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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 18pt; margin: 0pt; text-align: center;"><b>UNITED STATES</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">_______________</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>FORM 8-K</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CURRENT REPORT </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Pursuant to Section 13 </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>or</b><b> 15(d) of The Securities Exchange Act of 1934</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Date of report (Date of earliest event reported): <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">March 22, 2018</font></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;text-transform:uppercase;"><b>Civeo Corporation</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Exact name of registrant as specified in its charter)</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>British Columbia</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>,</b><b> Canada</b></font></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>1-36246</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>98-1253716</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or Other Jurisdiction of</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission File Number)</p>
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			<td style="vertical-align:top;width:33.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(I.R.S. Employer</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Incorporation)</p>
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			<td style="vertical-align:top;width:33.3%;">&nbsp;</td>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Identification No.)</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Three Allen Center,</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>333 Clay Street, Suite 4980</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>, </b><b>Houston, Texas 77002</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of Principal Executive Offices) (Zip Code)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Registrant<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s Telephone Number, Including Area Code: (</font></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>713</b><b>) </b><b>510</b><b>-</b><b>2400</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Check the appropriate box below if the Form 8-K<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&#9744;</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&#9744;</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&#9744;</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&#9744; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font><b>&nbsp;</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-4.3pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-4.3pt;">(&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:right;text-indent:-4.3pt;">Emerging Growth Company<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&#9744;</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:13.5pt;margin-right:0pt;margin-top:0pt;text-align:left;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&#9744;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:13.5pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>ITEM<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;8.01</font></b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>OTHER EVENTS.</b></p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="background-color:#FFFFFF;font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On November 26, 2017, Civeo Corporation (&ldquo;Civeo&rdquo;) entered i<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">nto a share purchase agreement (as amended, the &ldquo;Share Purchase Agreement&rdquo;) by and among Civeo, Noralta Lodge Ltd. (&ldquo;Noralta&rdquo;), Torgerson Family Trust, 2073357 Alberta Ltd., 2073358 Alberta Ltd., 1818939 Alberta Ltd., 2040618 Alberta Ltd., 2040624 Alberta Ltd., 989677 Alberta Ltd. and Lance Torgerson. Pursuant to the Share Purchase Agreement, Civeo will acquire, directly or indirectly, all of the issued and outstanding shares of Noralta (the &ldquo;Acquisition&rdquo;)</font>, upon the satisfaction or waiver of the conditions set forth therein<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="background-color:#FFFFFF;font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In connection with the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Acquisition, on January 26, 2018, a putative class action captioned <i>Philip Suhr v. Civeo Corporation</i><i>,</i><i> et al.</i> was filed in the U.S. District Court for the Southern District of Texas against Civeo and members of its board of directors (the &ldquo;Litigation&rdquo;). The complaint alleges that Civeo filed a materially incomplete and misleading proxy statement in connection with the Acquisition (the &ldquo;Proxy Statement&rdquo;), in violation of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and Rule 14a-9 of the Securities and Exchange Commission. The complaint seeks injunctive relief, including to enjoin the shareholder vote on the Acquisition as well as the Acquisition itself, damages and an award of attorneys&#39; fees, in addition to other relief. On February 5, 2018, the plaintiff filed a motion for a preliminary injunction (the &ldquo;Preliminary Injunction Motion&rdquo;) to prevent the shareholder vote scheduled for March 28, 2018 from taking place. The defendants filed an opposition to the Preliminary Injunction Motion on February 26, 2018. The court has set a hearing on the Preliminary Injunction Motion for March 27, 2018.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="background-color:#FFFFFF;font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Civeo<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> believes that the claims asserted in the Litigation and the Preliminary Injunction Motion are without merit and no supplemental disclosure is required under applicable law. However, in order to moot plaintiffs&rsquo; unmeritorious disclosure claims, to avoid the risk of the Litigation delaying or adversely affecting the Acquisition and to minimize the costs, risks and uncertainties inherent in litigation, without admitting any liability or wrongdoing, Civeo has determined to voluntarily supplement the Proxy Statement as described in this Current Report on Form&nbsp;8-K.&nbsp;Nothing in this Current Report on Form&nbsp;8-K&nbsp;shall be deemed an admission of the legal necessity or materiality under applicable laws of any of the disclosures set forth herein. To the contrary, Civeo specifically denies all allegations in the Litigation and the Preliminary Injunction Motion that any additional disclosure was or is required, and believes that the supplemental disclosures contained herein are immaterial.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="background-color:#FFFFFF;font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">These supplemental disclosures will not affect the consideration to be paid in connection with the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Acquisition or the timing of the special meeting of Civeo shareholders to be held at the Doubletree Houston at 400 Dallas Street, Houston, Texas 77002, on March 28, 2018 at 9:00 a.m., local time.