Latest news with #CiveoCorporation
Yahoo
8 hours ago
- Business
- Yahoo
Civeo Announces a 4-Year Contract Renewal in the Australian Bowen Basin with expected revenues of approximately A$250 million
HOUSTON & SYDNEY, June 09, 2025--(BUSINESS WIRE)--Civeo Corporation (NYSE: CVEO) today announced that it was awarded a four-year contract renewal with a leading metallurgical coal producer to provide rooms and hospitality services from the Company's existing Coppabella, Moranbah and Nebo villages in the Australian Bowen Basin. The contract renewal is expected to generate approximately A$250 million in total revenues from 2025 to 2029. This contract renewal was contemplated in Civeo's latest full year 2025 revenue and Adjusted EBITDA guidance. "We appreciate our customer's continued trust in Civeo's operations and look forward to continuing to build on our longstanding relationship throughout this contract term and beyond. Our ability to provide room supply surety at a large scale with a consistent service offering at a competitive price to the customer's multiple mining locations is unmatched in the marketplace. This contract renewal during a period of softness in the met coal markets is a testament to the strength of our value proposition throughout the commodity cycle," said Bradley J. Dodson, President and Chief Executive Officer. About Civeo Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Australian natural resource regions and the Canadian oil sands. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently owns and operates a total of 28 lodges and villages in Australia and North America with an aggregate of approximately 27,500 rooms. In addition, Civeo operates and provides hospitality services at 24 customer-owned locations with more than 19,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at Forward Looking Statements Statements included in this release regarding this contract award, the expected benefits and contracted revenue visibility and other statements that are not historical facts, are forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933). Forward-looking statements include words or phrases such as "anticipate," "believe," "contemplate," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," "should," "will" and words and phrases of similar import. The forward-looking statements included herein are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Risks and uncertainties with respect to forward-looking statements included herein include, among other things, risks associated with the ability of Civeo to implement its plans, forecasts and other expectations with respect to this contract, risks associated with the general nature of the accommodations industry (including lower than expected room requirements), risks associated with the level of supply and demand for oil, coal, natural gas, iron ore and other minerals, including the level of demand for coal and other natural resources from Australia, and fluctuations in the current and future prices of oil, coal, natural gas, iron ore and other minerals, risks associated with currency exchange rates, risks associated with the development of new projects, including whether such projects will continue in the future, and other factors discussed in the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Civeo's annual report on Form 10-K for the year ended December 31, 2024 and other reports Civeo may file from time to time with the U.S. Securities and Exchange Commission. Each forward-looking statement contained in this release speaks only as of the date of this release. Except as required by law, Civeo expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. View source version on Contacts Regan NielsenCiveo CorporationVice President, Corporate Development & Investor Relations713-510-2400
Business Wire
8 hours ago
- Business
- Business Wire
Civeo Announces a 4-Year Contract Renewal in the Australian Bowen Basin with expected revenues of approximately A$250 million
HOUSTON & SYDNEY--(BUSINESS WIRE)--Civeo Corporation (NYSE: CVEO) today announced that it was awarded a four-year contract renewal with a leading metallurgical coal producer to provide rooms and hospitality services from the Company's existing Coppabella, Moranbah and Nebo villages in the Australian Bowen Basin. The contract renewal is expected to generate approximately A$250 million in total revenues from 2025 to 2029. This contract renewal was contemplated in Civeo's latest full year 2025 revenue and Adjusted EBITDA guidance. 'We appreciate our customer's continued trust in Civeo's operations and look forward to continuing to build on our longstanding relationship throughout this contract term and beyond. Our ability to provide room supply surety at a large scale with a consistent service offering at a competitive price to the customer's multiple mining locations is unmatched in the marketplace. This contract renewal during a period of softness in the met coal markets is a testament to the strength of our value proposition throughout the commodity cycle,' said Bradley J. Dodson, President and Chief Executive Officer. About Civeo Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Australian natural resource regions and the Canadian oil sands. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently owns and operates a total of 28 lodges and villages in Australia and North America with an aggregate of approximately 27,500 rooms. In addition, Civeo operates and provides hospitality services at 24 customer-owned locations with more than 19,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at Forward Looking Statements Statements included in this release regarding this contract award, the expected benefits and contracted revenue visibility and other statements that are not historical facts, are forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933). Forward-looking statements include words or phrases such as "anticipate," "believe," "contemplate," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," "should," "will" and words and phrases of similar import. The forward-looking statements included herein are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Risks and uncertainties with respect to forward-looking statements included herein include, among other things, risks associated with the ability of Civeo to implement its plans, forecasts and other expectations with respect to this contract, risks associated with the general nature of the accommodations industry (including lower than expected room requirements), risks associated with the level of supply and demand for oil, coal, natural gas, iron ore and other minerals, including the level of demand for coal and other natural resources from Australia, and fluctuations in the current and future prices of oil, coal, natural gas, iron ore and other minerals, risks associated with currency exchange rates, risks associated with the development of new projects, including whether such projects will continue in the future, and other factors discussed in the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Civeo's annual report on Form 10-K for the year ended December 31, 2024 and other reports Civeo may file from time to time with the U.S. Securities and Exchange Commission. Each forward-looking statement contained in this release speaks only as of the date of this release. Except as required by law, Civeo expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.
