorded a beneficial conversion feature of $0.2 not 15 $3.30 June 30, 2018, June 30, 2018. June 30, 2018 $0.2

Note 13 - Income Taxes

Note 13 - Income Taxes	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	13. INCOME TAXES Our operations are conducted through various subsidiaries in a number of countries throughout the world. We have provided for income taxes based upon the tax laws and rates in the countries in which operations are conducted and income is earned. We operate primarily in three 21% 30%. We compute our quarterly taxes under the effective tax rate method by applying an anticipated annual effective rate to our year-to-date income, except for significant unusual or extraordinary transactions. As of June 30, 2018, As part of the acquisition of Noralta as described in Note 7 $53 June 30, 2018, no $4.9 Our income tax benefit for the six June 30, 2018 $24.1 30.4% $5.9 14.1% six June 30, 2017. six June 30, 2018 2017 5% 13%, Our income tax benefit for the three June 30, 2018 $23.4 101.3% $2.9 16.5% three June 30, 2017. three June 30, 2018 2018 no 740 270,

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	14. COMMITMENTS AND CONTINGENCIES We are a party to various pending or threatened claims, lawsuits and administrative proceedings seeking damages or other remedies concerning our commercial operations, products, employees and other matters, including warranty and product liability claims as a result of our products or operations. Although we can give no may not not

Note 15 - Accumulated Other Com

Note 15 - Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	15. ACCUMULATED OTHER COMPREHENSIVE LOSS Our accumulated other comprehensive loss increased $24.3 $328.2 December 31, 2017 $352.5 June 30, 2018, first 2018 C$0.3 A$0.4 June 30, 2018.

Note 16 - Share Based Compensat

Note 16 - Share Based Compensation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	16. S HARE BASED COMPENSATION Our employees and non-employee directors participate in the Amended and Restated 2014 No 18.7 may Outstanding Awards Options. three June 30, 2018 2017 zero $0.1 six June 30, 2018 2017 $0.1 June 30, 2018, Restricted S hare / Deferred S hare Awards. February 20, 2018, 2,018,990 three February 20, 2019. May 10, 2018, 265,153 May 10, 2019. Compensation expense associated with restricted share awards and deferred share awards recognized in the three June 30, 2018 2017 $1.6 $1.0 six June 30, 2018 2017 $2.9 $2.3 three June 30, 2018 2017 $1.0 $1.1 six June 30, 2018 2017 $3.4 $2.4 At June 30, 2018, $11.4 2.1 Phantom Share Awards . three June 30, 2018 2017, $2.6 $1.1 six June 30, 2018 2017, $6.0 $4.1 June 30, 2018, $6.8 June 30, 2018, 0.9 Performance Awards . February 20, 2018, 848,830 three February 20, 2021. 0% 200% 17 During the three June 30, 2018 2017, $1.2 $0.8 six June 30, 2018 2017, $2.2 $1.5 June 30, 2018, $7.4 2.0

Note 17 - Segment and Related I

Note 17 - Segment and Related Information	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	17. SEGMENT AND RELATED INFORMATION In accordance with current accounting standards regarding disclosures about segments of an enterprise and related information, we have identified the following reportable segments: Canada, Australia and U.S., which represent our strategic focus on workforce accommodations. Financial information by business segment for each of the three six June 30, 2018 2017 Total Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three months ended June 30, 201 8 Canada $ 86,518 $ 19,245 $ (6,718 ) $ 1,409 $ 860,149 Australia 30,577 10,649 (1,099 ) 475 314,446 United States 13,082 2,861 (1,832 ) 1,029 61,243 Corporate and eliminations -- 1,515 (5,852 ) 334 (117,890 ) Total $ 130,177 $ 34,270 $ (15,501 ) $ 3,247 $ 1,117,948 Three months ended June 30, 201 7 Canada $ 57,668 $ 17,559 $ (9,586 ) $ 465 $ 552,076 Australia 28,607 11,231 (3,416 ) 600 383,715 United States 5,735 1,194 (3,604 ) 212 30,978 Corporate and eliminations -- 1,570 3,239 877 (50,181 ) Total $ 92,010 $ 31,554 $ (13,367 ) $ 2,154 $ 916,588 Six months ended June 30, 201 8 Canada $ 149,908 $ 35,756 $ (46,648 ) $ 2,481 $ 860,149 Australia 58,452 21,766 (4,265 ) 1,069 314,446 United States 23,321 4,467 (5,096 ) 1,898 61,243 Corporate and eliminations -- 3,045 (12,007 ) 495 (117,890 ) Total $ 231,681 $ 65,034 $ (68,016 ) $ 5,943 $ 1,117,948 Six months ended June 30, 201 7 Canada $ 118,174 $ 35,972 $ (14,592 ) $ 1,516 $ 552,076 Australia 55,623 23,053 (4,617 ) 1,455 383,715 United States 9,642 2,384 (6,406 ) 636 30,978 Corporate and eliminations -- 2,974 (5,484 ) 2,430 (50,181 ) Total $ 183,439 $ 64,383 $ (31,099 ) $ 6,037 $ 916,588

Note 3 - Revenue (Tables)

Note 3 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Six Months Ended June 30 , June 30 , 2018 201 7 2018 201 7 Canada Accommodation revenues $ 80,620 $ 53,637 $ 131,267 $ 109,867 Mobile facility rental revenues 2,107 243 9,901 802 Catering and other services revenues 3,716 2,646 7,455 6,089 Manufacturing revenues 75 1,142 1,285 1,416 Total Canada revenues 86,518 57,668 149,908 118,174 Australia Accommodation revenues $ 29,966 $ 28,607 $ 57,664 $ 55,623 Catering and other services revenues 611 -- 788 -- Total Australia revenues 30,577 28,607 58,452 55,623 United States Accommodation revenues $ 5,177 $ 2,446 $ 8,343 $ 4,544 Mobile facility rental revenues 4,533 2,072 8,110 3,117 Manufacturing revenues 3,329 1,167 6,793 1,907 Catering and other services revenues 43 50 75 74 Total United States revenues 13,082 5,735 23,321 9,642 Total revenues $ 130,177 $ 92,010 $ 231,681 $ 183,439
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	For the years ending December 31, 2018 2019 2020 T hereafter Total Revenue expected to be recognized as of June 30, 2018 $ 71,680 $ 81,789 $ 45,101 $ 1,857 $ 200,427

