Teekay Offshore Partners L.P.

Teekay Offshore Partners L.P.

July 02, 2015 20:38 ET

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

HAMILTON, BERMUDA--(Marketwired - July 2, 2015) - 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) for the period from May 15, 2015 to August 15, 2015; and $0.6788 per unit on the Partnership's Series B preferred units (NYSE:TOO.PR.B) for the period from April 20, 2015 to August 15, 2015. Both cash distributions are payable on August 17, 2015 to all unitholders of record as at August 10, 2015.

About Teekay Offshore Partners L.P.

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 offshore oil industry focusing on the growing deepwater offshore oil regions of the North Sea, Brazil and East Coast Canada. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $5.5 billion, comprised of 64 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 preferred units trade on the New York Stock Exchange under the symbol "TOO", "TOO PR A" and "TOO PR B", respectively.

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