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Business Description and Basis of Presentation [Text Block]

1.	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Description of the Business

We are one of North America’s and Australia’s largest integrated providers of accommodations services for people working in remote locations. Our scalable modular facilities provide long-term and temporary workforce accommodations where traditional infrastructure is insufficient, inaccessible or not cost effective. Once facilities are deployed in the field, we also provide catering and food services, housekeeping, laundry, facility management, water and wastewater treatment, power generation, communications and redeployment logistics. Our accommodations support workforces in the Canadian oil sands and in a variety of oil and natural gas drilling, mining and related natural resource applications as well as disaster relief efforts, primarily in Canada, Australia and the United States. We operate in three principal reportable business segments – Canadian, Australian and U.S.

On May 5, 2014, the Oil States International, Inc. (Oil States) board of directors approved the separation of its Accommodations Segment (Accommodations) into a standalone, publicly traded Delaware corporation, Civeo Corporation, now named Civeo USA Corp. (Civeo US). In accordance with the Separation and Distribution Agreement, the two companies were separated by Oil States distributing to its stockholders all 106,538,044 shares of common stock of Civeo US it held after the market closed on May 30, 2014 (the Spin-Off). Each Oil States stockholder received two shares of Civeo US common stock for every one share of Oil States stock held at the close of business on the record date of May 21, 2014. In conjunction with the Spin-Off, Oil States received a private letter ruling from the Internal Revenue Service to the effect that, based on certain facts, assumptions, representations and undertakings set forth in the ruling, for U.S. federal income tax purposes, the distribution of Civeo US common stock was not taxable to Oil States or U.S. holders of Oil States common stock. Following the Spin-Off, Oil States retained no ownership interest in Civeo US, and each company now has separate public ownership, boards of directors and management. A registration statement on Form 10, as amended through the time of its effectiveness, describing the Spin-Off was filed by Civeo US with the U.S. Securities and Exchange Commission (SEC) and was declared effective on May 8, 2014. On June 2, 2014, Civeo US stock began trading the “regular-way” on the New York Stock Exchange (NYSE) under the “CVEO” stock symbol. Pursuant to the Separation and Distribution Agreement with Oil States, on May 28, 2014, we made a special cash distribution to Oil States of $750 million.

On July 17, 2015, we completed our change in place of incorporation, pursuant to which Civeo Corporation, a British Columbia, Canada limited company formerly named Civeo Canadian Holdings ULC (Civeo Canada), became the publicly traded parent company of the Civeo group of companies (the Redomicile Transaction). The Redomicile Transaction was effected pursuant to a previously announced Agreement and Plan of Merger, dated as of April 6, 2015, between Civeo US, Civeo US Merger Co, a Delaware corporation and wholly owned subsidiary of Civeo Canada (US Merger Co), and Civeo Canada. At the effective time of the merger, (i) US Merger Co was merged with Civeo US, with Civeo US surviving the merger as a wholly owned subsidiary of Civeo Canada, and (ii) each issued share of Civeo US common stock, other than those shares of Civeo US common stock held by Civeo US in treasury, was effectively transferred to Civeo Canada and converted into one common share, no par value, of Civeo Canada. An aggregate of approximately 107.5 million Civeo Canada common shares were issued at the effective time as merger consideration. The Civeo Canada common shares are listed on the NYSE under the symbol “CVEO”, the same symbol under which the Civeo US common stock traded prior to the effective time.

The Redomicile Transaction qualified as

a “self-directed redomiciling” of the Company as permitted under the U.S. Internal Revenue Code. U.S. federal income tax laws permit a company to change its domicile to a foreign jurisdiction without corporate-level U.S. federal income taxes provided that such company has “substantial business activity” in the relevant jurisdiction. “Substantial business activity” is defined as foreign operations consisting of over 25% of the company’s total (i) revenues, (ii) assets, (iii) employees and (iv) employee compensation. With approximately 50% or more of our operations in Canada based on these metrics, we qualified for a self-directed redomiciling.

In connection with the Spin-Off, on May 28, 2014, we entered into a $650.0 million, 5-year revolving credit facility and a 5-year U.S. term loan facility totaling $775.0 million (collectively, the Credit Facility) for an aggregate borrowing capacity of $1.4 billion.

On July 17, 2015, the First Amendment to the Credit Facility (the Amended Credit Facility) became effective. The Amended Credit Facility, among other things, (i) allows us to borrow under new Canadian tranches of the Credit Facility, (ii) substantially reduced both the existing U.S. term loan and the U.S. revolver and (iii) increased the maximum leverage ratio allowed under the Credit Facility. For further information, please see Note 7 – Debt to the Unaudited Consolidated Financial Statements.

Basis of Presentation

Unless otherwise stated or the context otherwise indicates, all references in these consolidated financial statements to “Civeo,” “the Company,” “us,” “our” or “we” for the time period prior to the Spin-Off mean the Accommodations business of Oil States. For time periods after the Spin-Off but prior to July 17, 2015, these terms refer to Civeo US and its consolidated subsidiaries. For time periods after July 17, 2015, these terms refer to Civeo Canada and its consolidated subsidiaries.

Prior to the Spin-Off, our financial position, results of operations and cash flows consisted of the Oil States’ Accommodations business and an allocable portion of its corporate costs, which represented a combined reporting entity. The combined financial statements for periods prior to the Spin-Off have been prepared on a stand-alone basis and are derived from the consolidated financial statements and accounting records of Oil States. The combined financial statements reflect our historical financial position, results of operations and cash flows as we were historically managed, in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The combined financial statements include certain assets and liabilities that have historically been held at the Oil States corporate level, but are specifically identifiable or otherwise attributable to us.

All financial information presented after the Spin-Off represents the consolidated results of operations, financial position and cash flows of Civeo. Accordingly:

●

Our consolidated statements of operations

and comprehensive income (loss) for the three months ended September 30, 2014 consist entirely of the consolidated results of Civeo. Our consolidated statements of operations

, comprehensive income (loss), cash flows and changes in stockholders’ equity / net investment for the nine months ended September 30, 2014 consist of (i) the combined results of the Oil States’ Accommodations business for the five months ended May 30, 2014 and (ii) the consolidated results of Civeo for the four months ended September30,2014.

●

Our consolidated statements of operations

, comprehensive income (loss), cash flows and changes in shareholders’ equity / net investment for the three and nine months ended September 30, 2015 consist entirely of the consolidated results of Civeo.

●

Our consolidated balance sheets at September 30, 2015 and December 31, 2014 consist of the consolidated balances of Civeo.

The assets and liabilities in our consolidated financial statements have been reflected on a historical basis, as immediately prior to the Spin-Off all of the assets and liabilities presented were wholly owned by Oil States and were transferred within the Oil States consolidated group. All intercompany transactions and accounts have been eliminated. All affiliate transactions between Civeo and Oil States have been included in these consolidated financial statements.

The consolidated financial statements for periods prior to the Spin-Off included expense allocations for: (1) certain corporate functions historically provided by Oil States, including, but not limited to finance, legal, risk management, tax, treasury, information technology, human resources, and certain other shared services; (2) certain employee benefits and incentives; and (3) equity-based compensation. These expenses were allocated to us on the basis of direct usage when identifiable, with the remainder allocated based on estimated time spent by Oil States personnel, a pro-rata basis of headcount or other relevant measures of Oil States and its subsidiaries. We consider the basis on which the expenses were allocated to be a reasonable reflection of the utilization of services provided to or the benefit received by us during the periods presented. The allocations may not, however, reflect the expense we would have incurred as an independent, publicly traded company for the periods presented. Actual costs that may have been incurred if we had been a stand-alone company would depend on a number of factors, including the chosen organizational structure, which functions were outsourced or performed by employees and strategic decisions made in areas such as information technology and infrastructure.