Note 5 - Details of Selected 28

Note 5 - Details of Selected Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, 2018 December 31, 201 7 Accounts receivable, net: Trade $ 54,190 $ 46,692 Unbilled revenue 22,741 20,555 Other 158 914 Total accounts receivable 77,089 68,161 Allowance for doubtful accounts (1,300 ) (1,338 ) Total accounts receivable, net $ 75,789 $ 66,823
Schedule of Inventory, Current [Table Text Block]	June 30, 2018 December 31, 201 7 Inventories: Finished goods and purchased products $ 2,581 $ 2,211 Work in process 1,040 4,096 Raw materials 1,099 939 Total inventories $ 4,720 $ 7,246
Property, Plant and Equipment [Table Text Block]	Estimated Useful Life (in years) June 30, 2018 December 31, 201 7 Property, plant and equipment, net: Land $ 47,929 $ 40,567 Accommodations assets 3 - 15 1,719,298 1,658,867 Buildings and leasehold improvements 5 - 20 24,229 24,181 Machinery and equipment 4 - 15 10,243 8,848 Office furniture and equipment 3 - 7 53,889 53,688 Vehicles 3 - 5 14,390 13,869 Construction in progress 4,480 2,770 Total property, plant and equipment 1,874,458 1,802,790 Accumulated depreciation (1,140,216 ) (1,108,957 ) Total property, plant and equipment, net $ 734,242 $ 693,833
Schedule of Accrued Liabilities [Table Text Block]	June 30, 2018 December 31, 201 7 Accrued liabilities: Accrued compensation $ 15,459 $ 20,424 Accrued taxes, other than income taxes 1,538 1,224 Accrued interest 38 15 Other 230 545 Total accrued liabilities $ 17,265 $ 22,208

Note 7 - Acquisitions (Tables)

Note 7 - Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	(In thousands, except per share data) Common shares issued 32,791 Common share price as of March 29, 2018 $ 3.77 Common share consideration $ 123,622 Cash consideration 161,162 Preferred Share consideration 59,042 Total purchase consideration $ 343,826 Less: Common shares held in escrow, expected to be released to Civeo (8,825 ) Less: Cash held in escrow, expected to be released to Civeo (15,763 ) Less: Preferred Shares held in escrow, expected to be released to Civeo (4,221 ) Total purchase consideration $ 315,017
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Cash and cash equivalents $ 24 Accounts receivable (1) 21,456 Inventories 839 Other current assets 4,550 Property, plant and equipment 132,888 Goodwill 119,858 Intangible assets 114,136 Total assets acquired 393,751 Accounts payable and accrued liabilities 15,305 Income taxes payable 1,226 Other current liabilities 2,079 Deferred income taxes 53,066 Other noncurrent liabilities 7,058 Total liabilities assumed 78,734 Net assets acquired $ 315,017
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Fair Value at April 2, 2018 Amortizable Intangible Assets Trade name $ 1,474 Contracts 110,258 Favorable lease contract 2,404 Total amortizable intangible assets $ 114,136 Amortizable Intangible Liabilities Unfavorable lease contracts $ 2,456 Total amortizable intangible liabilities $ 2,456 Net intangible assets $ 111,680
Business Acquisition, Pro Forma Information [Table Text Block]	THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, (Unaudited) (Unaudited) (Actual) (Pro forma) (Pro forma) (Pro forma) 2018 201 7 201 8 201 7 Revenues $ 130,177 $ 124,100 $ 266,264 $ 235,215 Net loss attributable to Civeo Corporation common shareholders (48,321 ) (6,330 ) (101,846 ) (27,208 ) Basic net loss per share attributable to Civeo Corporation common shareholders $ (0.29 ) $ (0.04 ) $ (0.69 ) $ (0.17 ) Diluted net loss per share attributable to Civeo Corporation common shareholders $ (0.29 ) $ (0.04 ) $ (0.69 ) $ (0.17 )

Note 8 - Assets Held for Sale (

Note 8 - Assets Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	June 30, December 31, 201 8 201 7 Assets held for sale: Property, plant and equipment, net $ 12,519 $ 9,418 Inventories -- 44 Total assets held for sale $ 12,519 $ 9,462

Note 9 - Goodwill and Other I31

Note 9 - Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Goodwill [Table Text Block]	Canadian Australian U.S. Total Balance as of December 31, 2017 $ -- $ -- $ -- $ -- Noralta Acquisition (1) 119,858 -- -- 119,858 Foreign currency translation (2,551 ) -- -- (2,551 ) Balance as of June 30, 2018 $ 117,307 $ -- $ -- $ 117,307
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	June 30, 2018 December 31, 2017 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable Intangible Assets Customer relationships $ 43,331 $ (34,327 ) $ 45,209 $ (33,997 ) Trade name 1,443 (472 ) -- -- Contracts / agreements 152,373 (30,704 ) 38,362 (26,853 ) Favorable lease contract 2,353 (63 ) -- -- Noncompete agreements 675 (675 ) 675 (675 ) Total amortizable intangible assets $ 200,175 $ (66,241 ) $ 84,246 $ (61,525 ) Indefinite-Lived Intangible Assets Not Subject to Amortization Licenses 30 -- 32 -- Total indefinite-lived intangible assets 30 -- 32 -- Total intangible assets $ 200,205 $ (66,241 ) $ 84,278 $ (61,525 )
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year Ending December 31, 2018 (remainder of the year) $ 10,422 2019 15,736 2020 12,728 2021 5,810 2022 5,797 Thereafter 83,441 Total $ 133,934

