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

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HAMILTON, Bermuda, July 25, 2019 (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:

Units Distribution Period Amount (Per Unit) Record Date Payment Date
Series A
Preferred Units
May 15, 2019 to August 14, 2019 $0.4531 August 8, 2019 August 15, 2019
Series B
Preferred Units
May 15, 2019 to August 14, 2019 $0.5313 August 8, 2019 August 15, 2019
Series E
Preferred Units
May 15, 2019 to August 14, 2019 $0.5547 August 8, 2019 August 15, 2019

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 57 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
Tel: +47 97052533
Website: www.teekayoffshore.com

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