Oil States used a centralized approach to the cash management and financing of its U.S. operations. Prior to February 2014, cash from our U.S. operations was transferred to Oil States daily and Oil States funded our U.S. operating and investing activities as needed. Accordingly, the cash and cash equivalents held by Oil States at the corporate level were not allocated to us for any of the periods presented prior to February 2014. We reflected the transfer of cash to and from Oil States as a component of “Net Investment of Oil States International, Inc.” on our consolidated balance sheet. We have not included interest expense for intercompany cash advances from Oil States, since historically Oil States has not allocated interest expense related to intercompany advances to any of its businesses. Beginning in February 2014, we established Civeo cash accounts and funded a portion of our U.S. operating and investing activities.

The accompanying unaudited consolidated financial statements of Civeo have been prepared pursuant to the rules and regulations of the SEC pertaining to interim financial information. Certain information in footnote disclosures normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to these rules and regulations. The unaudited financial statements included in this report reflect all the adjustments, consisting of normal recurring adjustments, which the Company considers necessary for a fair presentation of the results of operations for the interim periods covered and for the financial condition of the Company at the date of the interim balance sheet. Results for the interim periods are not necessarily indicative of results for the full year.

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 differ from those included in the accompanying consolidated financial statements.

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-K for the year ended December 31, 2014.

Note 2 - Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2015

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

2.	RECENT ACCOUNTING PRONOUNCEMENTS

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, which are not yet effective, will not have a material impact on our consolidated financial statements upon adoption.

In April 2015, the FASB issued Accounting Standards Update (ASU) 2015-03 "Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs" (ASU 2015-03). ASU 2015-03 simplifies the presentation of debt issuance costs by requiring that such costs be presented as a deduction from the corresponding debt liability. The guidance is effective for financial statements issued for reporting periods beginning after December 15, 2015 and interim periods within the reporting periods and requires retrospective presentation. Early adoption is permitted. We plan to adopt the standard in the first quarter of 2016. As of September 30, 2015, we had debt issuance costs totaling $9.9 million, which are included in Prepaid expenses and other current assets ($2.6 million) and Other non-current assets ($7.3 million) on the accompanying unaudited consolidated balance sheets. A portion of these costs relate to revolving lines of credit, and will accordingly continue to be included in Prepaid expenses and other current assets or Other non-current assets.

In February 2015, the FASB issued ASU 2015-02 "Amendments to the Consolidation Analysis" (ASU 2015-02). ASU 2015-02 alters the models used to determine consolidation conclusions for certain entities, including limited partnerships, and may require additional disclosures. ASU 2015-02 is effective for financial statements issued for reporting periods beginning after December 15, 2015 and interim periods within the reporting periods with either retrospective or modified retrospective presentation allowed. We plan to adopt the standard in the first quarter of 2016 and are currently evaluating the impact of the new standard on our financial statements.

In May 2014, the FASB issued ASU 2014-09 establishing Accounting Standards Codification (ASC) Topic 606, "Revenue from Contracts with Customers" (ASC 606). ASC 606 establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to be entitled to receive in exchange for those goods or services and requires significantly enhanced revenue disclosures. The standard is effective for annual reporting periods beginning after December 15, 2017. Accordingly, we plan to adopt this standard in the first quarter of 2018. ASC 606 allows either full retrospective or modified retrospective transition, and early adoption is not permitted. We continue to evaluate both the impact of this new standard on our financial statements and the transition method we will utilize for adoption.

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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Note 3 - Fair Value Measurements

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Text Block]

3.	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, other than our long-term debt to affiliates, on the accompanying consolidated balance sheets approximate their fair values.

As of September 30, 2015 and December 31, 2014, we believe the carrying value of our floating-rate debt outstanding under our term loans approximates its fair value because the term includes short-term interest rates and excludes penalties for prepayment. We estimated the fair value of our floating-rate term loan using significant other observable inputs, representative of a Level 2 fair value measurement, including terms and credit spreads for this loan.

As a result of the sustained reduction of our share price throughout 2015, our market capitalization implies an enterprise value which is significantly less than the sum of the estimated fair values of our reporting units. As a result of our market capitalization at September 30, 2015, coupled with (1) the continued depression of worldwide oil prices, including the substantial declines experienced in the third quarter of 2015, and (2) continued weakness in the Canadian dollar and Australian dollar in the third quarter 2015, we determined that an indicator of a goodwill impairment was present. Our estimate of implied fair value (IFV) requires us to use significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances, such as industry and/or local market conditions that might directly impact each of the reporting units’ operations in the future, and are therefore uncertain. Accordingly, as a result of current macroeconomic conditions, we performed a goodwill impairment test as of September 30, 2015, and we reduced the value of our goodwill in our Canadian reporting unit to zero. This resulted in an impairment charge in the third quarter 2015 which totaled $43.2 million.

During 2015, certain long-lived assets were written down to their fair value. As a result, we recorded impairment expense of $65.0 million and $77.2 million for the three and nine months ended September 30, 2015, respectively. In addition, certain indefinite-lived intangible assets were written down to their fair value, resulting in an impairment charge of $2.5 million for the three and nine months ended September 30, 2015. Our estimate of their fair value requires us to use significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances, such as future oil, coal and natural gas prices, anticipated spending by our customers, the cost of capital, and industry and/or local market conditions that might directly impact each of the asset groups’ operations in the future, and are therefore uncertain. For further information, please see Note 4 – Details of Selected Balance Sheet Accounts to the Unaudited Consolidated Financial Statements.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 4 - Details of Selected Balance Sheet Accounts

9 Months Ended

Sep. 30, 2015

Supplemental Balance Sheet Disclosures [Text Block]

4.	DETAILS OF SELECTED BALANCE SHEET ACCOUNTS

Additional information regarding selected balance sheet accounts at September 30, 2015 and December 31, 2014 is presented below (in thousands):

	September 30, 2015			December 31, 201 4
Accounts receivable, net:
Trade	$	44,923		$	124,198
Unbilled revenue		18,752			38,487
Other		1,052			1,611
Total accounts receivable		64,727			164,296
Allowance for doubtful accounts		(1,046	)		(4,043	)
Total accounts receivable, net	$	63,681		$	160,253

	September 30, 2015		December 31, 2014
Inventories:
Finished goods and purchased products	$	2,054	$	2,814
Work in process		209		4,790
Raw materials		3,344		5,624
Total inventories	$	5,607	$	13,228

	Estimated Useful Life (in years)				September 30, 2015			December 31, 2014
Property, plant and equipment, net:
Land					$	48,174		$	55,365
Accommodations assets		3	-	15		1,485,487			1,687,033
Buildings and leasehold improvements		3	-	20		29,357			40,256
Machinery and equipment		4	-	15		9,552			12,117
Office furniture and equipment		3	-	7		28,844			32,181
Vehicles		3	-	5		16,396			19,128
Construction in progress						77,662			70,603
Total property, plant and equipment						1,695,472			1,916,683
Accumulated depreciation						(744,830	)		(668,253	)
Total property, plant and equipment, net					$	950,642		$	1,248,430

During the third quarter of 2015, as a result of the sustained reduction of our share price throughout 2015, we reviewed the long-lived assets in our U.S. and Australia reportable segments to determine if an indicator of impairment had occurred that would indicate that the carrying values of the asset groups in these segments might not be recoverable. We determined that certain asset groups within the segments had experienced an indicator of impairment, and thus compared the carrying value of the respective asset group to estimates of undiscounted future cash flows. Based on the assessment, the carrying values of three of our assets groups were determined to not be recoverable, and we proceeded to compare the fair value of the asset groups to their carrying value. As a result, we recorded an impairment loss of $20.5 million related to our U.S. segment. Of the $20.5 million impairment, $18.0 million reduced the value of our fixed assets and $2.5 million reduced the value of our amortizable intangible assets. In addition, we recorded an impairment loss of $24.0 million related to our Australian segment that reduced the value of our fixed assets.

Furthermore, as a result of the goodwill impairment in our Canadian segment, we determined all asset groups within this segment had experienced a trigger that indicated that the carrying values might not be recoverable. Accordingly, we compared the carrying value of each asset group to estimates of undiscounted cash flows. Based on the assessment, carrying values of certain assets groups were determined to be unrecoverable, and we proceeded to compare the fair value of those assets groups to their respective carrying values. As a result, we recorded an impairment loss of $11.1 million related to our Canadian segment.

