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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2018	Jul. 23, 2018
Document Information [Line Items]
Entity Registrant Name	Civeo Corp
Entity Central Index Key	0001590584
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	2018
Document Fiscal Period Focus	Q2
Amendment Flag	false

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 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)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

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 (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 (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 Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Preferred 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

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

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 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 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

of the largest integrated providers of workforce accommodations, logistics and facility management services to the natural resource industry. Our scalable modular facilities provide long-term and temporary accommodations where traditional accommodations and related 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 our customers’ employees and contractors 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 – Canada, Australia and U.S.

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

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

-K for the year ended

December 31, 2017.

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

yet effective, will

not

have a material impact on our consolidated financial statements upon adoption.

January 2017,

the FASB issued Accounting Standards Update (ASU)

2017

01,

“Business Combinations (Topic

805

): Clarifying the Definition of a Business” which changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. ASU

2017

requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is

not

a business. The standard is effective for interim and annual reporting periods beginning after

December 15, 2017.

Effective with our quarterly report on Form

-Q for the quarter ended

March 31, 2018,

we have adopted this standard effective

January 1, 2018.

June 2016,

the FASB issued ASU

2016

13,

“Financial Instruments – Credit Losses” (ASU

2016

). This new standard changes how companies will measure credit losses for most financial assets and certain other instruments that are

not

measured at fair value through net income. ASU

2016

is effective for financial statements issued for reporting periods beginning after

December 15, 2019

and interim periods within the reporting periods. We are currently evaluating the impact of this new standard on our consolidated financial statements.

February 2016,

the FASB issued ASU

2016

02,

“Leases” (Topic

842

), which replaces the existing guidance for lease accounting, Leases (Topic

840

). ASU

2016

requires lessees to recognize a lease liability and a right-of-use asset for all leases with terms longer than

months. The guidance is effective for financial statements issued for reporting periods beginning after

December 15, 2018

and interim periods within the reporting periods. An entity will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. We are currently evaluating the impact of this new standard on our consolidated financial statements. We have finalized our implementation plan and are in the process of analyzing our lease portfolio.

May 2014,

the FASB issued ASU

2014

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 and interim reporting periods beginning after

December 15, 2017.

Effective with our quarterly report on Form

-Q for the quarter ended

March 31, 2018,

we have adopted this standard effective

January 1, 2018

using the modified retrospective method as applied to customer contracts that were

not

completed as of

January 1, 2018.

As a result, financial information for reporting periods beginning after

January 1, 2018

is presented under ASC

606,

while comparative financial information has

not

been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for revenue recognition prior to the adoption of ASC

606.

Upon adoption of this standard, we recognized a cumulative effect adjustment of

$0.4

million to accumulated deficit in the accompanying unaudited consolidated balance sheet as of

June 30, 2018.

We expect the impact of the adoption of the new standard to be immaterial to our consolidated financial statements on an ongoing basis.

Note 3 - Revenue

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

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

vary over the contract term. In these cases, revenue

may

be deferred and recognized on a straight-line basis over the contract term. A limited portion of our revenue is recognized at a point in time when control transfers to the customer related to small modular construction and manufacturing contracts, minor catering arrangements and optional purchases our customers make for incidental services offered at our accommodation and mobile facilities.

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

result in revisions to projected costs and revenue and are recognized in the period in which the revisions to estimates are identified and the amounts can be reasonably estimated. Factors that

may

affect future project costs and margins include weather, production efficiencies, availability and costs of labor, materials and subcomponents. These factors can significantly impact the accuracy of our estimates and materially impact our future reported earnings.

The following table disaggregates our revenue by our

three

reportable segments: Canada, Australia and U.S., and major categories for the periods indicated (in thousands):

	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

years. Our contract terms generally provide for a rental rate for a reserved room and an occupied room rate that compensates us for services provided. We typically contract our facilities to our customers on a fee per day basis where the goods and services promised include lodging and meals. To identify the performance obligations, we consider all of the goods and services promised in the context of the contract and the pattern of transfer to our customers.

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

significant. Payment terms are generally within

days. We do

not

have significant financing components or significant payment terms.

Revenues exclude taxes assessed based on revenues such as sales or value added taxes.

