UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

 

 

Civeo Corporation

(Name of Issuer)

Common Shares

(Title of Class of Securities)

178787107

(CUSIP Number)

Torgerson Family Trust and 989677 Alberta Ltd.

9645 45 Avenue NW

Edmonton, Alberta, Canada T6E 5Z8

Attention: Lance Torgerson

- with copies to -

Dentons Canada LLP

2900 Manulife Place

10180 – 101 St. NW

Edmonton, AB T5J 3V5

Attention: Leanne Krawchuk

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

January 5, 2022

(Date of Event Which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

 

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 178787107

 

  1     

NAME OF REPORTING PERSON

 

Torgerson Family Trust

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

    

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

    

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of British Columbia, Canada

NUMBER OF

SHARES

 BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7     

SOLE VOTING POWER

 

-0-

      8     

SHARED VOTING POWER

 

1,428,279

      9     

SOLE DISPOSITIVE POWER

 

-0-

    10     

SHARED DISPOSITIVE POWER

 

1,428,279

11     

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,428,279

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

10.02%

14  

TYPE OF REPORTING PERSON

 

OO

 

2


CUSIP No. 178787107

 

  1     

NAME OF REPORTING PERSON

 

989677 Alberta Ltd.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

    

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

    

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

 BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7     

SOLE VOTING POWER

 

-0-

      8     

SHARED VOTING POWER

 

446,891

      9     

SOLE DISPOSITIVE POWER

 

-0-

    10     

SHARED DISPOSITIVE POWER

 

446,891

11     

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

446,891

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

    

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

3.14%

14  

TYPE OF REPORTING PERSON

 

CO

 

3


CUSIP No. 178787107

 

  1     

NAME OF REPORTING PERSON

 

Svenco Investments Ltd.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

    

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

    

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

 BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7     

SOLE VOTING POWER

 

-0-

      8     

SHARED VOTING POWER

 

446,891 (1)

      9     

SOLE DISPOSITIVE POWER

 

-0-

    10     

SHARED DISPOSITIVE POWER

 

446,891 (1)

11     

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

446,891 (1)

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

    

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

3.14%

14  

TYPE OF REPORTING PERSON

 

CO

 

(1) 

Svenco Investments Ltd. may be deemed to be the beneficial owner of 446,891 shares held indirectly by Svenco Investments Ltd. as the direct owner of all of the voting shares of 989677 Alberta Ltd.

 

4


CUSIP No. 178787107

 

  1     

NAME OF REPORTING PERSON

 

Lance Torgerson

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

    

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

    

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

 BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7     

SOLE VOTING POWER

 

-0-

      8     

SHARED VOTING POWER

 

1,875,170 (2)

      9     

SOLE DISPOSITIVE POWER

 

-0-

    10     

SHARED DISPOSITIVE POWER

 

1,875,170 (2)

11     

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,875,170 (2)

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

    

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

13.16%

14  

TYPE OF REPORTING PERSON

 

IN

 

(2)

Lance Torgerson may be deemed to be the beneficial owner of the shares held directly by Torgerson Family Trust, of which Lance Torgerson is one of three co-trustees and a beneficiary, and the shares held directly by 989677 Alberta Ltd., of which Lance Torgerson is the sole director and, as the owner of 100% of the voting shares of Svenco Investments Ltd., is the indirect beneficial owner of all of the voting shares of 989677 Alberta Ltd.

 

5


CUSIP No. 178787107

 

  1     

NAME OF REPORTING PERSON

 

Tammy Torgerson

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

    

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

    

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

 BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7     

SOLE VOTING POWER

 

-0-

      8     

SHARED VOTING POWER

 

1,875,170 (3)

      9     

SOLE DISPOSITIVE POWER

 

-0-

    10     

SHARED DISPOSITIVE POWER

 

1,875,170 (3)

11     

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,875,170 (3)

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

    

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

13.16%

14  

TYPE OF REPORTING PERSON

 

IN

 

(3) 

Mrs. Torgerson may be deemed to be the beneficial owner of the shares held by her spouse Lance Torgerson.

 

6


CUSIP No. 178787107

 

  1     

NAME OF REPORTING PERSON

 

Richard Torgerson

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

    

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

    

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

 BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7     

SOLE VOTING POWER

 

-0-

      8     

SHARED VOTING POWER

 

1,428,279 (4)

      9     

SOLE DISPOSITIVE POWER

 

-0-

    10     

SHARED DISPOSITIVE POWER

 

1,428,279 (4)

11     

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,428,279 (4)

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

    

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

10.02%

14  

TYPE OF REPORTING PERSON

 

IN

 

(4) 

Richard Torgerson may be deemed to be the beneficial owner of the shares held directly by Torgerson Family Trust, of which Richard Torgerson is one of three co-trustees.