Business Wire
21-05-2025
- Business
- Business Wire
Civeo Announces a 3-Year Integrated Services Contract Award in Australian Bowen Basin
HOUSTON & SYDNEY--(BUSINESS WIRE)--Civeo Corporation (NYSE: CVEO) today announced that it was awarded a three-year contract with a leading metallurgical coal producer to provide integrated services at two villages in the Australian Bowen Basin. This contract marks the first integrated services contract the Company has been awarded in Queensland. This producer is currently one of Civeo's largest customers at Civeo-owned villages. Services under the contract will commence in June 2025. The new contract incorporates onsite village catering, cleaning and maintenance services. It is anticipated the three-year contract will generate approximately A$64 million in revenues over the 2025-2028 contract period. This contract award was included in Civeo's latest full year 2025 revenue and Adjusted EBITDA guidance. 'This contract award reaffirms the strength of Civeo's customer relationships and the high quality of our hospitality services. We are excited to be awarded our first integrated services contract in Queensland while expanding our relationship with this key customer. We have been providing accommodations to this customer at our Civeo-owned villages for over a decade, and we appreciate their continued trust in Civeo's operations. We look forward to capitalizing on further opportunities to grow our integrated services business across Australia,' said Bradley J. Dodson, President and Chief Executive Officer. About Civeo Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Australian natural resource regions and the Canadian oil sands. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently owns and operates a total of 28 lodges and villages in Australia and North America with an aggregate of approximately 27,500 rooms. In addition, Civeo operates and provides hospitality services at 24 customer-owned locations with more than 19,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at Forward Looking Statements Statements included in this release regarding this contract award, the expected benefits and contracted revenue visibility and other statements that are not historical facts, are forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933). Forward-looking statements include words or phrases such as "anticipate," "believe," "contemplate," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," "should," "will" and words and phrases of similar import. The forward-looking statements included herein are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Risks and uncertainties with respect to forward-looking statements included herein include, among other things, risks associated with the ability of Civeo to implement its plans, forecasts and other expectations with respect to this contract, risks associated with the general nature of the accommodations industry (including lower than expected room requirements), risks associated with the level of supply and demand for oil, coal, natural gas, iron ore and other minerals, including the level of demand for coal and other natural resources from Australia, and fluctuations in the current and future prices of oil, coal, natural gas, iron ore and other minerals, risks associated with currency exchange rates, risks associated with the development of new projects, including whether such projects will continue in the future, and other factors discussed in the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Civeo's annual report on Form 10-K for the year ended December 31, 2024 and other reports Civeo may file from time to time with the U.S. Securities and Exchange Commission. Each forward-looking statement contained in this release speaks only as of the date of this release. Except as required by law, Civeo expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.