As of

June 30, 2018,

for contracts that are greater than

one

year, the table below discloses the estimated revenues related to performance obligations that are unsatisfied (or partially unsatisfied) and when we expect to recognize the revenue (in thousands):

	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 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

and

December 31, 2017,

we believe the carrying value of our floating-rate debt outstanding under our term loans and revolving credit facilities approximates fair value because the terms include short-term interest rates and exclude penalties for prepayment. We estimated the fair value of our floating-rate term loan and revolving credit facilities using significant other observable inputs, representative of a Level

fair value measurement, including terms and credit spreads for these loans.

During the

first

quarter of

2018,

we wrote down certain long-lived assets to fair value. Our estimates of fair value required us to use significant unobservable inputs, representative of Level

fair value measurements, including numerous assumptions with respect to future circumstances that might directly impact each of the relevant asset groups’ operations in the future and are therefore uncertain. These assumptions with respect to future circumstances included future oil, coal and natural gas prices, anticipated spending by our customers, the cost of capital, and industry and/or local market conditions. Please see Note

– Impairment Charges for further information.

During the

first

and

second

quarter of

2018,

we acquired certain assets and businesses and recorded them at fair value. Determining the fair value of assets acquired and liabilities assumed requires the exercise of significant judgment, including the amount and timing of expected future cash flows, long-term growth rates and discount rates. The cash flows employed in the valuation are based on our best estimates of future sales, earnings and cash flows after considering factors such as general market conditions, expected future customer orders, contracts with suppliers, labor costs, changes in working capital, long term business plans and recent operating performance. Please see Note

– Acquisitions for further information.

- Definition

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 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

and

December 31, 2017

is presented below (in thousands):

	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

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Asset Impairment Charges [Text Block]

6.	IMPAIRMENT CHARGES

Quarter ended

March 31,

201

During the

first

quarter of

2018,

we identified an indicator that certain assets used in the Canadian oil sands

may

be impaired due to market developments, including expected customer commitments, occurring in the

first

quarter of

2018.

For purposes of our impairment assessment, we separated

two

lodges that were previously treated as a single asset group due to the lodges

longer being used together to generate joint cash flows. 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 fully recoverable, and we proceeded to compare the estimated fair value of the asset group to its respective carrying value. Accordingly, the value of a Canadian lodge was written down to its estimated fair value of

zero

. As a result of the analysis described above, we recorded an impairment expense of

$28.7

million.

Note 7 - Acquisitions

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Business Combination Disclosure [Text Block]

7.	ACQUISITIONS

Noralta

Description of Transaction

. On

April 2, 2018,

we acquired the equity of Noralta Lodge Ltd. (Noralta), located in Alberta, Canada (the Noralta Acquisition). The total consideration, which is subject to adjustment in accordance with the terms of the definitive agreement, included (i)

C$207.7

million (or approximately

US$161.1

million) in cash, of which

C$43.5

million is held in escrow by Alliance Trust Company (the Escrow Agent) to support the sellers’ indemnification obligations under the definitive agreement and certain obligations of the sellers to compensate us for certain increased employee compensation costs that are expected to be incurred as a result of the recent union certification of certain classes of Noralta employees, (ii)

32.8

million of our common shares, of which (a)

13.5

million shares are held in escrow by the Escrow Agent and will be released based on certain conditions related to Noralta customer contracts remaining in place and (b)

2.4

million shares are held in escrow by the Escrow Agent and will be released based on the employee compensation cost increases described above, and (iii)

9,679

Class A Series

Preferred Shares (the Preferred Shares) with an initial liquidation preference of

$96.8

million, of which

692

shares are held in escrow by the Escrow Agent and will be released based on the employee compensation cost increases described above. As a result of the Noralta Acquisition, we expanded our existing accommodations business in the Canadian oil sands market. We funded the cash consideration with cash on hand and borrowings under the Amended Credit Agreement (as defined in Note

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,

the date of acquisition. During the

three

and

six

months ended

June 30, 2018,

we recorded approximately

$32.0

million of revenue and

$13.1

million of gross margin in the accompanying unaudited consolidated statements of operations related to the Noralta Acquisition.

Calculation of Purchase Consideration

. The total purchase consideration received by the Noralta shareholders was based on the cash consideration and fair value of our common shares and Preferred Shares issued on

April 2, 2018.

The purchase consideration below reflects the fair value of common shares issued, which is based on the closing price on

March 29, 2018 (

the last business day prior to

April 2, 2018)

of our common shares of

$3.77

per share and the estimated fair value of Preferred Shares issued, which are valued at

61%

of the initial liquidation preference of the Preferred Shares of

$96.79

million.

