Sponsorship by Teekay Corporation provides Teekay Offshore Partners with numerous benefits.

Financial strength
Teekay Corporation has over $2.8 billion of consolidated total liquidity and has reduced its net debt at the parent company level to less than approximately $550 million. This provides Teekay Corporation with the ability and flexibility to support Teekay Offshore in its growth, including the arrangement of transferrable debt facilities at favorable rates to finance assets dropped down to Teekay Offshore and participation in Teekay Offshore's follow-on equity offerings.

Operational excellence
As the majority shareholder, Teekay Corporation manages all Teekay Offshore assets and operations, including its marine systems and standards.

Built-in growth opportunities
Our parent Teekay Corporation owns four floating production, storage and offloading units and four shuttle tanker newbuilds suitable for drop down to Teekay Offshore Partners. 

Incentive distribution rights
As the general partner of Teekay Offshore, Teekay Corporation's interests are aligned with the limited partner unitholder interests through incentive distribution rights which provide Teekay Corporation with an increasing share of incremental distributable cash flow as Teekay Offshore grows.