HAMILTON, BERMUDA–(Marketwired – July 1, 2016) – Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO), has declared cash distributions of $0.4531 per unit on the Partnership’s Series A preferred units (NYSE:TOO.PR.A) and $0.5313 per unit on the Partnership’s Series B preferred units (NYSE:TOO.PR.B) for the period from May 15, 2016 to August 14, 2016. In addition, the Partnership has declared distributions of $0.5149 per unit on the Partnership’s privately held Series C-1 convertible preferred units and $0.3354 per unit on the Partnership’s privately held Series D preferred units, which will both be paid in the form of new common units, for the periods from May 15, 2016 to August 14, 2016 and June 29, 2016 to August 14, 2016, respectively. All distributions are payable on August 15, 2016 to all unitholders of record as at August 8, 2016.
About Teekay Offshore
Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the oil industry, primarily focusing on oil production-related activities of its customers and operating in offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $6 billion, comprised of 65 offshore assets, including shuttle tankers, floating production, storage and offloading (FPSO) units, floating storage and offtake (FSO) units, units for maintenance and safety (UMS), long-distance towing and offshore installation vessels and conventional tankers. The majority of Teekay Offshore’s fleet is employed on medium-term, stable contracts.
Teekay Offshore Partners’ common units and Series A and B preferred units trade on the New York Stock Exchange under the symbol “TOO”, “TOO PR A” and “TOO PR B”, respectively.