&nbsp;</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="background-color:#FFFFFF;font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u><i>Supplemental Disclosure to Proxy Statement in Connection with the Litigation</i></u></b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="background-color:#FFFFFF;font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The following disclosure<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> in this Current Report on Form 8-K supplements the disclosures contained in the Proxy Statement and should be read in conjunction with the disclosures contained in the Proxy Statement, which in turn should be read in its entirety. The below updated disclosure provides the EBITDA multiples for each of the selected precedent transactions used by Lazard, which supplements the disclosure already included in the Proxy Statement that &ldquo;[t]he overall low to high estimated EBITDA multiples observed for the selected transactions were 3.4x to 5.6x.&rdquo;</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>The disclosure in the section entitled &ldquo;The </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Acquisition</b><b>&rdquo; under the heading &ldquo;Opinion of </b><b>Civeo&rsquo;s Financial Advisor&rdquo;</b><b>, beginning on page</b><b> 37</b><b> of the Proxy Statement, is hereby amended by</b><b> a</b><b>dding the column &ldquo;</b><b>EV/LTM EBITDA&rdquo;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b><b>to the table at the</b><b> </b><b>top of page 42</b><b> </b><b>of the Proxy Statement </b><b>as indicated below</b><b>:</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>&nbsp;</i></b></p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Date </b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&#8203;</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&#8203;</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Acquirer </b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&#8203;</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&#8203;</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Target </b></p>
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			<td rowspan="1" style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td colspan="1" rowspan="1" style="vertical-align: top; width: 22%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>EV/LTM EBITDA</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">March 2017</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Black Diamond Group Ltd.</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
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			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Britco LP</p>
			</td>
			<td rowspan="1" style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td colspan="1" rowspan="1" style="vertical-align: top; width: 22%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">4.7x</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">July 2016</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 25%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Horizon North Logistics Inc.</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 25%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Empire Camp Equipment Ltd.</p>
			</td>
			<td rowspan="1" style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td colspan="1" rowspan="1" style="vertical-align: top; width: 22%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">3.4x</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 22%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">November 2011</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 25%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Hammond, Kennedy, Whitney &amp; Company, Inc.</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 25%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Royal Camp Services Ltd.</p>
			</td>
			<td style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td colspan="1" style="vertical-align: top; width: 22%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">5.6x</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 22%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">June 2011</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 25%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Clean Harbors, Inc.</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 25%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Peak Energy Services Ltd.</p>
			</td>
			<td style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td colspan="1" style="vertical-align: top; width: 22%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5.5x</font></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 22%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">December 2010</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 25%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Oil States International, Inc.</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#8203;</p>
			</td>
			<td style="vertical-align: top; width: 25%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Mountain West Oilfield Service and Supplies, Inc.</p>
			</td>
			<td style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td colspan="1" style="vertical-align: top; width: 22%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">4.7x</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURE</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:252pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:95.2%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:top;width:46.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:53.4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:35.1pt;text-transform:uppercase;">CIVEO CORPORATION<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:46.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:53.4%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:46.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:53.4%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:46.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:53.4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>/s/ </u><u>Frank C. Steininger</u></font></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:46.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:53.4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Frank C. Steininger</font></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:46.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:53.4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:61.2pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-25.2pt;">Title: <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Executive Vice President, Chief Financial Officer<br>
			and Treasurer</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">DATED: <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">March 22</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, 2018</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

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cveo20180322_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or
15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
March 22, 2018
Civeo Corporation
(Exact name of registrant as specified in its charter)
British Columbia
,
Canada
1-36246
98-1253716
(State or Other Jurisdiction of
(Commission File Number)
(I.R.S. Employer
Incorporation)
Identification No.)
Three Allen Center,
333 Clay Street, Suite 4980
,
Houston, Texas 77002
(Address of Principal Executive Offices) (Zip Code)
Registrant
's Telephone Number, Including Area Code: (
713
)
510
-
2400
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
ITEM
8.01
OTHER EVENTS.
