TOO Teekay Offshore Partners LP

Teekay Offshore Partners (Teekay Offshore or the Partnership) (NYSE: TOO) plans to release its financial results for the first quarter of 2011 before market open on Thursday, May 12, 2011.

The Partnership also plans to host a conference call on Friday, May 13 at 1:00 p.m. (ET) to discuss the results for the first quarter of 2011. All unitholders and interested parties are invited to listen to the live conference call by choosing from the following options:

--  By dialing (866) 322-8032 or (416) 640-3406, if outside North America,
    and quoting conference ID code 5531030.
--  By accessing the webcast, which will be available on Teekay Offshore's
    Web site at www.teekayoffshore.com (the archive will remain on the Web
    site for a period of 30 days).

A supporting First Quarter 2011 Earnings Presentation will also be available at www.teekayoffshore.com in advance of the conference call start time.

The conference call will be recorded and available until Friday, May 20, 2011. This recording can be accessed following the live call by dialing (888) 203-1112 or (647) 436-0148, if outside North America, and entering access code 5531030.

About Teekay Offshore Partners L.P.

Teekay Offshore Partners L.P., a publicly-traded master limited partnership formed by Teekay Corporation (NYSE: TK), is an international provider of marine transportation, oil production and storage services to the offshore oil industry. Teekay Offshore operates a fleet of 35 shuttle tankers (including five chartered-in vessels), two FPSO units, five FSO units, nine double-hull conventional oil tankers and two lightering vessels. The Partnership has also agreed to acquire one additional newbuilding shuttle tanker from Teekay Corporation upon the commencement of its respective time-charter contract in mid-2011. Teekay Offshore also has rights to participate in certain other FPSO opportunities.

Teekay Offshore's common units trade on the New York Stock Exchange under the symbol "TOO".

Contacts: Teekay Offshore Partners L.P. Kent Alekson Investor Relations Enquiries +1 (604) 609-6442 www.teekayoffshore.com