A portion of the consideration paid,

$11.6

million cash,

2.4

million common shares and

692

Preferred Shares, is currently being held in escrow to support certain obligations of the sellers to compensate us for certain increased employee compensation costs that are expected to be incurred as a result of the recent union certification of certain classes of Noralta employees. As of

April 2, 2018,

we expected the escrowed amounts to be released to us within

months, and therefore, a receivable of

$11.6

million related to the cash expected to be released has been established. Additionally,

fair value has been allocated to such common share or Preferred Shares portion of the consideration.

The purchase consideration and estimated fair value of Noralta’s net assets acquired as of

April 2, 2018

is presented as follows:

(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

million. The beneficial conversion feature was recorded as an increase to additional paid-in capital with the offset recorded as a discount on the Preferred Shares. For further discussion of the Preferred Shares, including dividends on the Preferred Shares, please see Note

– Preferred Shares.

Purchase Price Allocation.

The application of purchase accounting under ASC

805

requires that the total purchase price be allocated to the fair value of assets acquired and liabilities assumed based on their fair values at

April 2, 2018,

with amounts exceeding the fair values being recorded as goodwill. The allocation process requires an analysis of acquired fixed assets, contracts, and contingencies to identify and record the fair value of all assets acquired and liabilities assumed. Our allocation of the purchase price to specific assets and liabilities is based, in part, upon outside appraisals using customary valuation procedures and techniques. The purchase price allocation is preliminary, as we are finalizing our valuation of tangible and intangible assets acquired. We expect to complete our purchase price allocation by the end of

2018.

However, the differences between the final and preliminary purchase price allocations, if any, are

not

expected to have a material effect on our financial position or results of operations. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at

April 2, 2018 (

in thousands):

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

(

)

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

expected to be deductible for tax purposes. The fair value of the assets acquired and liabilities assumed were determined using income, market and cost valuation methodologies. The fair value measurements were estimated using significant inputs that are

not

observable in the market and thus represent a Level

measurement. Fair values of property, plant and equipment, excluding land, were determined using the cost approach. The cost approach estimates value by determining the current cost of replacing an asset with another of equivalent economic utility. The cost to replace a given asset reflects the estimated reproduction or replacement cost for the asset, less an allowance for loss in value due to depreciation. Fair values of land were determined using the market approach. The market approach is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable assets. The income approach was used to value the intangible assets, consisting primarily of customer contracts, trade name and favorable/unfavorable lease contracts. The income approach indicates value for an asset or liability based on present value of cash flows projected to be generated over the remaining economic life of the asset or liability being measured. Projected cash flows are discounted at a required market rate of return that reflects the relative risk of achieving the cash flows and the time value of money.

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

major investment grade oil sands producers which are subject to amortization over an estimated useful life of

years at the time of acquisition. The trade name was assigned to Noralta’s name recognition with an estimated useful life of

months at the time of acquisition. The favorable/unfavorable intangible contracts are related to leases that will be amortized over the remaining lease terms, which range from

3.8

years to

9.3

years at the time of acquisition. The unfavorable contracts are included in other noncurrent liabilities in the accompanying unaudited consolidated balance sheet.

Supplemental Pro Forma Financial Information.

The following unaudited pro forma supplemental financial information presents the consolidated results of operations of the Company and Noralta as if the Noralta Acquisition had occurred on

January 1, 2017.

We have adjusted historical financial information to give effect to pro forma items that are directly attributable to the Noralta Acquisition and are expected to have a continuing impact on the consolidated results. These items include adjustments to record the incremental amortization and depreciation expense related to the increase in fair values of the acquired assets, interest expense related to borrowings under the Amended Credit Agreement to fund the Noralta Acquisition and to reclassify certain items to conform to our financial reporting presentation. However, pro forma results do

not

include any anticipated cost savings or other effects of the planned integration of Noralta. The unaudited pro forma results do

not

purport to be indicative of the results of operations had the transaction occurred on the date indicated or of future results for the combined entities (in thousands, except per share data):

	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.