Note 10 - Earnings Per Share (T

Note 10 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended J une 30, J une 30, 201 8 201 7 201 8 201 7 Basic Loss per Share Net loss attributable to Civeo common shareholders $ (48,321 ) $ (14,816 ) $ (103,778 ) $ (35,803 ) Less: undistributed net income to participating securities -- -- -- -- Net loss attributable to Civeo common shareholders - basic $ (48,321 ) $ (14,816 ) $ (103,778 ) $ (35,803 ) Weighted average common shares outstanding - basic 165,373 130,692 148,595 125,796 Basic loss per share $ (0.29 ) $ (0.11 ) $ (0.70 ) $ (0.28 ) Diluted Loss per Share Net loss attributable to Civeo common shareholders - basic $ (48,321 ) $ (14,816 ) $ (103,778 ) $ (35,803 ) Less: undistributed net income to participating securities -- -- -- -- Net loss attributable to Civeo common shareholders - diluted $ (48,321 ) $ (14,816 ) $ (103,778 ) $ (35,803 ) Weighted average common shares outstanding - basic 165,373 130,692 148,595 125,796 Effect of dilutive securities (1 ) -- -- -- -- Weighted average common shares outstanding - diluted 165,373 130,692 148,595 125,796 Diluted loss per share $ (0.29 ) $ (0.11 ) $ (0.70 ) $ (0.28 )

Note 11 - Debt (Tables)

Note 11 - Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	June 30, 2018 December 31, 2017 Canadian term loan, which matures on November 30, 2020; 2.50% of aggregate principal repayable per quarter; weighted average interest rate of 5.5% for the six-month period ended June 30, 2018 $ 272,564 $ 297,623 U.S. revolving credit facility, which matures on November 30, 2020, weighted average interest rate of 7.2% for the six-month period ended June 30, 2018 -- -- Canadian revolving credit facility, which matures on November 30, 2020, weighted average interest rate of 6.1% for the six-month period ended June 30, 2018 132,516 -- Australian revolving credit facility, which matures on November 30, 2020, weighted average interest rate of 5.5% for the six-month period ended June 30, 2018 25,129 -- 430,209 297,623 Less: Unamortized debt issuance costs 3,046 3,037 Total debt 427,163 294,586 Less: Current portion of long-term debt, including unamortized debt issuance costs, net 27,643 16,596 Long-term debt, less current maturities $ 399,520 $ 277,990
Schedule Of Changes In Maximum Leverage Ratio [Table Text Block]	Period Ended Maximum Leverage Ratio June 30, 2018 4.50 : 1.00 September 30, 2018 4.25 : 1.00 December 31, 2018 3.75 : 1.00 March 31, 2019 & thereafter 3.50 : 1.00

Note 12 - Preferred Shares (Tab

Note 12 - Preferred Shares (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Dividends Declared [Table Text Block]	Three and Six Months Ended J une 30, 2018 Deemed dividend on beneficial conversion feature at April 2, 2018 $ 47,849 In-kind dividend on June 30, 2018 484 Deemed dividend on beneficial conversion feature related to in-kind dividend 155 Total preferred dividends $ 48,488

Note 17 - Segment and Related35

Note 17 - Segment and Related Information (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Total Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three months ended June 30, 201 8 Canada $ 86,518 $ 19,245 $ (6,718 ) $ 1,409 $ 860,149 Australia 30,577 10,649 (1,099 ) 475 314,446 United States 13,082 2,861 (1,832 ) 1,029 61,243 Corporate and eliminations -- 1,515 (5,852 ) 334 (117,890 ) Total $ 130,177 $ 34,270 $ (15,501 ) $ 3,247 $ 1,117,948 Three months ended June 30, 201 7 Canada $ 57,668 $ 17,559 $ (9,586 ) $ 465 $ 552,076 Australia 28,607 11,231 (3,416 ) 600 383,715 United States 5,735 1,194 (3,604 ) 212 30,978 Corporate and eliminations -- 1,570 3,239 877 (50,181 ) Total $ 92,010 $ 31,554 $ (13,367 ) $ 2,154 $ 916,588 Six months ended June 30, 201 8 Canada $ 149,908 $ 35,756 $ (46,648 ) $ 2,481 $ 860,149 Australia 58,452 21,766 (4,265 ) 1,069 314,446 United States 23,321 4,467 (5,096 ) 1,898 61,243 Corporate and eliminations -- 3,045 (12,007 ) 495 (117,890 ) Total $ 231,681 $ 65,034 $ (68,016 ) $ 5,943 $ 1,117,948 Six months ended June 30, 201 7 Canada $ 118,174 $ 35,972 $ (14,592 ) $ 1,516 $ 552,076 Australia 55,623 23,053 (4,617 ) 1,455 383,715 United States 9,642 2,384 (6,406 ) 636 30,978 Corporate and eliminations -- 2,974 (5,484 ) 2,430 (50,181 ) Total $ 183,439 $ 64,383 $ (31,099 ) $ 6,037 $ 916,588

Note 1 - Description of Busin36

Note 1 - Description of Business and Basis of Presentation (Details Textual)	6 Months Ended
	Jun. 30, 2018
Number of Reportable Segments	3

Note 2 - Recent Accounting Pr37

Note 2 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 394
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 394	$ (636)

Note 3 - Revenue (Details Textu

Note 3 - Revenue (Details Textual)	6 Months Ended
	Jun. 30, 2018
Number of Reportable Segments	3