Additionally, during the third quarter of 2015, we identified assets in our Canadian segment that should have been impaired in the fourth quarter of 2014. We determined that the error was not material to our financial statements for the year ended December 31, 2014 and therefore corrected the error in the third quarter of 2015. This resulted in an additional impairment expense of $11.9 million during the three and nine months ended September 30, 2015.

During the second quarter of 2015, we recorded an impairment expense of $9.5 million, resulting from the impairment of fixed assets in a village located in Western Australia, due to the continued downturn in gold mining activity and lack of contract renewals. We assessed the carrying value of the asset group to determine if it continued to be recoverable based on estimated future cash flows. Based on the assessment, the carrying value was determined to not be recoverable.

	September 30, 201 5		December 31, 201 4
Accrued liabilities:
Accrued compensation	$	13,235	$	15,273
Accrued taxes, other than income taxes		1,075		1,567
Accrued interest		11		60
Other		2,721		5,612
Total accrued liabilities	$	17,042	$	22,512

Note 5 - Assets Held for Sale

9 Months Ended

Sep. 30, 2015

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

5.	ASSETS HELD FOR SALE

During the first quarter of 2015, we made the decision to dispose of our manufacturing facility in Johnstown, Colorado. Accordingly, the facility met the criteria of held for sale, and its carrying value was adjusted downward to $8.7 million, which represents its estimated fair value less the cost to sell. We recorded a pre-tax impairment expense of $2.7 million and an additional $1.1 million to write-down our inventory as a result. Additionally, we have discontinued depreciation of the facility. Depreciation expense related to the facility totaled approximately zero and $0.2 million during the three months ended September 30, 2015 and 2014, respectively, and approximately $0.2 million and $0.6 million during the nine months ended September 30, 2015 and 2014, respectively. The facility was part of our U.S. reportable business segment.

The following table summarizes the carrying amount as of September 30, 2015 of the major classes of assets we classify as held for sale (in thousands):

	September 30,
	201 5
Assets held for sale:
Property, plant and equipment, net	$	8,146
Intangible assets, net		777
Total assets held for sale	$	8,923

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Note 6 - Earnings Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Text Block]

6.	EARNINGS PER SHARE

On May 30, 2014, 106,538,044 shares of our common stock were distributed to Oil States stockholders in connection with the Spin-Off. For comparative purposes, and to provide a more meaningful calculation of weighted-average shares outstanding, we have assumed these shares to be outstanding as of the beginning of each period prior to the Spin-Off presented in the calculation of weighted-average shares. In addition, we have assumed the dilutive securities outstanding at May 30, 2014 were also outstanding for each of the periods prior to the Spin-Off presented. Our calculation of diluted earnings per share excludes all shares issuable pursuant to outstanding stock options for the three and nine months ended September 30, 2015, due to their antidilutive effect.

The calculation of earnings per share attributable to the Company is presented below for the periods indicated (in thousands, except per share amounts):

	THREE MONTHS ENDED						NINE MONTHS ENDED
	SEPTEMBER 30,						SEPTEMBER 30,
	2015			2014			2015			2014
Basic Earnings per Share
Net income (loss) attributable to Civeo	$	(107,685	)	$	32,403		$	(121,162	)	$	82,591
Less: undistributed net income (loss) to participating securities		--			(173	)		--			(385	)
Net income (loss) attributable to Civeo	$	(107,685	)	$	32,230		$	(121,162	)	$	82,206
Weighted average common shares outstanding - basic		106,661			106,311			106,583			106,300
Basic earnings (loss) per share	$	(1.01	)	$	0.30		$	(1.14	)	$	0.77

Diluted Earnings per Share
Net income (loss) attributable to Civeo’s common shareholders	$	(107,685	)	$	32,230		$	(121,162	)	$	82,206

Weighted average common shares outstanding - basic		106,661			106,311			106,583			106,300
Effect of dilutive securities		--			184			--			174
Weighted average common shares outstanding - diluted		106,661			106,495			106,583			106,474

Diluted earnings (loss) per share	$	(1.01	)	$	0.30		$	(1.14	)	$	0.77

Note 7 - Debt

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Text Block]

DEBT

As of September 30, 2015 and December 31, 2014, long-term debt consisted of the following (in thousands):

	September 30, 2015		December 31, 2014
U.S. term loan, which matures on May 28, 2019; 1.25% of aggregate principal repayable per quarter beginning December 31, 2015; weighted average interest rate of 2.6% for the nine month period ended September 30, 2015	$	50,000	$	775,000

Canadian term loan, which matures on May 28, 2019; 1.25% of aggregate principal repayable per quarter beginning December 31, 2015; weighted average interest rate of 3.6% for the nine month period ended September 30, 2015		314,104		--

U.S. revolving credit facility, which matures on May 28, 2019, with available commitments up to $50.0 million; no borrowings outstanding as of September 30, 2015		--		--

Canadian revolving credit facility, which matures on May 28, 2019, with available commitments up to $125.0 million; weighted average interest rate of 3.8% for the nine month period ended September 30, 2015		46,289		--

Canadian revolving credit facility, which matures on May 28, 2019, with available commitments up to $100.0 million; weighted average interest rate of 4.5% for the nine month period ended September 30, 2015		2,987		--

Australian revolving credit facility, which matures on May 28, 2019, with available commitments up to $100.0 million; weighted average interest rate of 4.9% for the nine month period ended September 30, 2015ng the nine month period ended September 30, 2015		2,704		--
Total debt		416,084		775,000
Less: Current portion of long-term debt		18,205		19,375
Long-term debt, less current maturities	$	397,879	$	755,625

Interest expense on the consolidated statements of operations is net of capitalized interest of $0.5 million and $0.8 million for the three month periods ended September 30, 2015 and 2014, respectively. Interest expense on the consolidated statements of operations is net of capitalized interest of $1.2 million and $2.1 million for the nine months ended September 30, 2015 and 2014, respectively.

Amended

Credit Facility

On July 17, 2015, our Credit Facility was amended to, among other things:

	●	Permit us to redomicile to Canada, make associated corporate restructurings and make certain changes to the collateral and guarantees, covenants, events of default and related definitions to reflect the Redomicile Transaction and the new credit facilities referred to below;

	●	Allow for the incurrence of new credit facilities under the Credit Facility, including (i) a new revolving credit facility in a maximum principal amount of US$125 million available to be borrowed by Civeo Canada after the effectiveness of the Amended Credit Facility (July 17, 2015) and (ii) a new term loan facility in the amount of US$325 million to be borrowed by Civeo Canada on the date of the effectiveness of the Amended Credit Facility;

	●	Provide for the partial prepayment of the existing U.S. term loan under the Credit Facility in the aggregate principal amount of US$725 million and the reduction of the aggregate U.S. revolving credit facility to a maximum principal amount of US$50 million;

	●	Increase the interest rate margin by 0.25% within existing levels of total leverage and add two additional levels to the total leverage-based grid such that the interest rates for the loans range from LIBOR +2.0% to LIBOR +4.0% and increase the undrawn commitment fee to range from 0.45% to 0.90% based on total leverage;

●

Make certain changes to the maximum leverage ratio financial covenant, as follows:

Period Ended	Maximum Leverage Ratio

September 30, 2015	3.50 : 1.00
December 31, 2015	4.00 : 1.00
March 31, 2016	4.25 : 1.00
June 30, 2016	4.50 : 1.00
September 30, 2016	4.50 : 1.00
December 31, 2016	4.50 : 1.00
March 31, 2017	4.25 : 1.00
June 30, 2017	4.25 : 1.00
September 30, 2017	4.00 : 1.00
December 31, 2017	4.00 : 1.00
March 31, 2018	3.75 : 1.00
June 30, 2018	3.75 : 1.00
September 30, 2018 & thereafter	3.50 : 1.00

	●	Make certain changes to the application of prepayments and amortization schedules to reflect the new term loan facility and the prepayment of the U.S. term loans; and

●

Make other technical changes and amendments to the Credit Facility.

s a result of the amendment, we recognized a loss during the third quarter 2015 of approximately $1.5 million related to unamortized debt issuance costs, which is included in Loss on extinguishment of debt on the accompanying unaudited consolidated statements of income.