During the

three

months ended

June 30, 2018,

we recognized

$5.6

million of costs in connection with the Noralta Acquisition that are included in Service and other costs (

$0.2

million) and Selling, general and administrative (SG&A) expenses (

$5.4

million), respectively. During the

six

months ended

June 30, 2018,

we recognized

$6.6

million of costs in connection with the Noralta Acquisition that are included in Service and other costs (

$0.2

million) and SG&A expenses (

$6.4

million).

Acadian Acres

February 28, 2018,

we acquired the assets of Lakeland, L.L.C. (Lakeland), located near Lake Charles, Louisiana, for total consideration of

$28.0

million, composed of

$23.5

million in cash and

$4.5

million of our common shares. The asset purchase agreement also includes potential future earn-out payments through

December 2020

of up to

1.2

million Civeo common shares, based upon satisfaction of certain future revenue targets. The acquisition included a

400

room accommodations facility,

acres of land and related assets. We funded the cash consideration with cash on hand. Lakeland’s operations are reported as a new open camp location, Acadian Acres, in our U.S. reportable business segment.

Intangible assets acquired in the Acadian Acres acquisition totaled

$8.2

million and consisted of a customer contract. The customer contract intangible is being amortized over the remaining contract term, which was

months at the time of acquisition.

This acquisition was accounted for as an asset acquisition based on the principles described in ASC

805,

which provides a screen to determine when a set of transferred assets is

not

a business. The screen requires that when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similarly identifiable assets, the set of transferred assets is

not

a business. Accordingly, we allocated the excess consideration over the fair value of the assets acquired to the acquired assets, pro rata, on the basis of relative fair values to increase the related assets acquired.

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

quarter of

2017,

we made the decision to dispose of our modular construction and manufacturing plant near Edmonton, Alberta, Canada due to changing geographic and market needs. Accordingly, the facility met the criteria of held for sale. Its estimated fair value less the cost to sell exceeded its carrying value. Additionally, we have discontinued depreciation of the facility. Depreciation expense related to the facility totaled approximately

$0.1

million and

$0.3

million during the

three

and

six

months ended

June 30, 2017,

respectively. The facility is part of our Canadian reportable business segment.

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

million.

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

million and was the same value used in the purchase price allocation.

The following table summarizes the carrying amount as of

June 30, 2018

and

December 31, 2017

of the major classes of assets from the modular construction and manufacturing plant, undeveloped land positions and Noralta’s corporate offices we classified as held for sale (in thousands):

	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 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

are as follows (in thousands):

	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

(

)

Please see Note

– Acquisitions for further information.

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

and

December 31, 2017 (

in thousands):

	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

years as of

June 30, 2018

and

3.1

years as of

December

31,

2017.

Please see Note

– Acquisitions for further information.

As of

June 30, 2018,

the estimated remaining amortization of our amortizable intangible assets was as follows (in thousands):

	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

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	)

(

)

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

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Debt Disclosure [Text Block]

11.

DEBT

As of

June 30, 2018

and

December 31, 2017,

long-term debt consisted of the following (in thousands):

	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

have any capitalized interest to net against interest expense for either of the

three

-month periods ended

June 30, 2018

2017.

Amended

Credit

Agreement

As of

December 31, 2017,

our Credit Agreement, as then amended to date, provided for: (i) a

$275.0

million revolving credit facility scheduled to mature on

May 28, 2019,

allocated as follows: (A) a

$40.0

million senior secured revolving credit facility in favor of certain of our U.S. subsidiaries, as borrowers; (B) a

$90.0

million senior secured revolving credit facility in favor of Civeo and certain of our Canadian subsidiaries, as borrowers; (C) a

$60.0

million senior secured revolving credit facility in favor of Civeo, as borrower; and (D) a

$85.0

million senior secured revolving credit facility in favor of

one

of our Australian subsidiaries, as borrower; and (ii) a

$350.0

million term loan facility scheduled to mature on

May 28, 2019

in favor of Civeo.

April 2, 2018,

the Amended and Restated Syndicated Facility Agreement (the Amended Credit Agreement) became effective, which, among other things:

●

provided for the reduction by

$35.5

million of the aggregate revolving loan commitments under the Amended Credit Agreement, to a maximum principal amount of

$239.5

million, allocated as follows: (

) a

$20.0

million senior secured revolving credit facility in favor of certain of our U.S. subsidiaries, as borrowers; (

) a

$159.5

million senior secured revolving credit facility, after combining the commitments of the previously existing

two

tranches of the Canadian revolving credit facility into

one

tranche, in favor of Civeo and certain of our Canadian subsidiaries, as borrowers; and (

) a

$60.0

million senior secured revolving credit facility in favor of

one

of our Australian subsidiaries, as borrower;

●

extended the maturity date by

months, from

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

quarter of

2018

of approximately

$0.7

million related to unamortized debt issuance costs, which is included in Loss on extinguishment of debt on the unaudited consolidated statements of operations.