Note 3 - Revenue - Disaggregati

Note 3 - Revenue - Disaggregation of Revenue by Major Categories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues	$ 130,177	$ 92,010	$ 231,681	$ 183,439
Canadian Segment [Member]
Revenues	86,518	57,668	149,908	118,174
Canadian Segment [Member] | Accommodation [Member]
Revenues	80,620	53,637	131,267	109,867
Canadian Segment [Member] | Mobile Facility Rental [Member]
Revenues	2,107	243	9,901	802
Canadian Segment [Member] | Catering and Other Services [Member]
Revenues	3,716	2,646	7,455	6,089
Canadian Segment [Member] | Manufacturing [Member]
Revenues	75	1,142	1,285	1,416
Australian Segment [Member]
Revenues	30,577	28,607	58,452	55,623
Australian Segment [Member] | Accommodation [Member]
Revenues	29,966	28,607	57,664	55,623
Australian Segment [Member] | Catering and Other Services [Member]
Revenues	611		788
U.S. Segment [Member]
Revenues	13,082	5,735	23,321	9,642
U.S. Segment [Member] | Accommodation [Member]
Revenues	5,177	2,446	8,343	4,544
U.S. Segment [Member] | Mobile Facility Rental [Member]
Revenues	4,533	2,072	8,110	3,117
U.S. Segment [Member] | Catering and Other Services [Member]
Revenues	43	50	75	74
U.S. Segment [Member] | Manufacturing [Member]
Revenues	$ 3,329	$ 1,167	$ 6,793	$ 1,907

Note 3 - Revenue - Revenue Rela

Note 3 - Revenue - Revenue Related to Performance Obligations (Details) $ in Thousands	Jun. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue expected to be recognized	$ 71,680
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue expected to be recognized	81,789
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue expected to be recognized	45,101
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue expected to be recognized	1,857
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue expected to be recognized	$ 200,427

Note 5 - Details of Selected 41

Note 5 - Details of Selected Balance Sheet Accounts - Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Accounts receivable, net:
Accounts receivable	$ 77,089	$ 68,161
Allowance for doubtful accounts	(1,300)	(1,338)
Total accounts receivable, net	75,789	66,823
Trade Accounts Receivable [Member]
Accounts receivable, net:
Accounts receivable	54,190	46,692
Unbilled Revenue [Member]
Accounts receivable, net:
Accounts receivable	22,741	20,555
Other Receivable [Member]
Accounts receivable, net:
Accounts receivable	$ 158	$ 914

Note 5 - Details of Selected 42

Note 5 - Details of Selected Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventories:
Finished goods and purchased products	$ 2,581	$ 2,211
Work in process	1,040	4,096
Raw materials	1,099	939
Total inventories	$ 4,720	$ 7,246

Note 5 - Details of Selected 43

Note 5 - Details of Selected Balance Sheet Accounts - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Property, plant and equipment, gross	$ 1,874,458	$ 1,802,790
Accumulated depreciation	(1,140,216)	(1,108,957)
Total property, plant and equipment, net	734,242	693,833
Land [Member]
Property, plant and equipment, gross	47,929	40,567
Accommodations Assets [Member]
Property, plant and equipment, gross	$ 1,719,298	1,658,867
Accommodations Assets [Member] | Minimum [Member]
Property, plant and equipment, useful life (Year)	3 years
Accommodations Assets [Member] | Maximum [Member]
Property, plant and equipment, useful life (Year)	15 years
Building and Building Improvements [Member]
Property, plant and equipment, gross	$ 24,229	24,181
Building and Building Improvements [Member] | Minimum [Member]
Property, plant and equipment, useful life (Year)	5 years
Building and Building Improvements [Member] | Maximum [Member]
Property, plant and equipment, useful life (Year)	20 years
Machinery and Equipment [Member]
Property, plant and equipment, gross	$ 10,243	8,848
Machinery and Equipment [Member] | Minimum [Member]
Property, plant and equipment, useful life (Year)	4 years
Machinery and Equipment [Member] | Maximum [Member]
Property, plant and equipment, useful life (Year)	15 years
Furniture and Fixtures [Member]
Property, plant and equipment, gross	$ 53,889	53,688
Furniture and Fixtures [Member] | Minimum [Member]
Property, plant and equipment, useful life (Year)	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, plant and equipment, useful life (Year)	7 years
Vehicles [Member]
Property, plant and equipment, gross	$ 14,390	13,869
Vehicles [Member] | Minimum [Member]
Property, plant and equipment, useful life (Year)	3 years
Vehicles [Member] | Maximum [Member]
Property, plant and equipment, useful life (Year)	5 years
Construction in Progress [Member]
Property, plant and equipment, gross	$ 4,480	$ 2,770

Note 5 - Details of Selected 44

Note 5 - Details of Selected Balance Sheet Accounts - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Accrued liabilities:
Accrued compensation	$ 15,459	$ 20,424
Accrued taxes, other than income taxes	1,538	1,224
Accrued interest	38	15
Other	230	545
Total accrued liabilities	$ 17,265	$ 22,208

Note 6 - Impairment Charges (De

Note 6 - Impairment Charges (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment, Net, Ending Balance	$ 734,242	$ 693,833
Two Lodges in Southern Alberta [Member] | Canadian Segment [Member]
Property, Plant and Equipment, Net, Ending Balance	0
Impairment of Long-Lived Assets Held-for-use	$ 28,700