U.S. dollar amounts outstanding under the Amended Credit Facility bear interest at a variable rate equal to LIBOR plus a margin of 2.00% to 4.00%, or a base rate plus 1.00% to 3.00%, in each case based on a ratio of our total leverage to EBITDA (as defined in the Amended Credit Facility). Canadian dollar amounts outstanding under the Amended Credit Facility bear interest at a variable rate equal to CDOR plus a margin of 2.00% to 4.00%, or a base rate plus a margin of 1.00% to 3.00%, in each case based on a ratio of our consolidated total leverage to EBITDA (as defined in the Amended Credit Facility). Australian dollar amounts outstanding under the Amended Credit Facility bear interest at a variable rate equal to BBSY plus a margin of 2.00% to 4.00%, based on a ratio of our consolidated total leverage to EBITDA (as defined in the Amended Credit Facility).

The Amended Credit Facility contains customary affirmative and negative covenants that, among other things, limit or restrict (i) subsidiary indebtedness, liens and fundamental changes, (ii) asset sales, (iii) margin stock, (iv) specified acquisitions, (v) restrictive agreements, (vi) transactions with affiliates and (vii) investments and other restricted payments, including dividends and other distributions. Specifically, we must maintain an interest coverage ratio, defined as the ratio of consolidated EBITDA (as defined in the Amended Credit Facility) to consolidated interest expense, of at least 3.0 to 1.0 and our maximum leverage ratio, defined as the ratio of total debt to consolidated EBITDA, of no greater than 3.5 to 1.0 (as of September 30, 2015). As noted above, the permitted level of the maximum leverage ratio changes over time. Each of the factors considered in the calculations of these ratios are defined in the Amended Credit Facility. EBITDA and consolidated interest, as defined, exclude goodwill and asset impairments, debt discount amortization and other non-cash charges. We were in compliance with these covenants as of September 30, 2015.

We paid certain customary fees with respect to the Amended Credit Facility. We have 15 lenders in our Amended Credit Facility with commitments ranging from $1.6 million to $143.2 million.

Note 8 - Income Taxes

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Text Block]

8.	INCOME TAXES

We operate primarily in three jurisdictions, the U.S., Canada and Australia, where statutory tax rates range from 25% to 35%. Our effective tax rate will vary period to period based on changes in earnings mix between these different jurisdictions. We compute our quarterly taxes under the effective tax rate method based on applying an anticipated annual effective rate to our year-to-date income, except for significant unusual or extraordinary transactions. As the U.S. is now a loss jurisdiction for tax accounting purposes, the U.S. has been removed from the annual effective tax rate computation for purposes of computing the interim tax provision. Income taxes for significant unusual or extraordinary transactions are computed and recorded in the period that the specific transaction occurs.

Our income tax benefit for the nine months ended September 30, 2015 totaled $27.5 million, or 18.6% of pretax loss, compared to income tax expense of $16.4 million, or 16.4% of pretax income, for the nine months ended September 30, 2014. Our income tax benefit included the following non-U.S. items for the nine months ended September 30, 2015 which resulted in a net reduction to our effective tax rate: (1) an income tax expense of approximately $10 million related to unrecognized tax benefits; (2) an income tax expense of approximately $12 million resulting from the impairment of goodwill not deductible for tax purposes; and (3) an income tax expense of approximately $2.7 million related to an increase in statutory tax rates in Alberta, Canada included in our 2015 tax benefit.

Finally, during the third quarter of 2015, management determined that, based on evidence available as of September 30, 2015, it was not more likely than not that the U.S. net operating loss would be realized. This evidence is largely comprised of the reversal of the U.S. jurisdiction from a net deferred tax liability as of December 31, 2014 to a net deferred tax asset as of September 30, 2015. Deferred tax assets generated in 2015 were realized to the extent of the net deferred tax liabilities as of December 31, 2014, resulting in a tax benefit of approximately $20 million. A valuation allowance has been recorded discretely in the third quarter on the remaining deferred tax assets generated in 2015, with the result of no further tax benefit from the U.S. pretax losses.

Our income tax benefit for the three months ended September 30, 2015 totaled $22.7 million, or 17.5% of pretax loss, compared to an expense of $9.0 million, or 21.6% of pretax income, for the three months ended September 30, 2014. The net reduction in our September 30, 2015 three month rate was largely driven by the reasons identified above for the nine month period.

It is reasonably possible in the next twelve months that the resolution of examinations by taxing authorities may result in a change in liabilities for uncertain tax positions accrued ranging from an approximately decrease of $8 million to an increase of $2 million as of September 30, 2015.

Note 9 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2015

Commitments and Contingencies Disclosure [Text Block]

9.	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 assurance about the outcome of pending legal and administrative proceedings and the effect such outcomes may have on us, management believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided for or covered by insurance, will not have a material adverse effect on our consolidated financial position, results of operations or liquidity.

In conjunction with, and effective as of, the Spin-Off, we entered into an Indemnification and Release Agreement with Oil States. This agreement governs the treatment between Oil States and us of all aspects relating to indemnification, insurance, litigation responsibility and management, and litigation document sharing and cooperation arising in connection with the Spin-Off. Generally, the agreement provides for cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of our business with us and financial responsibility for the obligations and liabilities of Oil States’ business with Oil States. The agreement also establishes procedures for handling claims subject to indemnification and related matters. Pursuant to the Indemnification and Release Agreement, we and Oil States will generally release the other party from all claims arising prior to the Spin-Off other than claims arising under the transaction agreements, including the indemnification provisions described above. We evaluated the impact of the indemnifications given and the Civeo indemnifications received as of the Spin-Off date and concluded those fair values were immaterial.

Note 10 - Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2015

Comprehensive Income (Loss) Note [Text Block]

10.	ACCUMULATED OTHER COMPREHENSIVE LOSS

Our accumulated other comprehensive loss increased $171.4 million from $198.5 million at December 31, 2014 to $369.9 million at September 30, 2015, as a result of foreign currency exchange rate differences. Changes in the other comprehensive loss during the first nine months of 2015 were primarily driven by the Canadian and Australian dollars decreasing in value compared to the U.S. dollar. Excluding intercompany balances, our Canadian dollar and Australian dollar functional currency net assets totaled approximately C$0.2 billion and A$0.5 billion, respectively, at September 30, 2015.

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

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Note 11 - Stock Based Compensation

9 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

11.	STOCK BASED COMPENSATION

Prior to the Spin-Off, certain employees of Civeo participated in Oil States’ Equity Participation Plan (the Oil States Plan). The expense associated with these employees is reflected in the accompanying consolidated statements of operations

. Effective May 30, 2014, our employees and non-employee directors began participating in the 2014 Equity Participation Plan of Civeo Corporation (the Civeo Plan). The Civeo Plan authorizes the Board of Directors to grant options, awards of restricted shares, performance awards, dividend equivalents, awards of deferred shares, and share payments to our employees and non-employee directors. No more than 4.0 million Civeo common shares may be awarded under the Civeo Plan.

In connection with the Spin-Off, stock based compensation awards granted under the Oil States Plan and held by Civeo grantees as of May 30, 2014 were replaced with substitute Civeo awards. Stock options were replaced with options to purchase Civeo common stock. Unvested restricted stock awards were replaced with substitute Civeo restricted stock awards. Unvested deferred stock awards were replaced with substitute Civeo deferred stock awards. Additionally, phantom shares granted under the Canadian Long-Term Incentive Plan were converted to units that entitle the recipient to a lump sum cash payment equal to the fair market value of a share of Civeo’s common stock on the respective vesting date. These replacements were intended to preserve the intrinsic value of the awards as of May 30, 2014. The substitution of these awards did not cause us to recognize incremental compensation expense as an equitable adjustment was required to be made as a result of the Spin-Off.

Upon effectiveness of the Redomicile Transaction, Civeo Canada assumed the Civeo US employee equity plans and related award agreements, including all options and awards issued or granted under such plans, as well as certain Civeo US benefit plans and agreements.

