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SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)*

 

 

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)

October 15, 2021

(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

 

  1,559,152

  9     

  SOLE DISPOSITIVE POWER

 

  -0-

  10     

  SHARED DISPOSITIVE POWER

 

  1,559,152

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  1,559,152

12    

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

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  10.89%

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

 

  466,284

  9     

  SOLE DISPOSITIVE POWER

 

  -0-

  10     

  SHARED DISPOSITIVE POWER

 

  466,284

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  466,284

12    

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

 

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  3.26%

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

 

  466,284 (1)

  9     

  SOLE DISPOSITIVE POWER

 

  -0-

  10     

  SHARED DISPOSITIVE POWER

 

  466,284 (1)

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  466,284 (1)

12    

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

 

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  3.26%

14    

  TYPE OF REPORTING PERSON

 

  CO

 

(1) 

Svenco Investments Ltd. may be deemed to be the beneficial owner of 466,284 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

 

  2,025,436 (2)

  9     

  SOLE DISPOSITIVE POWER

 

  -0-

  10     

  SHARED DISPOSITIVE POWER

 

  2,025,436 (2)

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  2,025,436 (2)

12    

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

 

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  14.15%

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

 

  2,025,436 (3)

  9     

  SOLE DISPOSITIVE POWER

 

  -0-

  10     

  SHARED DISPOSITIVE POWER

 

  2,025,436 (3)

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  2,025,436 (3)

12    

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

 

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  14.15%

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

 

  1,559,152 (4)

  9     

  SOLE DISPOSITIVE POWER

 

  -0-

  10     

  SHARED DISPOSITIVE POWER

 

  1,559,152 (4)

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  1,559,152 (4)

12    

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

 

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  10.89%

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. 4 TO SCHEDULE 13D

This Amendment No. 4 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 14,316,274 of the Issuer’s Common Shares outstanding as of July 26, 2021, as reported in the Issuer’s quarterly report for the period ending June 30, 2021 on the Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on July 30, 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. 4 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		  

March-29-2021

      Sale        11,508        393        11,901      $ 15.87  

March-30-2021

      Sale        10,583        362        10,945      $ 15.43  

March-31-2021

      Sale        10,583        362        10,945      $ 15.34  

April-01-2021

      Sale        10,423        356        10,779      $ 15.48  

April-05-2021

      Sale        4,418        151        4,569      $ 15.68  

April-06-2021

      Sale        9,865        337        10,202      $ 16.20  

April-07-2021

      Sale        9,889        338        10,227      $ 15.96  

April-08-2021

      Sale        9,184        312        9,496      $ 15.96  

April-09-2021

      Sale        2,002        68        2,070      $ 16.22  

Sept-15-2021

      Sale        4,682        694        5,376      $ 22.66  

Sept-16-2021

      Sale        4,926        730        5,656      $ 22.39  

Sept-17-2021

      Sale        5,017        743        5,760      $ 22.43  

Sept-20-2021

      Sale        4,785        709        5,494      $ 21.60  

Sept-21-2021

      Sale        4,957        734        5,691      $ 21.86  

Sept-22-2021

      Sale        4,882        723        5,605      $ 22.64  

Sept-23-2021

      Sale        4,708        697        5,405      $ 22.82  

Sept-24-2021

      Sale        4,636        687        5,323      $ 23.39  

 

8

Sept-27-2021

      Sale        4,827        715        5,542      $ 23.68  

Sept-28-2021

      Sale        4,897        725        5,622      $ 23.11  

Sept-29-2021

      Sale        4,956        734        5,690      $ 22.89  

Sept-30-2021

      Sale        4,512        669        5,181      $ 22.66  

Oct-1-2021

      Sale        4,322        640        4,962      $ 22.49  

Oct-4-2021

      Sale        4,135        613        4,748      $ 22.17  

Oct-5-20201

      Sale        4,427        656        5,083      $ 21.90  

Oct-6-2021

      Sale        4,464        661        5,125      $ 21.38  

Oct-7-2021

      Sale        4,466        662        5,128      $ 21.33  

Oct-8-2021

      Sale        4,531        671        5,202      $ 21.46  

Oct-11-2021

      Sale        4,721        699        5,420      $ 22.00  

Oct-12-2021

      Sale        4,915        728        5,643      $ 22.13  

Oct-13-2021

      Sale        5,102        756        5,858      $ 22.11  

Oct-14-2021

      Sale        4,925        730        5,655      $ 22.40  

Oct-15-2021

      Sale        4,861        720        5,581      $ 22.99  

(d) Not applicable.

(e) Not applicable.

 

9

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: October 18, 2021

 

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

 

10