Note 7 - Acquisitions (Details

Note 7 - Acquisitions (Details Textual) $ / shares in Units, $ in Millions	Apr. 02, 2018USD ($)shares	Apr. 02, 2018CAD ($)shares	Feb. 28, 2018USD ($)ashares	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2017	Mar. 29, 2018$ / shares
Payments to Acquire Businesses, Gross, Held in Escrow	$ (15,763,000)
Share Price | $ / shares							$ 3.77
Business Combination, Acquisition Related Costs				$ 5,600,000	$ 6,600,000
Finite-Lived Intangible Assets, Remaining Amortization Period					16 years 109 days	3 years 36 days
Service and Other Costs [Member]
Business Combination, Acquisition Related Costs				200,000	$ 200,000
Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs				5,400,000	6,400,000
Noralta [Member]
Payments to Acquire Businesses, Gross	$ 161,162,000	$ 207.7
Payments to Acquire Businesses, Gross, Held in Escrow		$ 43.5
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	32,791,000	32,791,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Held in Escrow, Contingent on Remaining Customer Contracts | shares	13,500,000	13,500,000
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				32,000,000	32,000,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				$ 13,100,000	$ 13,100,000
Payments to Acquire Businesses, Gross, Held in Escrow, Contingent on Employee Compensation Costs	$ 11,600,000
Business Combination, Consideration Transferred, Total	315,017,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total	$ 114,136,000
Noralta [Member] | Contract-Based Intangible Assets [Member]
Finite-Lived Intangible Asset, Useful Life	20 years	20 years
Noralta [Member] | Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life	270 days	270 days
Noralta [Member] | Unfavorable Lease Contracts [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	3 years 292 days	3 years 292 days
Noralta [Member] | Unfavorable Lease Contracts [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	9 years 109 days	9 years 109 days
Noralta [Member] | Common Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Held in Escrow, Contingent on Employee Compensation Cost | shares	2,400,000	2,400,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 123,622,000
Noralta [Member] | Preferred Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Held in Escrow, Contingent on Employee Compensation Cost | shares	692	692
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 59,042,000
Noralta [Member] | Preferred Stock [Member] | Series A Preferred Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	9,679	9,679
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Held in Escrow, Contingent on Employee Compensation Cost | shares	692	692
Business Acquisition, Equity Interest Issued or Issuable, Beneficial Conversion Feature	$ 47,800,000
Noralta [Member] | Preferred Stock [Member] | Class A Series 1 Preferred Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Liquidation Preference	$ 96,800,000
Business Acquisition, Equity Interest Issued or Issuable, Liquidation Preference, Percent	61.00%
Business Acquisition, Equity Interest Issued or Issuable, Beneficial Conversion Feature	$ 47,800,000
Lakeland [Member]
Payments to Acquire Businesses, Gross			$ 23,500,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares			1,200,000
Business Combination, Consideration Transferred, Total			$ 28,000,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable			$ 4,500,000
Number of Rooms			400
Area of Land | a			40
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total			$ 8,200,000
Lakeland [Member] | Customer Contracts [Member]
Finite-Lived Intangible Assets, Remaining Amortization Period			1 year 120 days

Note 7 - Acquisitions - Purchas

Note 7 - Acquisitions - Purchase Consideration and Estimated Fair Value (Details) $ / shares in Units, shares in Thousands, $ in Thousands, $ in Millions	Apr. 02, 2018USD ($)shares	Apr. 02, 2018CAD ($)shares	Mar. 29, 2018$ / shares
Common share price as of March 29, 2018 (in dollars per share) | $ / shares			$ 3.77
Less: Common shares held in escrow, expected to be released to Civeo	$ (8,825)
Less: Cash held in escrow, expected to be released to Civeo	(15,763)
Less: Preferred Shares held in escrow, expected to be released to Civeo	$ (4,221)
Noralta [Member]
Common shares issued (in shares) | shares	32,791	32,791
Cash consideration	$ 161,162	$ 207.7
Total purchase consideration	343,826
Less: Cash held in escrow, expected to be released to Civeo		$ 43.5
Total purchase consideration	315,017
Noralta [Member] | Common Stock [Member]
Share consideration	123,622
Noralta [Member] | Preferred Stock [Member]
Share consideration	$ 59,042

Note 7 - Acquisitions - Estimat

Note 7 - Acquisitions - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		Jun. 30, 2018	Apr. 02, 2018	Dec. 31, 2017
Goodwill		$ 117,307
Noralta [Member]
Cash and cash equivalents			$ 24
Accounts receivable	[1]		21,456
Inventories			839
Other current assets			4,550
Property, plant and equipment			132,888
Goodwill			119,858
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total			114,136
Total assets acquired			393,751
Accounts payable and accrued liabilities			15,305
Income taxes payable			1,226
Other current liabilities			2,079
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent			53,066
Other noncurrent liabilities			7,058
Total liabilities assumed			78,734
Net assets acquired			$ 315,017
[1]	The aggregate fair value of the acquired accounts receivable approximated the aggregate gross contractual amount.

Note 7 - Acquisitions - Identif

Note 7 - Acquisitions - Identifiable Assets and Liabilities (Details) - Noralta [Member] $ in Thousands	Apr. 02, 2018USD ($)
Intangible assets	$ 114,136
Intangible liabilities	2,456
Net intangible assets	111,680
Unfavorable Lease Contracts [Member]
Intangible liabilities	2,456
Trade Names [Member]
Intangible assets	1,474
Contract-Based Intangible Assets [Member]
Intangible assets	110,258
Off-Market Favorable Lease [Member]
Intangible assets	$ 2,404

Note 7 - Acquisitions - Pro For

Note 7 - Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues	$ 130,177	$ 92,010	$ 231,681	$ 183,439
Net loss attributable to Civeo Corporation common shareholders	(48,321)	(14,816)	(103,778)	(35,803)
Noralta [Member]
Revenues	130,177
Revenues		124,100	266,264	235,215
Net loss attributable to Civeo Corporation common shareholders	$ (48,321)
Net loss attributable to Civeo Corporation common shareholders		$ (6,330)	$ (101,846)	$ (27,208)
Basic net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.29)
Basic net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)		$ (0.04)	$ (0.69)	$ (0.17)
Diluted net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.29)
Diluted net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)		$ (0.04)	$ (0.69)	$ (0.17)