In connection with the assumption of these plans, each plan was amended or deemed amended to provide that, as of the effectiveness of the Redomicile Transaction, the plans would include provisions, as applicable, reflecting the Redomicile Transaction and its effects, including changes made to reflect the fact that Civeo Canada common shares will be issued to satisfy awards issued or granted under such plan. Additionally, the 2014 Equity Participation Plan of Civeo Corporation was further amended to comply with applicable Canadian law, including with respect to grants to Canadian employees.

Outstanding Awards

Stock Options.

Compensation expense associated with stock options recognized in the three month periods ended September 30, 2015 and 2014 totaled $0.1 million and $

0.2 million, respectively. Compensation expense associated with stock options recognized in the nine month periods ended September 30, 2015 and 2014 totaled $0.2 million and $

0.5 million, respectively. At September 30, 2015, unrecognized compensation cost related to stock options was $0.3 million, which is expected to be recognized over a weighted average period of 1.8 years.

Restricted Stock

/ Deferred Stock

Awards.

On February 11, 2015, we granted 1,006,528 restricted stock and deferred stock awards under the Civeo Plan, which vest in four equal annual installments beginning on February 11, 2016.

Compensation expense associated with restricted stock awards and deferred stock awards recognized in the three month periods ended September 30, 2015 and 2014 totaled $1.1 million and $1.1 million, respectively. Compensation expense associated with restricted stock awards and deferred stock awards recognized in the nine month periods ended September 30, 2015 and 2014 totaled $3.2 million and $2.9 million, respectively. The total fair value of restricted stock awards and deferred stock awards that vested during the three months ended September 30, 2015 and 2014 was de minimis. The total fair value of restricted stock awards and deferred stock awards that vested during the nine months ended September 30, 2015 and 2014 was $0.9 million and $2.5 million.

At September 30, 2015, unrecognized compensation cost related to restricted stock awards and deferred stock awards was $8.1 million, which is expected to be recognized over a weighted average period of 2.6 years.

Phantom Share

Awards

On February 11, 2015, we granted 517,145 awards under the Civeo Plan, which vest in four equal annual installments beginning on February 11, 2016. We also granted 1,169,193 awards under the Canadian Long-Term Incentive Plan, which vest in three equal annual installments beginning on February 11, 2016. During the second quarter 2015, we granted an additional 192,876 awards under the Canadian Long-Term Incentive Plan.

Because of the decline in our stock price from June 30, 2014 to September 30, 2014, and June 30, 2015 to September 30, 2015, and because we remeasure these awards at each reporting date, we recognized income associated with phantom shares during the three month periods ended September 30, 2015 and 2014 totaling $0.0 million and $0.3 million, respectively. During the nine month periods ended September 30, 2015 and 2014, we recognized compensation expense associated with phantom shares totaling $0.8 million and $5.1 million, respectively. At September 30, 2015, unrecognized compensation cost related to phantom shares was $2.3 million, as remeasured at September 30, 2015, which is expected to be recognized over a weighted average period of 2.7 years.

Note 12 - Segment and Related Information

9 Months Ended

Sep. 30, 2015

Segment Reporting Disclosure [Text Block]

12.	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: Canadian, Australian and U.S., which represent our strategic focus on workforce accommodations.

Financial information by business segment for each of the three and nine months ended September 30, 2015 and 2014 is summarized in the following table (in thousands):

	Total Revenues			Less: Intersegment Revenues			Revenues from unaffiliated customers		Depreciation and amortization			Operating income (loss)			Capital expenditures			Total assets
Three months ended September 30 , 201 5
Canada	$	71,500		$	--		$	71,500	$	20,573		$	(70,909	)	$	13,390		$	616,675
Australia		29,177			--			29,177		12,166			(25,995	)		3,135			416,033
United States		5,867			--			5,867		3,296			(24,916	)		918			84,111
Corporate, stand-alone adjustments and eliminations		--			--			--		137			(1,020	)		2,156			982
Total	$	106,544		$	--		$	106,544	$	36,172		$	(122,840	)	$	19,599		$	1,117,801

Three months ended September 30 , 2014
Canada	$	174,111		$	--		$	174,111	$	24,210		$	43,277		$	55,563		$	1,056,435
Australia		54,000			--			54,000		16,451			10,520			7,052			900,423
United States		24,896			(9,742	)		15,154		5,107			(1,236	)		3,979			195,725
Corporate, stand-alone adjustments and eliminations		(9,742	)		9,742			--		(10	)		(6,564	)		36			35,536
Total	$	243,265		$	--		$	243,265	$	45,758		$	45,997		$	66,630		$	2,188,119

Nine months ended September 30 , 201 5
Canada	$	278,472		$	--		$	278,472	$	70,548		$	(62,609	)	$	28,956		$	616,675
Australia		109,304			--			109,304		39,878			(24,150	)		8,270			416,033
United States		35,298			(2,396	)		32,902		10,370			(33,611	)		2,164			84,111
Corporate, stand-alone adjustments and eliminations		(2,396	)		2,396			--		363			(11,731	)		4,311			982
Total	$	420,678		$	--		$	420,678	$	121,159		$	(132,101	)	$	43,701		$	1,117,801

Nine months ended September 30 , 2014
Canada	$	511,219		$	(305	)	$	510,914	$	65,551		$	110,743		$	187,397		$	1,056,435
Australia		163,847			--			163,847		47,537			26,158			14,632			900,423
United States		97,581			(49,145	)		48,436		14,756			(6,664	)		9,661			195,725
Corporate, stand-alone adjustments and eliminations		(49,450	)		49,450			--		(74	)		(15,154	)		(3,393	)		35,536
Total	$	723,197		$	--		$	723,197	$	127,770		$	115,083		$	208,297		$	2,188,119

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Note 13 - Parent Company Investment

9 Months Ended

Sep. 30, 2015

PARENT COMPANY INVESTMENT

The combined financial statements have been prepared on a stand-alone basis and are derived from the consolidated financial statements and accounting records of Oil States.

All intercompany transactions between the combined operations have been eliminated. All affiliate transactions between Civeo and Oil States have been included in these combined financial statements. The total net effect of the settlement of these affiliate transactions is reflected in the combined balance sheets as “Oil States International, Inc. Net Investment.”

Parent Company Services Provided and Corporate Allocations

Prior to the Spin-Off, Oil States provided services to and funded certain expenditures of Civeo. The most significant of these services and expenditures were: (1) funding expenditures to settle domestic accounts payable; (2) funding and processing of domestic payroll; (3) share-based compensation; and (4) certain transaction-related expenditures. The consolidated financial statements of Civeo reflect these expenditures. During the three months ended September 30, 2014, no expenditures for services received from Oil States or funding for expenditures provided by Oil States were included in the consolidated financial statements. During the nine months ended September 30, 2014, $41.7 million of expenditures for services received from Oil States or funding for expenditures provided by Oil States were included in the consolidated financial statements.

Prior to the Spin-Off, the consolidated statements of operations also include general corporate expense allocations, which include costs incurred by Oil States for certain corporate functions such as executive management, finance, information technology, tax, internal audit, risk management, legal, human resources and treasury. During the three months ended September 30, 2014, we were not allocated any amounts in respect of these corporate expenses which would have been included within selling, general and administrative expenses in the consolidated statements of operations. During the nine months ended September 30, 2014, we were allocated $2.8 million in respect of these corporate expenses which are included within selling, general and administrative expenses in the consolidated statements of operations.

Oil States Net Investment

Net transfers to Oil States are included within Oil States net investment on the consolidated balance sheets. The components of the change in Oil States net investment for the nine months ended September 30, 2014 are as follows (in thousands):

	201 4
Cash transfers and general financing activities	$	(13,255	)
Services received or funding for expenditures		41,725
Corporate allocations, including income tax provision (1)		3,950
Net increase in Oil States net investment	$	32,420

(1)

Corporate allocations includes the general corporate expense allocations of $2.8 million for the nine months ended September 30, 2014, the impact of the income tax provision, the allocation of corporate insurance premiums, and the attribution of certain assets and liabilities that have historically been held at the Oil States corporate level, but which are specifically identifiable or otherwise allocable to us. The attributed assets and liabilities are included in Civeo’s combined balance sheets.

