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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 a distribution of $0.11 per unit for the quarter ended June 30, 2016. The limited partner and general partner distributions payable to Teekay Corporation will be paid in the form of new common units while distributions to third party investors will be paid in cash. The distributions are payable on August 12, 2016 to all unitholders of record on July 29, 2016. Teekay Offshore's cash distributions are reported on Form 1099 for United States tax purposes.
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's common units trade on the New York Stock Exchange under the symbol "TOO".
FOR FURTHER INFORMATION PLEASE CONTACT:
For Investor Relations enquiries contact:
Ryan Hamilton
+1 (604) 609-6442
www.teekay.com
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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