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.