Basis of Accounting, Policy [Policy Text Block]

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

Basis of Presentation

All financial information presented after the Spin-Off represents the consolidated results of operations, financial position and cash flows of Civeo. Accordingly:

Our consolidated statements of operations

and comprehensive income (loss) for the three months ended September 30, 2014 consist entirely of the consolidated results of Civeo. Our consolidated statements of operations

Our consolidated statements of operations

Our consolidated balance sheets at September 30, 2015 and December 31, 2014 consist of the consolidated balances of Civeo.

Note 4 - Details of Selected Balance Sheet Accounts (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	September 30, 2015			December 31, 201 4
Accounts receivable, net:
Trade	$	44,923		$	124,198
Unbilled revenue		18,752			38,487
Other		1,052			1,611
Total accounts receivable		64,727			164,296
Allowance for doubtful accounts		(1,046	)		(4,043	)
Total accounts receivable, net	$	63,681		$	160,253

Schedule of Inventory, Current [Table Text Block]

	September 30, 2015		December 31, 2014
Inventories:
Finished goods and purchased products	$	2,054	$	2,814
Work in process		209		4,790
Raw materials		3,344		5,624
Total inventories	$	5,607	$	13,228

Property, Plant and Equipment [Table Text Block]

	Estimated Useful Life (in years)				September 30, 2015			December 31, 2014
Property, plant and equipment, net:
Land					$	48,174		$	55,365
Accommodations assets		3	-	15		1,485,487			1,687,033
Buildings and leasehold improvements		3	-	20		29,357			40,256
Machinery and equipment		4	-	15		9,552			12,117
Office furniture and equipment		3	-	7		28,844			32,181
Vehicles		3	-	5		16,396			19,128
Construction in progress						77,662			70,603
Total property, plant and equipment						1,695,472			1,916,683
Accumulated depreciation						(744,830	)		(668,253	)
Total property, plant and equipment, net					$	950,642		$	1,248,430

Schedule of Accrued Liabilities [Table Text Block]

	September 30, 201 5		December 31, 201 4
Accrued liabilities:
Accrued compensation	$	13,235	$	15,273
Accrued taxes, other than income taxes		1,075		1,567
Accrued interest		11		60
Other		2,721		5,612
Total accrued liabilities	$	17,042	$	22,512

Note 5 - Assets Held for Sale (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure of Long Lived Assets Held-for-sale [Table Text Block]

	September 30,
	201 5
Assets held for sale:
Property, plant and equipment, net	$	8,146
Intangible assets, net		777
Total assets held for sale	$	8,923

Note 6 - Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	THREE MONTHS ENDED						NINE MONTHS ENDED
	SEPTEMBER 30,						SEPTEMBER 30,
	2015			2014			2015			2014
Basic Earnings per Share
Net income (loss) attributable to Civeo	$	(107,685	)	$	32,403		$	(121,162	)	$	82,591
Less: undistributed net income (loss) to participating securities		--			(173	)		--			(385	)
Net income (loss) attributable to Civeo	$	(107,685	)	$	32,230		$	(121,162	)	$	82,206
Weighted average common shares outstanding - basic		106,661			106,311			106,583			106,300
Basic earnings (loss) per share	$	(1.01	)	$	0.30		$	(1.14	)	$	0.77

Diluted Earnings per Share
Net income (loss) attributable to Civeo’s common shareholders	$	(107,685	)	$	32,230		$	(121,162	)	$	82,206

Weighted average common shares outstanding - basic		106,661			106,311			106,583			106,300
Effect of dilutive securities		--			184			--			174
Weighted average common shares outstanding - diluted		106,661			106,495			106,583			106,474

Diluted earnings (loss) per share	$	(1.01	)	$	0.30		$	(1.14	)	$	0.77

Note 7 - Debt (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Long-term Debt Instruments [Table Text Block]

	September 30, 2015		December 31, 2014
U.S. term loan, which matures on May 28, 2019; 1.25% of aggregate principal repayable per quarter beginning December 31, 2015; weighted average interest rate of 2.6% for the nine month period ended September 30, 2015	$	50,000	$	775,000

Canadian term loan, which matures on May 28, 2019; 1.25% of aggregate principal repayable per quarter beginning December 31, 2015; weighted average interest rate of 3.6% for the nine month period ended September 30, 2015		314,104		--

U.S. revolving credit facility, which matures on May 28, 2019, with available commitments up to $50.0 million; no borrowings outstanding as of September 30, 2015		--		--

Canadian revolving credit facility, which matures on May 28, 2019, with available commitments up to $125.0 million; weighted average interest rate of 3.8% for the nine month period ended September 30, 2015		46,289		--

Canadian revolving credit facility, which matures on May 28, 2019, with available commitments up to $100.0 million; weighted average interest rate of 4.5% for the nine month period ended September 30, 2015		2,987		--

Australian revolving credit facility, which matures on May 28, 2019, with available commitments up to $100.0 million; weighted average interest rate of 4.9% for the nine month period ended September 30, 2015ng the nine month period ended September 30, 2015		2,704		--
Total debt		416,084		775,000
Less: Current portion of long-term debt		18,205		19,375
Long-term debt, less current maturities	$	397,879	$	755,625

Schedule Of Changes In Maximum Leverage Ratio [Table Text Block]

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 56.2%; TEXT-INDENT: 0px;; width: 700px;" cellspacing="0" cellpadding="0" align="center" border="0"> <tr> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: bottom"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-weight: bold;">Period Ended</div></div></div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-weight: bold;">Maximum Leverage </div></div></div></div> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-weight: bold;">Ratio</div></div></div></div></td> </tr> <tr> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top"> </td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top"> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30, 2015</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.50 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">December 31, 2015</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.00 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March 31, 2016</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.25 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">June 30, 2016</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.50 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30, 2016</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.50 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">December 31, 2016</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.50 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March 31, 2017</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.25 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">June 30, 2017</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.25 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30, 2017</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.00 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">December 31, 2017</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4.00 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March 31, 2018</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.75 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #ffffff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">June 30, 2018</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.75 : 1.00</div></div></td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="WIDTH: 59.8%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30, 2018 & thereafter</div></div></td> <td style="WIDTH: 40.2%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.50 : 1.00</div></div></td> </tr> </table></div>

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Note 12 - Segment and Related Information (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Total Revenues			Less: Intersegment Revenues			Revenues from unaffiliated customers		Depreciation and amortization			Operating income (loss)			Capital expenditures			Total assets
Three months ended September 30 , 201 5
Canada	$	71,500		$	--		$	71,500	$	20,573		$	(70,909	)	$	13,390		$	616,675
Australia		29,177			--			29,177		12,166			(25,995	)		3,135			416,033
United States		5,867			--			5,867		3,296			(24,916	)		918			84,111
Corporate, stand-alone adjustments and eliminations		--			--			--		137			(1,020	)		2,156			982
Total	$	106,544		$	--		$	106,544	$	36,172		$	(122,840	)	$	19,599		$	1,117,801

Three months ended September 30 , 2014
Canada	$	174,111		$	--		$	174,111	$	24,210		$	43,277		$	55,563		$	1,056,435
Australia		54,000			--			54,000		16,451			10,520			7,052			900,423
United States		24,896			(9,742	)		15,154		5,107			(1,236	)		3,979			195,725
Corporate, stand-alone adjustments and eliminations		(9,742	)		9,742			--		(10	)		(6,564	)		36			35,536
Total	$	243,265		$	--		$	243,265	$	45,758		$	45,997		$	66,630		$	2,188,119

Nine months ended September 30 , 201 5
Canada	$	278,472		$	--		$	278,472	$	70,548		$	(62,609	)	$	28,956		$	616,675
Australia		109,304			--			109,304		39,878			(24,150	)		8,270			416,033
United States		35,298			(2,396	)		32,902		10,370			(33,611	)		2,164			84,111
Corporate, stand-alone adjustments and eliminations		(2,396	)		2,396			--		363			(11,731	)		4,311			982
Total	$	420,678		$	--		$	420,678	$	121,159		$	(132,101	)	$	43,701		$	1,117,801