Note 8 - Assets Held for Sale51

Note 8 - Assets Held for Sale (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2018	Dec. 31, 2017
Disposal Group, Including Discontinued Operation, Assets, Current, Total			$ 12,519	$ 9,462
Modular Construction and Manufacturing Plant Near Edmonton, Alberta, Canada [Member] | Canadian Segment [Member]
Disposal Group, Including Discontinued Operation, Depreciation and Amortization	$ 100	$ 300
Undeveloped Land Positions in the British Columbia Segment [Member] | Canadian Segment [Member]
Disposal Group, Including Discontinued Operation, Assets, Current, Total	4,200	4,200
Noralta [Member]
Disposal Group, Including Discontinued Operation, Assets, Current, Total	$ 3,200	$ 3,200

Note 8 - Assets Held for Sale -

Note 8 - Assets Held for Sale - Carrying Amount of Assets Held for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets held for sale:
Property, plant and equipment, net	$ 12,519	$ 9,418
Inventories		44
Total assets held for sale	$ 12,519	$ 9,462

Note 9 - Goodwill and Other I53

Note 9 - Goodwill and Other Intangible Assets (Details Textual)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets, Remaining Amortization Period	16 years 109 days	3 years 36 days

Note 9 - Goodwill and Other I54

Note 9 - Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Balance
Noralta Acquisition (1)	119,858	[1]
Foreign currency translation	(2,551)
Balance	117,307
Canadian Segment [Member]
Balance
Noralta Acquisition (1)	119,858	[1]
Foreign currency translation	(2,551)
Balance	117,307
Australian Segment [Member]
Balance
Noralta Acquisition (1)		[1]
Foreign currency translation
Balance
U.S. Segment [Member]
Balance
Noralta Acquisition (1)		[1]
Foreign currency translation
Balance
[1]	Please see Note 7 - Acquisitions for further information.

Note 9 - Goodwill and Other I55

Note 9 - Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Amortizable Intangible Assets, Gross Carrying Amount	$ 200,175	$ 84,246
Amortizable Intangible Assets, Accumulated Amortization	(66,241)	(61,525)
Indefinite-Lived Intangible Assets Not Subject to Amortization	30	32
Total Intangible Assets, Gross Carrying Amount	200,205	84,278
Licensing Agreements [Member]
Indefinite-Lived Intangible Assets Not Subject to Amortization	30	32
Customer Relationships [Member]
Amortizable Intangible Assets, Gross Carrying Amount	43,331	45,209
Amortizable Intangible Assets, Accumulated Amortization	(34,327)	(33,997)
Trade Names [Member]
Amortizable Intangible Assets, Gross Carrying Amount	1,443
Amortizable Intangible Assets, Accumulated Amortization	(472)
Customer Contracts [Member]
Amortizable Intangible Assets, Gross Carrying Amount	152,373	38,362
Amortizable Intangible Assets, Accumulated Amortization	(30,704)	(26,853)
Off-Market Favorable Lease [Member]
Amortizable Intangible Assets, Gross Carrying Amount	2,353
Amortizable Intangible Assets, Accumulated Amortization	(63)
Noncompete Agreements [Member]
Amortizable Intangible Assets, Gross Carrying Amount	675	675
Amortizable Intangible Assets, Accumulated Amortization	$ (675)	$ (675)

Note 9 - Goodwill and Other I56

Note 9 - Goodwill and Other Intangible Assets - Remaining Amortization of Intangible Assets (Details) $ in Thousands	Jun. 30, 2018USD ($)
2018 (remainder of the year)	$ 10,422
2,019	15,736
2,020	12,728
2,021	5,810
2,022	5,797
Thereafter	83,441
Total	$ 133,934

Note 10 - Earnings Per Share (D

Note 10 - Earnings Per Share (Details Textual) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4.1	2.3	3.5	2.1
Preferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	29.3		29.3

Note 10 - Earnings Per Share -

Note 10 - Earnings Per Share - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net loss attributable to Civeo’s common shareholders		$ (48,321)	$ (14,816)	$ (103,778)	$ (35,803)
Less: undistributed net income to participating securities
Net loss attributable to Civeo common shareholders		$ (48,321)	$ (14,816)	$ (103,778)	$ (35,803)
Weighted average common shares outstanding - basic (in shares)		165,373	130,692	148,595	125,796
Basic net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)		$ (0.29)	$ (0.11)	$ (0.70)	$ (0.28)
Net loss attributable to Civeo common shareholders - basic		$ (48,321)	$ (14,816)	$ (103,778)	$ (35,803)
Less: undistributed net income to participating securities
Net loss attributable to Civeo common shareholders - diluted		$ (48,321)	$ (14,816)	$ (103,778)	$ (35,803)
Effect of dilutive securities (in shares)	[1]
Weighted average common shares outstanding - diluted (in shares)		165,373	130,692	148,595	125,796
Diluted net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)		$ (0.29)	$ (0.11)	$ (0.70)	$ (0.28)
[1]	When an entity has a net loss from continuing operations, it is prohibited from including potential common shares in the computation of diluted per share amounts. Accordingly, we have utilized the basic shares outstanding amount to calculate both basic and diluted loss per share for the three and six months ended June 30, 2018 and 2017. In the three months ended June 30, 2018 and 2017, we excluded from the calculation 4.1 million and 2.3 million share based awards, respectively, since the effect would have been anti-dilutive. In the six months ended June 30, 2018 and 2017, we excluded from the calculation 3.5 million and 2.1 million share based awards, respectively, since the effect would have been anti-dilutive. In the three and six months ended June 30, 2018, we excluded from the calculation the impact of converting the Preferred Shares into 29.3 million common shares, since the effect would have been anti-dilutive.