On November 26, 2017, Civeo Corporation ("Civeo") entered i
nto a share purchase agreement (as amended, the "Share Purchase Agreement") by and among Civeo, Noralta Lodge Ltd. ("Noralta"), Torgerson Family Trust, 2073357 Alberta Ltd., 2073358 Alberta Ltd., 1818939 Alberta Ltd., 2040618 Alberta Ltd., 2040624 Alberta Ltd., 989677 Alberta Ltd. and Lance Torgerson. Pursuant to the Share Purchase Agreement, Civeo will acquire, directly or indirectly, all of the issued and outstanding shares of Noralta (the "Acquisition")
, upon the satisfaction or waiver of the conditions set forth therein
.
In connection with the
Acquisition, on January 26, 2018, a putative class action captioned
Philip Suhr v. Civeo Corporation
,
et al.
was filed in the U.S. District Court for the Southern District of Texas against Civeo and members of its board of directors (the "Litigation"). The complaint alleges that Civeo filed a materially incomplete and misleading proxy statement in connection with the Acquisition (the "Proxy Statement"), in violation of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and Rule 14a-9 of the Securities and Exchange Commission. The complaint seeks injunctive relief, including to enjoin the shareholder vote on the Acquisition as well as the Acquisition itself, damages and an award of attorneys' fees, in addition to other relief. On February 5, 2018, the plaintiff filed a motion for a preliminary injunction (the "Preliminary Injunction Motion") to prevent the shareholder vote scheduled for March 28, 2018 from taking place. The defendants filed an opposition to the Preliminary Injunction Motion on February 26, 2018. The court has set a hearing on the Preliminary Injunction Motion for March 27, 2018.
Civeo
believes that the claims asserted in the Litigation and the Preliminary Injunction Motion are without merit and no supplemental disclosure is required under applicable law. However, in order to moot plaintiffs' unmeritorious disclosure claims, to avoid the risk of the Litigation delaying or adversely affecting the Acquisition and to minimize the costs, risks and uncertainties inherent in litigation, without admitting any liability or wrongdoing, Civeo has determined to voluntarily supplement the Proxy Statement as described in this Current Report on Form 8-K. Nothing in this Current Report on Form 8-K shall be deemed an admission of the legal necessity or materiality under applicable laws of any of the disclosures set forth herein. To the contrary, Civeo specifically denies all allegations in the Litigation and the Preliminary Injunction Motion that any additional disclosure was or is required, and believes that the supplemental disclosures contained herein are immaterial.
These supplemental disclosures will not affect the consideration to be paid in connection with the
Acquisition or the timing of the special meeting of Civeo shareholders to be held at the Doubletree Houston at 400 Dallas Street, Houston, Texas 77002, on March 28, 2018 at 9:00 a.m., local time.
Supplemental Disclosure to Proxy Statement in Connection with the Litigation
The following disclosure
in this Current Report on Form 8-K supplements the disclosures contained in the Proxy Statement and should be read in conjunction with the disclosures contained in the Proxy Statement, which in turn should be read in its entirety. The below updated disclosure provides the EBITDA multiples for each of the selected precedent transactions used by Lazard, which supplements the disclosure already included in the Proxy Statement that "[t]he overall low to high estimated EBITDA multiples observed for the selected transactions were 3.4x to 5.6x."
The disclosure in the section entitled "The
Acquisition
" under the heading "Opinion of
Civeo's Financial Advisor"
, beginning on page
37
of the Proxy Statement, is hereby amended by
a
dding the column "
EV/LTM EBITDA"
to the table at the
top of page 42
of the Proxy Statement
as indicated below
:
Date
​
​
Acquirer
​
​
Target
EV/LTM EBITDA
March 2017
​
​
Black Diamond Group Ltd.
​
​
Britco LP
4.7x
July 2016
​
​
Horizon North Logistics Inc.
​
​
Empire Camp Equipment Ltd.
3.4x
November 2011
​
​
Hammond, Kennedy, Whitney & Company, Inc.
​
​
Royal Camp Services Ltd.
5.6x
June 2011
​
​
Clean Harbors, Inc.
​
​
Peak Energy Services Ltd.
5.5x
December 2010
​
​
Oil States International, Inc.
​
​
Mountain West Oilfield Service and Supplies, Inc.
4.7x
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CIVEO CORPORATION
By:
/s/
Frank C. Steininger
Name:
Frank C. Steininger
Title:
Executive Vice President, Chief Financial Officer
and Treasurer
DATED:
March 22
, 2018