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

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| Source: Teekay Offshore Partners L.P.

HAMILTON, Bermuda, Oct. 03, 2017 (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 August 15, 2017 to November 14, 2017:

UnitsAmountRecord DatePayment Date
Series A Preferred Units$0.4531 per unitNovember 8, 2017November 15, 2017
Series B Preferred Units$0.5313 per unitNovember 8, 2017November 15, 2017

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 62 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.

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel:  +1 (604) 609-6442
Website: www.teekay.com