Civeo Corporation has a new camp contract in the oilsands that it expects to deliver approximately $100 million in revenue over the next five years.
The company, which operates out of bases in Calgary and Houston, says it has been awarded a new hospitality services contract to operate a 1,540-room facility for an unnamed oilsands operator.
The contract has an initial term of five years, with an option to extend for an additional five years.
Civeo, formerly known as PTI Group, currently operates 18 lodges in Alberta, 17 of which are in the Athabasca oilsands region, according to its website.
The company also has facilities in Australia and the United States.
This week it also announced a new contract with Whitehaven Coal Mining in Australia to provide rooms and hospitality services for two of the company's existing camps. This contract is for an initial three year time period, with a minimum room commitment and an option to extend for an additional two years. It is anticipated the initial commitment will generate approximately $21 million in total revenues over 2019-2021.