Nine months ended September 30 , 2014
Canada	$	511,219		$	(305	)	$	510,914	$	65,551		$	110,743		$	187,397		$	1,056,435
Australia		163,847			--			163,847		47,537			26,158			14,632			900,423
United States		97,581			(49,145	)		48,436		14,756			(6,664	)		9,661			195,725
Corporate, stand-alone adjustments and eliminations		(49,450	)		49,450			--		(74	)		(15,154	)		(3,393	)		35,536
Total	$	723,197		$	--		$	723,197	$	127,770		$	115,083		$	208,297		$	2,188,119

Note 13 - Parent Company Investment (Tables)

9 Months Ended

Sep. 30, 2015

Condensed Cash Flow Statement [Table Text Block]

	201 4
Cash transfers and general financing activities	$	(13,255	)
Services received or funding for expenditures		41,725
Corporate allocations, including income tax provision (1)		3,950
Net increase in Oil States net investment	$	32,420

Note 1 - Description of Business and Basis of Presentation (Details Textual) $ in Thousands				1 Months Ended	9 Months Ended
	Jul. 17, 2015 shares	May 28, 2014 USD ($)	May 21, 2014	May 30, 2014 shares	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	May 05, 2014
Spinoff [Member] \| Common Stock, Civeo [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio			2
Spinoff [Member] \| Common Stock, Oil States [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio			1
Spinoff [Member] \| Cash [Member]
Payments of Distributions to Affiliates		$ 750,000
Spinoff [Member]
Stock Issued During Period, Shares, New Issues \| shares				106,538,044
Civeo Canada [Member]
Common Stock Conversion Ratio	1
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued \| shares	107,500,000
Revolving Credit Facility [Member] \| Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 650,000
Revolving Credit Facility [Member]
Debt Instrument, Term		5 years
Credit Facility [Member] \| US Term Loan [Member]
Debt Instrument, Face Amount		$ 775,000
Credit Facility [Member]
Debt Instrument, Face Amount		$ 1,400,000
US Term Loan [Member]
Debt Instrument, Term		5 years
Number of Reportable Segments					3
Number of Companies Separated in Spin-off							2
Payments of Distributions to Affiliates						$ 750,000
Substantial Business Activity Threshold	25.00%
Approximate Percentage of Operations in Canada	50.00%

Note 2 - Recent Accounting Pronouncements (Details Textual) $ in Millions	Sep. 30, 2015 USD ($)
Prepaid Expenses and Other Current Assets [Member]
Unamortized Debt Issuance Expense	$ 2.6
Other Noncurrent Assets [Member]
Unamortized Debt Issuance Expense	7.3
Unamortized Debt Issuance Expense	$ 9.9

Note 3 - Fair Value Measurements (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Canadian Segment [Member]
Goodwill	$ 0	$ 0
Goodwill, Impairment Loss	43,200,000
Asset Impairment Charges	11,100,000
US and Australian Segments [Member]
Impairment of Intangible Assets (Excluding Goodwill)		2,500,000
Asset Impairment Charges	65,000,000	77,200,000
Impairment of Intangible Assets (Excluding Goodwill)	$ 2,500,000
Goodwill				$ 45,260,000
Asset Impairment Charges		$ 122,926,000	$ 11,610,000

Note 4 - Details of Selected Balance Sheet Accounts (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
US Segment [Member] \| Reduced The Value of Amortizable Intangible Assets [Member]
Impairment of Intangible Assets (Excluding Goodwill)	$ 2,500,000
US Segment [Member]
Asset Impairment Charges	20,500,000
Australian Segment [Member]
Asset Impairment Charges	24,000,000
Canadian Segment [Member] \| Asset Impairment Fourth Quarter of 2014 [Member]
Asset Impairment Charges	11,900,000
Canadian Segment [Member]
Asset Impairment Charges	11,100,000
Kambalda [Member]
Asset Impairment Charges		$ 9,500,000
Asset Impairment Charges			$ 122,926,000	$ 11,610,000
Impairment of Intangible Assets (Excluding Goodwill)	$ 2,500,000

Note 4 - Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Trade Accounts Receivable [Member]
Accounts receivable, net:
Accounts Receivable, Gross, Current	$ 44,923	$ 124,198
Unbilled Revenue [Member]
Accounts receivable, net:
Accounts Receivable, Gross, Current	18,752	38,487
Other Receivable [Member]
Accounts receivable, net:
Accounts Receivable, Gross, Current	1,052	1,611
Accounts Receivable, Gross, Current	64,727	164,296
Allowance for doubtful accounts	(1,046)	(4,043)
Total accounts receivable, net	$ 63,681	$ 160,253

Note 4 - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventories:
Finished goods and purchased products	$ 2,054	$ 2,814
Work in process	209	4,790
Raw materials	3,344	5,624
Total inventories	$ 5,607	$ 13,228

Note 4 - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Land [Member]
Property, Plant, and Equipment, Gross	$ 48,174	$ 55,365
Accommodations Assets [Member] \| Minimum [Member]
Property, Plant, and Equipment, Useful Life	3 years
Accommodations Assets [Member] \| Maximum [Member]
Property, Plant, and Equipment, Useful Life	15 years
Accommodations Assets [Member]
Property, Plant, and Equipment, Gross	$ 1,485,487	1,687,033
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant, and Equipment, Useful Life	3 years
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant, and Equipment, Useful Life	20 years
Building and Building Improvements [Member]
Property, Plant, and Equipment, Gross	$ 29,357	40,256
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant, and Equipment, Useful Life	4 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant, and Equipment, Useful Life	15 years
Machinery and Equipment [Member]
Property, Plant, and Equipment, Gross	$ 9,552	12,117
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant, and Equipment, Useful Life	3 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant, and Equipment, Useful Life	7 years
Furniture and Fixtures [Member]
Property, Plant, and Equipment, Gross	$ 28,844	32,181
Vehicles [Member] \| Minimum [Member]
Property, Plant, and Equipment, Useful Life	3 years
Vehicles [Member] \| Maximum [Member]
Property, Plant, and Equipment, Useful Life	5 years
Vehicles [Member]
Property, Plant, and Equipment, Gross	$ 16,396	19,128
Construction in Progress [Member]
Property, Plant, and Equipment, Gross	77,662	70,603
Property, Plant, and Equipment, Gross	1,695,472	1,916,683
Accumulated depreciation	(744,830)	(668,253)
Total property, plant and equipment, net	$ 950,642	$ 1,248,430

Note 4 - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accrued liabilities:
Accrued compensation	$ 13,235	$ 15,273
Accrued taxes, other than income taxes	1,075	1,567
Accrued interest	11	60
Other	2,721	5,612
Total accrued liabilities	$ 17,042	$ 22,512

Note 5 - Assets Held for Sale (Details Textual) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Johnstown Facility [Member]
Disposal Group, Including Discontinued Operation, Assets, Current	$ 8,923,000	$ 8,700,000		$ 8,923,000
Impairment of Long-Lived Assets to be Disposed of		2,700,000
Inventory Write-down		$ 1,100,000
Depreciation	0		$ 200,000	200,000	$ 600,000
Disposal Group, Including Discontinued Operation, Assets, Current	8,923,000			8,923,000
Impairment of Long-Lived Assets to be Disposed of	$ 110,715,000			122,926,000	11,610,000
Inventory Write-down				$ 1,015,000

Note 5 - Summary of the Carrying Amount of Major Classes of Assets from Johnstown Facility Held for Sale (Details)	Sep. 30, 2015 USD ($)
Johnstown Facility [Member]
Property, plant and equipment, net	$ 8,146,000
Intangible assets, net	777,000
Total assets held for sale	8,923,000
Total assets held for sale	$ 8,923,000

Note 6 - Earnings Per Share (Details Textual)	May 30, 2014 shares
Spinoff [Member] \| Common Stock, Civeo [Member]
Common Stock, Shares, Issued	106,538,044