Note 11 - Debt (Details Textual

Note 11 - Debt (Details Textual) $ in Thousands	Apr. 02, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Interest Costs Capitalized Adjustment		$ 0	$ 0
Gain (Loss) on Extinguishment of Debt, Total		$ (748)		$ (748)	$ (842)
Interest Coverage Ratio				3
Leverage Ratio		4.5		4.5
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | United States of America, Dollars
Debt Instrument, Basis Spread on Variable Rate	2.25%
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | United States of America, Dollars
Debt Instrument, Basis Spread on Variable Rate	4.00%
Line of Credit [Member] | Base Rate [Member] | Minimum [Member] | United States of America, Dollars
Debt Instrument, Basis Spread on Variable Rate	1.25%
Line of Credit [Member] | Base Rate [Member] | Minimum [Member] | Canada, Dollars
Debt Instrument, Basis Spread on Variable Rate	1.25%
Line of Credit [Member] | Base Rate [Member] | Maximum [Member] | United States of America, Dollars
Debt Instrument, Basis Spread on Variable Rate	3.00%
Line of Credit [Member] | Base Rate [Member] | Maximum [Member] | Canada, Dollars
Debt Instrument, Basis Spread on Variable Rate	3.00%
Line of Credit [Member] | Canadian Dealer Offered Rate (CDOR) [Member] | Minimum [Member] | Canada, Dollars
Debt Instrument, Basis Spread on Variable Rate	2.25%
Line of Credit [Member] | Canadian Dealer Offered Rate (CDOR) [Member] | Maximum [Member] | Canada, Dollars
Debt Instrument, Basis Spread on Variable Rate	4.00%
Line of Credit [Member] | Bank Bill Swap Bid Rate (BBSY) [Member] | Minimum [Member] | Australia, Dollars
Debt Instrument, Basis Spread on Variable Rate	2.25%
Line of Credit [Member] | Bank Bill Swap Bid Rate (BBSY) [Member] | Maximum [Member] | Australia, Dollars
Debt Instrument, Basis Spread on Variable Rate	4.00%
Amended Credit Facility [Member]
Number of Lenders		9		9
Amended Credit Facility [Member] | Minimum [Member]
Lender Commitments, Within Credit Agreement		$ 24,900		$ 24,900
Amended Credit Facility [Member] | Maximum [Member]
Lender Commitments, Within Credit Agreement		110,600		$ 110,600
Amended Credit Facility [Member] | US Term Loan [Member]
Debt Instrument, Face Amount						$ 350,000
Revolving Credit Facility [Member] | Amended Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 239,500					275,000
Line of Credit Facility, Maximum Borrowing Capacity, Increase (Decrease)	(35,500)
Revolving Credit Facility, U.S. Subsidiaries [Member] | Amended Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	20,000					40,000
Revolving Credit Facility, Canadian Subsidiaries [Member] | Amended Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	159,500					90,000
Revolving Credit Facility, The Company [Member] | Amended Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity						60,000
Revolving Credit Facility, Australian Subsidiaries [Member] | Amended Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 60,000					$ 85,000
Gain (Loss) on Extinguishment of Debt, Total		$ 700

Note 11 - Debt - Long-term Debt

Note 11 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Total debt, including unamortized debt issuance costs	$ 430,209	$ 297,623
Less: Unamortized debt issuance costs	3,046	3,037
Total debt	427,163	294,586
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	27,643	16,596
Long-term debt, less current maturities	399,520	277,990
Canadian Term Loan [Member]
Term loan	272,564	297,623
US Revolving Credit Facility [Member]
Revolving credit facility
Canadian Credit Facility [Member]
Revolving credit facility	132,516
Australian Credit Facility [Member]
Revolving credit facility	$ 25,129

Note 11 - Debt - Long-term De61

Note 11 - Debt - Long-term Debt (Details) (Parentheticals)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Canadian Term Loan [Member]
Maturity date	Nov. 30, 2020	Nov. 30, 2020
Term loan, interest rate	2.50%	2.50%
Term loan, weighted-average interest rate	5.50%	5.50%
US Revolving Credit Facility [Member]
Maturity date	Nov. 30, 2020
Line of credit facility, interest rate	7.20%
Canadian Credit Facility [Member]
Maturity date	Nov. 30, 2020
Line of credit facility, interest rate	6.10%
Australian Credit Facility [Member]
Maturity date	Nov. 30, 2020
Line of credit facility, interest rate	5.50%

Note 11 - Debt - Changes to Max

Note 11 - Debt - Changes to Maximum Leverage Ratio (Details)	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Jun. 30, 2018
Maximum Leverage Ratio				4.5	4.5
Scenario, Forecast [Member]
Maximum Leverage Ratio	3.5	3.75	4.25

Note 12 - Preferred Shares (Det

Note 12 - Preferred Shares (Details Textual) - USD ($)	Apr. 02, 2018	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017
Stock Issued During Period, Value, Acquisitions			$ 173,864,000
Weighted Average Share Price	$ 3.30		$ 3.30
Dividend, Preferred Stock, Beneficial Conversion Feature	$ 47,800,000	$ 47,849,000
Preferred Stock, Dividend Rate, Per-Dollar-Amount			$ 49.44
Dividends, Preferred Stock, Paid-in-kind		484,000	$ 484,000
Dividend, Preferred Stock, Paid-in-kind, Beneficial Conversion Feature		$ 155,000	200,000
Additional Paid-in Capital [Member]
Stock Issued During Period, Value, Acquisitions	166,900		166,892,000
Preferred Stock [Member]
Stock Issued During Period, Value, Acquisitions	$ 7,000		$ 6,972,000
Preferred Stock Convertible into Common Stock [Member]
Conversion of Stock, Conversion Price	$ 3.30
Series A Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	2.00%
Series A Preferred Stock [Member] | Maximum [Member]
Preferred Stock, Dividend Rate, Percentage	3.00%
Noralta [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	32,791,000
Noralta [Member] | Preferred Stock [Member] | Series A Preferred Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	9,679
Business Acquisition, Equity Interest Issued or Issuable, Liquidation Preference Per Share	$ 10,000
Business Acquisition, Equity Interest Issued or Issuable, Beneficial Conversion Feature	$ 47,800,000