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%,

or a base rate plus

1.25%

3.00%,

in each case based on a ratio of our total leverage to EBITDA (as defined in the Amended Credit Agreement). Canadian dollar amounts outstanding bear interest at a variable rate equal to the Canadian Dollar Offered Rate plus a margin of

2.25%

4.00%,

or a base rate plus a margin of

1.25%

3.00%,

in each case based on a ratio of our consolidated total leverage to EBITDA. Australian dollar amounts outstanding under the Amended Credit Agreement bear interest at a variable rate equal to the Bank Bill Swap Bid Rate plus a margin of

2.25%

4.00%,

based on a ratio of our consolidated total leverage to EBITDA.

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

and our maximum leverage ratio, defined as the ratio of total debt to consolidated EBITDA, of

greater than

4.50

1.0

(as of

June 30, 2018).

As noted above, the permitted maximum leverage ratio changes over time. Each of the factors considered in the calculations of these ratios are defined in the Amended Credit Agreement. EBITDA and consolidated interest, as defined, exclude goodwill and asset impairments, debt discount amortization, amortization of intangibles and other non-cash charges. We were in compliance with our covenants as of

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,

we have

lenders that are parties to the Credit Agreement, with commitments ranging from

$24.9

million to

$110.6

million.

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

– Acquisitions, on

April 2, 2018,

we issued

9,679

Preferred Shares as part of the Noralta Acquisition. The Preferred Shares have an initial liquidation preference of

$10,000

per share. Holders of the Preferred Shares will be entitled to receive a

annual dividend on the liquidation preference, subject to increase to up to

in certain circumstances, paid quarterly in cash or, at our option, by increasing the Preferred Shares’ liquidation preference or any combination thereof.

The Preferred Shares are convertible into our common shares at a conversion price of

US$3.30

per Preferred Share, subject to certain anti-dilution adjustments (the Conversion Price). We have the right to elect to convert the Preferred Shares into our common shares if the

-day volume weighted average price of our common shares is equal to or exceeds the Conversion Price. Holders of the Preferred Shares will have the right to convert the Preferred Shares into our common shares at any time after

two

years from the date of issuance, and the Preferred Shares mandatorily convert after

five

years from the date of issuance. The Preferred Shares also convert automatically into our common shares upon a change of control of Civeo. We

may,

at any time and from time to time, redeem any or all of the Preferred Shares for cash at the liquidation preference, plus accrued and unpaid dividends.

The Preferred Shares do

not

have voting rights, except as statutorily required.

During the

three

and

six

-month periods ended

June 30, 2018,

we recognized preferred dividends on the Preferred Shares as follows (in thousands):

	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

- Acquisitions, at the time the Preferred Shares were issued, we determined that a beneficial conversion feature existed as 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

million. The beneficial conversion feature was recorded as an increase to additional paid-in capital with the offset recorded as a discount on the Preferred Shares. The increase to additional paid-in capital of the beneficial conversion feature is included in the

$166.9

million increase due to issuance of shares for acquisitions on the unaudited consolidated statements of changes in shareholders’ equity. Similarly, the discount to Preferred Shares of the beneficial conversion feature is netted in the

$7.0

million increase due to issuance of shares for acquisitions on the unaudited consolidated statements of changes in shareholders’ equity.

As the Preferred Shares do

not

have a stated redemption date, the discount is required to be recognized as a dividend over the minimum period from the date of issuance through the date of earliest conversion. Because the

-day volume weighted average price of our common shares was greater than

$3.30

April 2, 2018,

the earliest conversion date was determined to be

April 2, 2018.

Accordingly, we recorded a deemed dividend on

April 2, 2018

totaling the discount of

$47.8

million.