Note 6 - Calculation of Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic Earnings per Share
Net income (loss) attributable to Civeo	$ (107,685)	$ 32,403	$ (121,162)	$ 82,591
Less: undistributed net income (loss) to participating securities		(173)		(385)
Net income (loss) attributable to Civeo	$ (107,685)	$ 32,230	$ (121,162)	$ 82,206
Weighted average common shares outstanding - basic (in shares)	106,661	106,311	106,583	106,300
Basic earnings (loss) per share (in dollars per share)	$ (1.01)	$ 0.30	$ (1.14)	$ 0.77
Diluted Earnings per Share
Net income (loss) attributable to Civeo’s common shareholders	$ (107,685)	$ 32,230	$ (121,162)	$ 82,206
Weighted average common shares outstanding - basic (in shares)	106,661	106,311	106,583	106,300
Effect of dilutive securities (in shares)		184		174
Weighted average common shares outstanding - diluted (in shares)	106,661	106,495	106,583	106,474
Diluted earnings (loss) per share (in dollars per share)	$ (1.01)	$ 0.30	$ (1.14)	$ 0.77

Note 7 - Debt (Details Textual) $ in Thousands		3 Months Ended		9 Months Ended
Note 7 - Debt (Details Textual) $ in Thousands	Jul. 17, 2015 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)
New Canadian Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 125,000
US Revolving Credit Facility [Member] \| Amended Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	50,000
Canadian Credit Facility [Member] \| Amended Credit Facility [Member]
Debt Instrument, Face Amount	325,000
US Term Loan [Member] \| Amended Credit Facility [Member]
Repayment of Principal Provided	$ 725,000
Line of Credit [Member] \| Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| United States of America, Dollars
Debt Instrument, Basis Spread on Variable Rate	2.00%
Line of Credit [Member] \| Minimum [Member] \| Base Rate [Member] \| United States of America, Dollars
Debt Instrument, Basis Spread on Variable Rate	1.00%
Line of Credit [Member] \| Minimum [Member] \| Base Rate [Member] \| Canada, Dollars
Debt Instrument, Basis Spread on Variable Rate	1.00%
Line of Credit [Member] \| Minimum [Member] \| Canadian Dealer Offered Rate (CDOR) [Member] \| Canada, Dollars
Debt Instrument, Basis Spread on Variable Rate	2.00%
Line of Credit [Member] \| Minimum [Member] \| Bank Bill Swap Bid Rate (BBSY) [Member] \| Australia, Dollars
Debt Instrument, Basis Spread on Variable Rate	2.00%
Line of Credit [Member] \| Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| United States of America, Dollars
Debt Instrument, Basis Spread on Variable Rate	4.00%
Line of Credit [Member] \| Maximum [Member] \| Base Rate [Member] \| United States of America, Dollars
Debt Instrument, Basis Spread on Variable Rate	3.00%
Line of Credit [Member] \| Maximum [Member] \| Base Rate [Member] \| Canada, Dollars
Debt Instrument, Basis Spread on Variable Rate	3.00%
Line of Credit [Member] \| Maximum [Member] \| Canadian Dealer Offered Rate (CDOR) [Member] \| Canada, Dollars
Debt Instrument, Basis Spread on Variable Rate	4.00%
Line of Credit [Member] \| Maximum [Member] \| Bank Bill Swap Bid Rate (BBSY) [Member] \| Australia, Dollars
Debt Instrument, Basis Spread on Variable Rate	4.00%
Amended Credit Facility [Member] \| Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Amended Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.45%
Amended Credit Facility [Member] \| Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	4.00%
Amended Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.90%
Amended Credit Facility [Member]
Debt Instrument, Interest Rate, Increase (Decrease)	0.25%
Minimum [Member]
Line of Credit Facility, Current Borrowing Capacity	$ 1,600
Maximum [Member]
Line of Credit Facility, Current Borrowing Capacity	$ 143,200
Interest Costs Capitalized		$ 500	$ 800	$ 1,200	$ 2,100
Gains (Losses) on Extinguishment of Debt		$ (1,474)		$ (1,474)	$ (3,455)
Interest Coverage Ratio	3
Leverage Ratio	3.5
Number of Lenders	15

Note 7 - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
US Term Loan [Member]
Term loan	$ 50,000	$ 775,000
Canadian Term Loan [Member]
Term loan	314,104
Canadian Credit Facility 1 [Member]
Revolving credit facility, borrowings outstanding	46,289
Canadian Credit Facility 2 [Member]
Revolving credit facility, borrowings outstanding	2,987
Australian Credit Facility [Member]
Revolving credit facility, borrowings outstanding	2,704
Total debt	416,084	775,000
Less: Current portion of long-term debt	18,205	19,375
Long-term debt, less current maturities	$ 397,879	$ 755,625

Note 7 - Long-term Debt (Details) (Parentheticals) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
US Term Loan [Member]
Term loan, matures	May 28, 2019	May 28, 2019
Term loan, interest rate	1.25%	1.25%
Term loan, weighted-average interest rate	2.60%	2.60%
Canadian Term Loan [Member]
Term loan, matures	May 28, 2019	May 28, 2019
Term loan, interest rate	1.25%	1.25%
Term loan, weighted-average interest rate	3.60%	3.60%
Canadian Credit Facility 1 [Member]
Maturity date	May 28, 2019	May 28, 2019
Line of Credit Facility, Maximum Borrowing Capacity	$ 125	$ 125
Line of Credit Facility, Interest Rate	3.80%
Canadian Credit Facility 2 [Member]
Maturity date	May 28, 2019	May 28, 2019
Line of Credit Facility, Maximum Borrowing Capacity	$ 100	$ 100
Line of Credit Facility, Interest Rate	4.50%
Australian Credit Facility [Member]
Maturity date	May 28, 2019	May 28, 2019
Line of Credit Facility, Maximum Borrowing Capacity	$ 100	$ 100
Line of Credit Facility, Interest Rate	4.90%

Note 7 - Changes to Maximum Leverage Ratio (Details)	Jun. 17, 2015
As of September 30, 2015 [Member]
Leverage Ratio	3.5
As of December 31, 2015 [Member]
Leverage Ratio	4
March 31, 2016 [Member]
Leverage Ratio	4.25
June 30, 2016 [Member]
Leverage Ratio	4.5
September 30, 2016 [Member]
Leverage Ratio	4.5
December 31, 2016 [Member]
Leverage Ratio	4.5
March 31, 2017 [Member]
Leverage Ratio	4.25
June 30, 2017 [Member]
Leverage Ratio	4.25
September 30, 2017 [Member]
Leverage Ratio	4
December 31, 2017 [Member]
Leverage Ratio	4
March 31, 2018 [Member]
Leverage Ratio	3.75
June 30, 2018 [Member]
Leverage Ratio	3.75
September 30, 2018 & Thereafter [Member]
Leverage Ratio	3.5

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Foreign Tax Authority [Member]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount			$ 12,000
Minimum [Member]
Contingent Change in Liability for Uncertain Tax Positions	$ 8,000		8,000
Maximum [Member]
Contingent Change in Liability for Uncertain Tax Positions	$ 2,000		$ 2,000
Statutory Tax Rate, Foreign and Domestic, Minimum	25.00%		25.00%
StatutoryTaxRateForeignAndDomesticMaximum	35.00%		35.00%
Income Tax Expense (Benefit)	$ (22,745)	$ 9,011	$ (27,451)	$ 16,411
Effective Income Tax Rate Reconciliation, Percent	17.50%	21.60%	18.60%	16.40%
Effective Income Tax Rate Reconciliation, Tax Contingency, Foreign, Amount			$ 10,000
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount			2,700
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability			$ 20,000

Note 10 - Accumulated Other Comprehensive Loss (Details Textual) $ in Thousands, $ in Billions, $ in Billions	Sep. 30, 2015 CAD ($)	Sep. 30, 2015 AUD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax			$ (171,400)
Accumulated Other Comprehensive Income (Loss), Net of Tax			$ (369,952)	$ (198,491)
Translation Adjustment Functional to Reporting Currency, Net of Tax	$ 0.2	$ 0.5