Note 12 - Preferred Shares - Pr

Note 12 - Preferred Shares - Preferred Dividends (Details) - USD ($)	Apr. 02, 2018	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017
Deemed dividend on beneficial conversion feature at April 2, 2018	$ 47,800,000	$ 47,849,000
Preferred dividends paid-in-kind		484,000	$ 484,000
Deemed dividend on beneficial conversion feature related to in-kind dividend		155,000	$ 200,000
Total preferred dividends		$ 48,488,000

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Apr. 02, 2018
Income Tax Expense (Benefit), Total	$ (23,371)	$ (2,916)	$ (24,056)	$ (5,864)
Effective Income Tax Rate Reconciliation, Percent, Total	101.30%	16.50%	30.40%	14.10%
Effective Income Tax Rate Reconciliation, Interim Tax Provison, Percent			(5.00%)	(13.00%)
Deferred Tax Asset, Business Acquisition [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount			$ (4,900)
Foreign Tax Authority [Member] | Canada Revenue Agency [Member]
Deferred Foreign Income Tax Expense (Benefit)			$ (4,900)
Noralta [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent					$ 53,066
Minimum [Member]
Statutory Tax Rate, Foreign and Domestic	21.00%		21.00%
Maximum [Member]
Statutory Tax Rate, Foreign and Domestic	30.00%		30.00%

Note 15 - Accumulated Other C66

Note 15 - Accumulated Other Comprehensive Loss (Details Textual) $ in Thousands, $ in Billions, $ in Billions	Jun. 30, 2018USD ($)	Jun. 30, 2018CAD ($)	Jun. 30, 2018AUD ($)	Dec. 31, 2017USD ($)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax, Ending Balance	$ 24,300
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total	$ (352,466)			$ (328,213)
Translation Adjustment Functional to Reporting Currency, Net of Tax, Ending Balance		$ 0.3	$ 0.4

Note 16 - Share Based Compens67

Note 16 - Share Based Compensation (Details Textual) $ in Thousands	May 10, 2018shares	Feb. 20, 2018shares	Jun. 30, 2018USD ($)shares	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)shares	Jun. 30, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares			18,700,000		18,700,000
Employee Stock Option [Member]
Allocated Share-based Compensation Expense, Total			$ 0	$ 100	$ 100	$ 100
Restricted Stock and Deferred Stock Awards [Member]
Allocated Share-based Compensation Expense, Total			1,600	1,000	2,900	2,300
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			1,000	1,100	3,400	2,400
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options			11,400		$ 11,400
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 36 days
Restricted Stock and Deferred Stock Awards [Member] | Civeo Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares		2,018,990
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Restricted Stock [Member] | Civeo Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	265,153
Phantom Share Units (PSUs) [Member]
Allocated Share-based Compensation Expense, Total			2,600	1,100	$ 6,000	4,100
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options			6,800		$ 6,800
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					328 days
Performance Shares [Member]
Allocated Share-based Compensation Expense, Total			1,200	$ 800	$ 2,200	$ 1,500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options			$ 7,400		$ 7,400
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years
Performance Shares [Member] | Civeo Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares		848,830
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Peer Group, Number of Companies		17
Performance Shares [Member] | Civeo Plan [Member] | Minimum [Member]
Target Performance Share Award, Percentage		0.00%
Performance Shares [Member] | Civeo Plan [Member] | Maximum [Member]
Target Performance Share Award, Percentage		200.00%

Note 17 - Segment and Related68

Note 17 - Segment and Related Information - Financial Information by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Total Revenues	$ 130,177	$ 92,010	$ 231,681	$ 183,439
Depreciation and amortization	34,270	31,554	65,034	64,383
Operating income (loss)	(15,501)	(13,367)	(68,016)	(31,099)
Capital expenditures	3,247	2,154	5,943	6,037
Total assets	1,117,948	916,588	1,117,948	916,588	$ 853,912
Canadian Segment [Member]
Total Revenues	86,518	57,668	149,908	118,174
Depreciation and amortization	19,245	17,559	35,756	35,972
Operating income (loss)	(6,718)	(9,586)	(46,648)	(14,592)
Capital expenditures	1,409	465	2,481	1,516
Total assets	860,149	552,076	860,149	552,076
Australian Segment [Member]
Total Revenues	30,577	28,607	58,452	55,623
Depreciation and amortization	10,649	11,231	21,766	23,053
Operating income (loss)	(1,099)	(3,416)	(4,265)	(4,617)
Capital expenditures	475	600	1,069	1,455
Total assets	314,446	383,715	314,446	383,715
U.S. Segment [Member]
Total Revenues	13,082	5,735	23,321	9,642
Depreciation and amortization	2,861	1,194	4,467	2,384
Operating income (loss)	(1,832)	(3,604)	(5,096)	(6,406)
Capital expenditures	1,029	212	1,898	636
Total assets	61,243	30,978	61,243	30,978
Corporate and Other [Member]
Total Revenues
Depreciation and amortization	1,515	1,570	3,045	2,974
Operating income (loss)	(5,852)	3,239	(12,007)	(5,484)
Capital expenditures	334	877	495	2,430
Total assets	$ (117,890)	$ (50,181)	$ (117,890)	$ (50,181)