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Teekay Offshore Partners Declares Distributions on Series A and B Preferred Units

HAMILTON, Bermuda, Jan. 04, 2018 (GLOBE NEWSWIRE) -- Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO), has declared the following distributions for the period from November 15, 2017 to February 14, 2018:

Units

Amount

Record Date

Payment Date

Series A Preferred Units

$0.4531 per unit

February 8, 2018

February 15, 2018

Series B Preferred Units

$0.5313 per unit

February 8, 2018

February 15, 2018

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 $5.6 billion, comprised of 63 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's common units and the 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.

/EIN News/ -- For Investor Relations
enquiries contact:

Ryan Hamilton
Tel:  +1 (604) 609-2963
Website: www.teekay.com

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