 

7


AMENDMENT NO. 5 TO SCHEDULE 13D

This Amendment No. 5 to Schedule 13D/A (the “Amendment”) relates to Common Shares (“Common Shares”) of Civeo Corporation, a British Columbia corporation (the “Issuer” or the “Company”). This Amendment is being filed to amend the Schedule 13D/A that was filed on March 8, 2019 (the “Schedule 13D”). This Amendment is being filed to update Item 5 to the Schedule 13D. Other than information set forth on the cover pages and Item 5 below, no other information in the Schedule 13D is being amended. Unless otherwise indicated in this Amendment, all capitalized terms have the meanings ascribed to them in the Schedule 13D.

 

Item 5.

Interest in Securities of the Issuer

(a) and (b) The information on the cover pages are incorporated by reference to this Item 5(a) and 5(b).

The ownership percentage is calculated based upon 14,250,180 of the Issuer’s Common Shares outstanding as of October 25, 2021, as reported in the Issuer’s quarterly report for the period ending September 30, 2021 on the Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on October 28, 2021.

(c) The following table sets forth all transactions with respect to the Common Shares effected during the past sixty (60) days prior to the effective date of this Amendment No. 5 to Schedule 13D by the Reporting Persons. All transactions were made on the New York Stock Exchange.

 

Date of

Transaction

   Transaction    Number of
securities sold
(Torgerson Family
Trust):
     Number of
securities sold
(989677 Alberta
Ltd.):
     Total shares
sold
     Volume
Weighted
Average
Price
 

Oct-18-2021

   Sale      5,084        753        5,837      $ 23.03  

Oct-19-2021

   Sale      4,933        731        5,664      $ 22.81  

Oct-20-2021

   Sale      4,899        726        5,625      $ 22.46  

Oct-21-2021

   Sale      4,905        727        5,632      $ 22.69  

Oct-22-2021

   Sale      5,106        757        5,863      $ 22.71  

Oct-25-2021

   Sale      4,942        732        5,674      $ 22.54  

Oct-26-2021

   Sale      5,040        747        5,787      $ 22.68  

Oct-27-2021

   Sale      5,018        743        5,761      $ 22.51  

Oct-28-2021

   Sale      5,140        762        5,902      $ 22.56  

Oct-29-2021

   Sale      5,534        820        6,354      $ 22.56  

Nov-01-2021

   Sale      5,737        850        6,587      $ 22.79  

Nov-02-2021

   Sale      5,702        845        6,547      $ 22.48  

Nov-03-2021

   Sale      5,835        865        6,700      $ 22.45  

Nov-04-2021

   Sale      6,012        891        6,903      $ 22.75  

Nov-05-2021

   Sale      6,067        899        6,966      $ 23.09  

Nov-08-2021

   Sale      5,845        866        6,711      $ 22.67  

Nov-09-2021

   Sale      5,846        866        6,712      $ 22.67  

Nov-10-2021

   Sale      5,770        855        6,625      $ 22.92  

Nov-11-2021

   Sale      5,940        880        6,820      $ 22.81  

Nov-12-2021

   Sale      5,950        881        6,831      $ 21.78  

Dec-15-2021

   Sale      4,343        643        4,986      $ 19.55  

Dec-16-2021

   Sale      4,431        657        5,088      $ 19.62  

Dec-17-2021

   Sale      2,395        355        2,750      $ 19.50  

Dec-21-2021

   Sale      2,184        324        2,508      $ 19.52  

Dec-31-2021

   Sale      132        20        152      $ 19.50  

Jan-03-2021

   Sale      3,702        548        4,250      $ 19.57  

Jan-04-2021

   Sale      348        52        400      $ 19.52  

Jan-05-2021

   Sale      4,033        598        4,631      $ 19.52  

(d) Not applicable.

(e) Not applicable.

 

8


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date:   January 10, 2022
Torgerson Family Trust
By:  

/s/ Lance Torgerson

Name:   Lance Torgerson
Title:   Trustee
989677 Alberta Ltd.
By:  

/s/ Lance Torgerson

Name:   Lance Torgerson
Title:   President
Svenco Investments Ltd.
By:  

/s/ Lance Torgerson

Name:   Lance Torgerson
Title:   President

/s/ Lance Torgerson

Lance Torgerson

/s/ Richard Torgerson

Richard Torgerson

/s/ Tammy Torgerson

Tammy Torgerson

 

9

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