Teekay Offshore Partners Announces Appointment of New CFO
July 23 2018 - 6:58AM
Teekay Offshore GP LLC, the general partner of Teekay Offshore
Partners L.P. (NYSE:TOO) (Teekay Offshore or the Partnership)
announced today that Mr. Jan Rune Steinsland has been appointed the
new Chief Financial Officer (CFO) of Teekay Offshore Group Ltd., a
management services company that provides services to the
Partnership’s subsidiaries (together with the Partnership, the
Teekay Offshore Group) effective September 3, 2018. The
Partnership’s interim CFO, Tim Cowan, will step down effective
September 3, 2018, but will remain with the Partnership for a
period of time to ensure a smooth transition.
Mr. Steinsland brings approximately 30 years of
energy and offshore industry experience, including most recently
serving as CFO of drilling contractor Songa Offshore SE, where he
was a member of the senior management team and oversaw strategic
financial planning and reporting, and established a proven track
record of accretive contract renegotiations and raising capital
from various sources, including commercial debt and the debt and
equity capital markets.
“Jan Rune’s extensive financial experience
gained through his role as CFO with several listed international
companies and deep knowledge of the offshore energy industry makes
him well-suited to serve as our CFO,” commented Ingvild Sæther,
President and Chief Executive Officer of Teekay Offshore Group Ltd.
“In addition, his proven track record in negotiations with
yards and customers, as well as developing robust financial
strategies, makes him a strong addition to the Teekay Offshore
leadership team.”
Ms. Sæther continued, “On behalf of the Board of
Directors and senior leadership team, I would like to thank Tim for
his significant contributions as our interim CFO and for his
assistance in ensuring a seamless transition as we welcome Jan Rune
on board.”
About Teekay Offshore
Teekay Offshore Partners L.P. is a leading
international midstream services provider to the offshore oil
production industry, 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 is
structured as a publicly-traded master limited partnership (MLP)
with consolidated assets of approximately $5.7 billion, comprised
of 62 offshore assets, including floating production, storage and
offloading (FPSO) units, shuttle tankers, floating storage and
offtake (FSO) units, long distance towing and offshore installation
vessels, a floating accommodation unit (FAU), 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
Teekay Offshore Partners (NYSE:TOO)
Historical Stock Chart
From May 2024 to Jun 2024
Teekay Offshore Partners (NYSE:TOO)
Historical Stock Chart
From Jun 2023 to Jun 2024