Report of Foreign Issuer (6-k)
October 31 2016 - 6:14AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
Date of
Report: October 27, 2016
Commission file number 1- 33198
TEEKAY OFFSHORE PARTNERS L.P.
(Exact name of Registrant as specified in its charter)
4
th
Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda
(Address of
principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40- F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).
Yes ☐ No ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).
Yes ☐ No ☒
Item 1 Information Contained in this Form 6-K Report
Attached as Exhibit 1 is a copy of an announcement of Teekay Offshore Partners L.P. dated October 27, 2016.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
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TEEKAY OFFSHORE PARTNERS L.P.
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By:
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Teekay Offshore GP L.L.C., its general partner
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Date: October 27, 2016
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By:
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/s/ Peter Evensen
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Peter Evensen
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Chief Executive Officer and Chief Financial Officer
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(Principal Financial and Accounting Officer)
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TEEKAY OFFSHORE PARTNERS CEO, CFO AND
BOARD MEMBER PETER EVENSEN TO RETIRE
Hamilton, Bermuda, October 27, 2016
Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (
Teekay
Offshore
or
the Partnership
) (NYSE: TOO), announced the following changes to its Board and management team:
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Peter Evensen, CEO, CFO and a Director of Teekay Offshore GP LLC, has informed the Partnership of his
intention to retire from these positions effective January 31, 2017, after 10 years with the Partnership. In addition, Mr. Evensen will also retire from his positions as President and Chief Executive Officer and a Director of Teekay
Corporation (
Teekay
), CEO, CFO and a Director of Teekay LNG Partners L.P.s general partner, and a Director of Teekay Tankers Ltd.
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Kenneth Hvid, the current President and CEO of Teekay Offshore Group Ltd. and a Director of Teekay Offshore,
has been appointed to succeed Mr. Evensen as President and CEO of Teekay upon Mr. Evensens retirement on January 31, 2017.
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Ingvild Sæther (48), will take over Mr. Hvids position as President and CEO of Teekay
Offshore Group Ltd., a management services company that will assume Mr. Evensens operational and strategic roles by providing services to the Partnerships subsidiaries (together with the Partnership,
the Teekay Offshore
Group
). Ms. Sæther currently is an Executive Committee Member and President, Teekay Offshore Logistics of Teekay Offshore Group Ltd., overseeing Teekays global shuttle tanker business as well as initiatives in the floating
storage offtake business and related offshore activities. Ms. Sæther joined Teekay in 2002 as a result of Teekays acquisition of Navion AS from Statoil ASA. Since joining Teekay, Ms. Sæther has held management positions
in Teekays conventional tanker business until 2007, when she assumed the commercial responsibility for Teekays shuttle tanker activities in the North Sea and in 2011, Ms. Sæther assumed the position of President, Teekay
Offshore Logistics. Ms. Sæther has over 25 years of experience in the shipping and offshore sector, and has been engaged in a number of boards and associations related to the industry.
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It has been an honor and a privilege to lead the Teekay Offshore Group, and I am confident that Ingvild Sæther will continue that
success, commented Mr. Evensen. Ingvild has led a team that has consistently improved the results from our shuttle tanker business as well as strategically positioned us well for future opportunities within this segment. As a highly
experienced leader, I am confident that Ingvild in this broader role will enable the teams to continue to create strong results.
On behalf of the entire Teekay Offshore GP LLC Board, I would like to thank Mr. Evensen for the significant contributions he has
made in growing Teekay Offshore to become one of the worlds largest shuttle tanker and FPSO owners and operators since its initial public offering 10 years ago, commented Mr. Sean Day, Chairman of Teekay Offshore GP LLCs Board
of Directors. Ms. Sæthers extensive experience in the industry will be instrumental as the Teekay Offshore Group continues to execute on its existing growth initiatives.
I am honored to take on this new opportunity and continue building on the Teekay Offshore Groups success, commented
Ms. Sæther. The Teekay Offshore Group is well-positioned with our market-leading businesses in the offshore oil production sector. We will continue to focus on providing strong operational performance, building our customer
relationships, strengthening our balance sheet, and delivering our conversion and newbuilding projects, which are expected to provide significant cash flow growth in the future.
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 $5.7 billion, comprised of 64 offshore assets, including floating production, storage and offloading (
FPSO
) units,
shuttle tankers, 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 Offshores fleet is
employed on medium-term, stable contracts.
Teekay Offshore Partners common units and 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
Forward Looking Statements
This release
contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect managements current views with respect to certain future events and performance, including statements
regarding: the timing of Mr. Evensens retirement; and the Partnerships growth projects, future results and growth opportunities. The factors discussed in Teekay Offshores filings from time to time with the United States
Securities and Exchange Commission, including its Report on Form 20-F for the fiscal year ended December 31, 2015, are among those that could cause actual results to differ materially from the forward-looking statements, which involve
risks and uncertainties, and these factors should be considered in evaluating any such statement. The Partnership expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to
reflect any change in the Partnerships expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.
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