Teekay Offshore Partners Announces Management Change
May 03 2018 - 4:11PM
Teekay Offshore Partners L.P. (NYSE:TOO) (Teekay Offshore or the
Partnership) announced today that David Wong will be stepping down
from his position as Chief Financial Officer of Teekay Offshore
Group Ltd. to commence a new opportunity outside of the Teekay
organization. Mr. Wong will continue with the Partnership
until August to assist with the transition while a search for his
replacement is conducted.
Ingvild Sæther, President and Chief Executive
Officer of Teekay Offshore Group Ltd. commented, "On behalf of our
board and leadership team, I want to thank David for his service
and dedication to Teekay Offshore and his efforts during the
Partnership’s transition from project execution, in a challenging
market environment, to now as we begin generating cash flows from
our recently-completed growth projects.”
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 63 offshore
assets, including floating production, storage and offloading
(FPSO) units, shuttle tankers, floating storage and offtake (FSO)
units, a unit 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 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:
Ryan HamiltonTel: +1 (604) 609-2963Website: www.teekay.com
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