Civeo adds two directors in cooperation agreement with Engine Capital

Civeo Corporation (NYSE: CVEO) appointed Jeffrey B. Scofield and Daniel B. Silvers to its board of directors, effective immediately, as part of a cooperation agreement with Engine Capital LP and its affiliates.

Scofield will serve on the audit and finance and investment committees, while Silvers will join the compensation and environmental, social, governance and nominating committees. The appointments temporarily increase the board to 11 directors. Two incumbent directors will not stand for reelection at the company's 2026 annual meeting, returning the board to nine directors, eight of whom will be independent.

Scofield serves as chief operating officer and managing director of Lime Rock Partners, a private equity firm focused on upstream oil and gas investments. Since joining Lime Rock in 2005, he has helped guide the firm's growth to more than $7 billion in total capital commitments. He previously served as an independent director of Covia Corporation and as lead independent director of Sponsor Bearkat II Holdings.

Silvers founded and serves as managing member of Matthews Lane Capital Partners LLC, an investment firm, since 2015. He also serves as executive chairman of Winventory, Inc. since January 2024. Previously, he held executive positions at Inspired Entertainment, Inc. and served as CEO of Leisure Acquisition Corp. He has served on multiple public company boards, including ModivCare, Inc. since April 2025.

"We invested in Civeo because we believe in the Company's growth profile in key markets and its strong customer relationships," said Arnaud Ajdler, founder and managing member of Engine Capital.

The cooperation agreement includes customary standstill, voting and other provisions. The full agreement will be filed on Form 8-K with the Securities and Exchange Commission.

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