The Board of Directors elected to pay the dividend due on

June 30, 2018,

which totaled

$49.44

per Preferred Share, through an increase in the liquidation preference rather than in cash. The paid-in-kind dividend of

$0.5

million is included in Preferred dividends on the unaudited consolidated statement of operations for the

three

and

six

month periods ended

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

million. The beneficial conversion feature was recorded as an increase to additional paid-in capital with the offset recorded as a discount on the Preferred Shares. As the Preferred Shares do

not

have a stated redemption date, the discount is required to be recognized as a dividend over the minimum period from the date of issuance through the date of earliest conversion. Because the

-day volume weighted average price of our common shares was greater than

$3.30

June 30, 2018,

the earliest conversion date was determined to be

June 30, 2018.

Accordingly, we recorded a deemed dividend on

June 30, 2018

totaling the discount of

$0.2

million.

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

jurisdictions, Canada, Australia and the U.S., where statutory tax rates range from

21%

30%.

Our effective tax rate will vary from period to period based on changes in earnings mix between these different jurisdictions.

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,

Australia and the U.S. are loss jurisdictions for tax accounting purposes, therefore Australia and the U.S. have been removed from the annual effective tax rate computation for purposes of computing the interim tax provision. Income taxes for any significant and unusual or extraordinary transactions are computed and recorded in the period in which the specific transaction occurs.

As part of the acquisition of Noralta as described in Note

– Acquisitions, the purchase price allocation included

$53

million of deferred tax liabilities in Canada. As of

June 30, 2018,

the addition of these deferred tax liabilities resulted in Canada

longer being considered a loss jurisdiction. Accordingly, a benefit of

$4.9

million was recorded to reverse a valuation allowance against the Canadian net deferred tax asset and Canadian pre-tax results were included in the annual effective tax rate.

Our income tax benefit for the

six

months ended

June 30, 2018

totaled

$24.1

million, or

30.4%

of pretax loss, compared to a benefit of

$5.9

million, or

14.1%

of pretax loss, for the

six

months ended

June 30, 2017.

Our effective tax rate for the

six

months ended

June 30, 2018

and

2017

was reduced approximately

and

13%,

respectively, by the exclusion of Australia and the U.S. for purposes of computing the interim tax provision since they are considered loss jurisdictions for tax accounting purposes.

Our income tax benefit for the

three

months ended

June 30, 2018

totaled

$23.4

million, or

101.3%

of pretax loss, compared to a benefit of

$2.9

million, or

16.5%

of pretax loss, for the

three

months ended

June 30, 2017.

The effective tax rate for the

three

months ended

June 30, 2018

was impacted by an increase in the

2018

effective tax rate due to Canada

longer being considered a loss jurisdiction. Under ASC

740

270,

Accounting for Income Taxes, the quarterly tax provision is based on our current estimate of the annual effective tax rate less the prior quarter’s year-to-date provision.

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

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.

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

million from

$328.2

million at

December 31, 2017

$352.5

million at

June 30, 2018,

as a result of foreign currency exchange rate fluctuations. Changes in other comprehensive loss during the

first

half of

2018

were primarily driven by the Australian dollar and Canadian dollar 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$0.3

billion and

A$0.4

billion, respectively, at

June 30, 2018.

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

Equity Participation Plan of Civeo Corporation (the Civeo Plan). The Civeo Plan authorizes our Board of Directors and the Compensation Committee of our Board of Directors to approve grants of options, awards of restricted shares, performance awards and dividend equivalents, awards of deferred shares, and share payments to our employees and non-employee directors.

more than

18.7

million Civeo common shares

may

be awarded under the Civeo Plan.

Outstanding Awards

Options.

Compensation expense associated with options recognized in the

three

month periods ended

June 30, 2018

and

2017

totaled

zero

and less than

$0.1

million, respectively. Compensation expense associated with options recognized in the

six

month periods ended

June 30, 2018

and

2017

totaled less than

$0.1

million during both periods. At

June 30, 2018,

unrecognized compensation cost related to options was zero.

Restricted S

hare

/ Deferred S

hare

Awards.

February 20, 2018,

we granted

2,018,990

restricted share awards and deferred share awards under the Civeo Plan, which vest in

three

equal annual installments beginning on

February 20, 2019.

May 10, 2018,

we granted

265,153

restricted share awards to our outside directors, which vest in their entirety on

May 10, 2019.

