Civeo Corporation (NYSE:CVEO) announced yesterday that it has won a contract extension worth at least $31 million at its Wapasu Creek, Alberta location. The contract, originally due to expire in the third quarter of 2015, will now run through the end of 2017.
Civeo is a leading provider of workforce accommodations, logistics and facility management services to the natural resource industry, with a prominent market position in the Canadian oil sands. The extended contract will see the company continue to provide a key customer with accommodations and services for an average of 500 rooms, with potential for further room demand.
“Despite the challenging market environment, we are pleased to see continued demand for our remote workforce accommodations,” said Civeo president and CEO Bradley J. Dodson, “and we remain committed to providing our customers with the highest level of service.”
With 5,174 standard and deluxe rooms, outfitted with cable TV and Internet, Wapasu Creek Lodge is Civeo’s largest location. Other offerings include catering, personnel logistical services, fitness and recreation facilities, and a Tim Horton’s.