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Teekay Offshore Partners generates stable cash flows through a diversified portfolio of medium-term (3-10 years), fixed-rate contracts with major oil companies.
TOO is the world’s largest owner and operator of shuttle tankers with over 50 percent of the worldwide fleet and a market leading position in the North Sea and expanding operations in Brazil.
Offshore production is expected to represent more than 35 percent of world oil production by 2015.
Sponsorship by Teekay Corporation provides built-in opportunities for growth, financial strength and the ability to leverage operation expertise.
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Teekay Offshore Partners trades on the New York Stock Exchange under the symbol “TOO”.
Teekay Offshore’s business strategy can be found here.
An MLP is a type of limited partnership that is publicly traded.
There are two types of partners in this type of partnership: The limited partner is a passive partner that provides the capital to the MLP and receives periodic income distributions from the MLP's cash flow, whereas the general partner actively manages the MLP's affairs and receives compensation that is linked to the performance of the venture.
Teekay Offshore Operating L.P. (OPCO) is a Marshall Islands limited partnership. In early March 2011, Teekay Offshore Partners acquired the remaining 49 percent interest in OPCO that it did not previously own from Teekay Corporation and OPCO is now a wholly-owned subsidiary of Teekay Offshore Partners.
Why Invest?Learn about TOO investment highlights, relationship with Teekay Corporation & more
Our Fleet at Work Use our interactive map to see our FPSOs, FSOs, shuttle tankers and Aframaxes at work around the world
Watch: An FPSO and a Shuttle Tanker at WorkClick here to watch our FPSO and Shuttle Tanker animation