Compensation expense associated with restricted share awards and deferred share awards recognized in the

three

month periods ended

June 30, 2018

and

2017

totaled

$1.6

million and

$1.0

million, respectively. Compensation expense associated with restricted share awards and deferred share awards recognized in the

six

month periods ended

June 30, 2018

and

2017

totaled

$2.9

million and

$2.3

million, respectively. The total fair value of restricted share awards and deferred share awards that vested during the

three

months ended

June 30, 2018

and

2017

was

$1.0

million and

$1.1

million, respectively. The total fair value of restricted share awards and deferred share awards that vested during the

six

months ended

June 30, 2018

and

2017

was

$3.4

million and

$2.4

million, respectively.

June 30, 2018,

unrecognized compensation cost related to restricted share awards and deferred share awards was

$11.4

million, which is expected to be recognized over a weighted average period of

2.1

years.

Phantom Share

Awards

During the

three

month periods ended

June 30, 2018

and

2017,

we recognized compensation expense associated with phantom shares totaling

$2.6

million and

$1.1

million, respectively. During the

six

month periods ended

June 30, 2018

and

2017,

we recognized compensation expense associated with phantom shares totaling

$6.0

million and

$4.1

million, respectively. At

June 30, 2018,

unrecognized compensation cost related to phantom shares was

$6.8

million, as remeasured at

June 30, 2018,

which is expected to be recognized over a weighted average period of

0.9

years.

Performance Awards

February 20, 2018,

we granted

848,830

performance awards under the Civeo Plan, which cliff vest in

three

years on

February 20, 2021.

These awards will be earned in amounts between

and

200%

of the participant’s target performance share award, based on the payout percentage associated with Civeo’s relative total shareholder return rank among a peer group that includes

other companies.

During the

three

month periods ended

June 30, 2018

and

2017,

we recognized compensation expense associated with performance awards totaling

$1.2

million and

$0.8

million, respectively. During the

six

month periods ended

June 30, 2018

and

2017,

we recognized compensation expense associated with performance awards totaling

$2.2

million and

$1.5

million, respectively. At

June 30, 2018,

unrecognized compensation cost related to performance shares was

$7.4

million, which is expected to be recognized over a weighted average period of

2.0

years.

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

and

six

months ended

June 30, 2018

and

2017

is summarized in the following table (in thousands):

	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)

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 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)

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 (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

- Definition

Tabular disclosure of information 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.

+ References

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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

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 (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)

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

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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+ Details

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

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

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 Related to Performance Obligations (Details) $ in Thousands	Jun. 30, 2018 USD ($)
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 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 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 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 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 (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 Textual) $ / shares in Units, $ in Millions				3 Months Ended	6 Months Ended	12 Months Ended
	Apr. 02, 2018 USD ($) shares	Apr. 02, 2018 CAD ($) shares	Feb. 28, 2018 USD ($) a shares	Jun. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	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 - Purchase Consideration and Estimated Fair Value (Details) $ / shares in Units, shares in Thousands, $ in Thousands, $ in Millions	Apr. 02, 2018 USD ($) shares	Apr. 02, 2018 CAD ($) 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 - 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 - Identifiable Assets and Liabilities (Details) - Noralta [Member] $ in Thousands	Apr. 02, 2018 USD ($)
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 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 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 - 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 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 Intangible Assets - Goodwill (Details)
$ in Thousands

6 Months Ended

Jun. 30, 2018

USD ($)

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 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 Intangible Assets - Remaining Amortization of Intangible Assets (Details) $ in Thousands	Jun. 30, 2018 USD ($)
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 (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 - 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) $ in Thousands		3 Months Ended		6 Months Ended
Note 11 - Debt (Details Textual) $ in Thousands	Apr. 02, 2018 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
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 (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 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 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 (Details Textual) - USD ($)		3 Months Ended	6 Months Ended
Note 12 - Preferred Shares (Details Textual) - USD ($)	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 - Preferred Dividends (Details) - USD ($)		3 Months Ended	6 Months Ended
	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 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 Comprehensive Loss (Details Textual) $ in Thousands, $ in Billions, $ in Billions	Jun. 30, 2018 USD ($)	Jun. 30, 2018 CAD ($)	Jun. 30, 2018 AUD ($)	Dec. 31, 2017 USD ($)
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 Compensation (Details Textual) $ in Thousands			3 Months Ended		6 Months Ended
	May 10, 2018 shares	Feb. 20, 2018 shares	Jun. 30, 2018 USD ($) shares	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) shares	Jun. 30, 2017 USD ($)
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 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)