Daily Telegraph
08-05-2025
- Business
- Daily Telegraph
Massive $105m deal for humble mining dongas
A massive deal has been approved for a foreign firm to buy four mining donga villages with more than 1,300 bedrooms – coming in over $78,000 a room. New York Stock Exchange listed Civeo Corporation, whose annual revenue last year was over a billion Aussie dollars, has confirmed its purchase of four villages in Queensland's Bowen Basin off a private seller. MORE: Aussie capital named top two city in the world Big Aus bank slashes rates weeks before RBA decision MORE: Quirky solution to housing crisis Artist builds Aus first aircrete dome home Civeo Corp CEO Bradley Dodson said the deal was approved 'earlier than expected'. The $105m deal equates to just over two years of projected revenue that the Bowen Basin deal was expected to bring in for the US-based firm. Mr Dodson said it would 'add annualised revenue and EBITDA of approximately $50m and $27m, or approximately US$32m and US$17m, respectively' to Civeo Corporation's numbers. In a statement to NYSE, the firm said the purchase gives the firm 'unmatched presence and capabilities' in what it said was 'the world's premier metallurgical coal basin'. The deal includes ongoing contracts with new and existing metallurgical coal producers under take-or-pay contracts – which means the firm will get paid whether companies use the dongas fully or not. MORE: See the Aussies who put their pets first when buying a house Un-beer-lievable: SEQ costlier than Melbourne for housing, food, grog The firm already has a strong Queensland presence with Coppabella Village between Moranbah and Nebo, Dysart Village, Middlemount Village, Moranbah Village, and Nebo Village; two in New South Wales – Boggabri Village and Narrabri Village; and one in Western Australia – Karratha Village. All up before this deal, Civeo owned and operated 28 lodges and villages across Australia and North America with about 27,500 rooms, and also provides hospitality services at 22 customer-owned locations with over 18,000 rooms. Civeo Corporation operates in the hospitality services zones within the resource sector, accommodating hundreds or thousands of workers in long-term and temporary accommodation, providing food, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications, security and logistics. Mr Dodson said 'we have updated Civeo's 2025 guidance to reflect the expected revenue and Adjusted EBITDA contributions from these newly acquired villages and look forward to deepening our relationships with our customers in the Bowen Basin.' MORE REAL ESTATE NEWS
News.com.au
08-05-2025
- Business
- News.com.au
Massive $105m deal for humble mining dongas
A massive deal has been approved for a foreign firm to buy four mining donga villages with more than 1,300 bedrooms – coming in over $78,000 a room. New York Stock Exchange listed Civeo Corporation, whose annual revenue last year was over a billion Aussie dollars, has confirmed its purchase of four villages in Queensland's Bowen Basin off a private seller. Big Aus bank slashes rates weeks before RBA decision Civeo Corp CEO Bradley Dodson said the deal was approved 'earlier than expected'. The $105m deal equates to just over two years of projected revenue that the Bowen Basin deal was expected to bring in for the US-based firm. Mr Dodson said it would 'add annualised revenue and EBITDA of approximately $50m and $27m, or approximately US$32m and US$17m, respectively' to Civeo Corporation's numbers. In a statement to NYSE, the firm said the purchase gives the firm 'unmatched presence and capabilities' in what it said was 'the world's premier metallurgical coal basin'. The deal includes ongoing contracts with new and existing metallurgical coal producers under take-or-pay contracts – which means the firm will get paid whether companies use the dongas fully or not. Un-beer-lievable: SEQ costlier than Melbourne for housing, food, grog The firm already has a strong Queensland presence with Coppabella Village between Moranbah and Nebo, Dysart Village, Middlemount Village, Moranbah Village, and Nebo Village; two in New South Wales – Boggabri Village and Narrabri Village; and one in Western Australia – Karratha Village. All up before this deal, Civeo owned and operated 28 lodges and villages across Australia and North America with about 27,500 rooms, and also provides hospitality services at 22 customer-owned locations with over 18,000 rooms. Civeo Corporation operates in the hospitality services zones within the resource sector, accommodating hundreds or thousands of workers in long-term and temporary accommodation, providing food, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications, security and logistics. Mr Dodson said 'we have updated Civeo's 2025 guidance to reflect the expected revenue and Adjusted EBITDA contributions from these newly acquired villages and look forward to deepening our relationships with our customers in the Bowen Basin.'
