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

HAMILTON, Bermuda, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) TOO, has declared the following distributions:

Teekay Offshore's cash distributions are reported on Form 1099 for United States tax purposes.

About Teekay Offshore

Teekay Offshore Partners L.P. is a leading international midstream services provider to the offshore oil production industry, primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Teekay Offshore has consolidated assets of approximately $5.2 billion, comprised of 56 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers (including six newbuildings), floating storage and offtake (FSO) units, long-distance towing and offshore installation vessels, and a unit for maintenance and safety (UMS). The majority of Teekay Offshore's fleet is employed on medium-term, stable contracts.

Teekay Offshore's common units and preferred units trade on the New York Stock Exchange under the symbols "TOO", "TOO PR A", "TOO PR B" and "TOO PR E", respectively.

For Investor Relations

enquiries contact:

Jan Rune Steinsland, Chief Financial Officer

Tel: +47 97052533

Website: www.teekayoffshore.com