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Teekay Offshore Enters Pact With BG Group For Tanker Services

DOW JONES NEWSWIRES Teekay Offshore Partners LP (TOO) said it entered into a long-term contract with a subsidiary of U.K.-based energy company BG Group PLC (BRGYY, BG.LN) to provide shuttle tanker services in Brazil. The master limited partnership's contract with BG will be serviced by four Suezmax-size DP2 shuttle-tanker newbuildings to be constructed by South Korea's Samsung Heavy Industries Co. (010140.SE). Upon expected delivery in mid- to late-2013, the vessels will commence operations under 10-year time charters. Teekay Offshore Chief Executive Peter Evensen said the new time charters with BG further strengthened the company's position in the fast-growing Brazilian offshore market. He said the deal would increase the company's Brazil-based shuttle-tanker fleet size by about 30%. The company, formed by Teekay Corp. (TK), owns 40 shuttle tankers that allow it to transport oil from offshore fields to onshore processing facilities. Teekay Offshore's shares closed up 0.9% to $28.58 and were inactive after hours. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Teekay Shipping (TK)
DateTimeHeadline
07/01/201612:20:54Amended Statement of Beneficial Ownership (sc 13d/a)
06/30/201606:15:07Report of Foreign Issuer (6-k)
05/31/201617:11:01Report of Foreign Issuer (6-k)
05/24/201617:02:19Report of Foreign Issuer (6-k)
05/19/201608:08:37Report of Foreign Issuer (6-k)
05/18/201616:46:24Amended Securities Registration (foreign Private Issuer) (f-4/a)
05/02/201617:15:33Securities Registration (foreign Private Issuer) (f-4)
05/02/201611:25:00DEADLINE TODAY: Levi & Korsinsky, LLP Reminds Shareholders of...
04/29/201617:06:49Report of Foreign Issuer (6-k)
04/29/201614:31:00Deadline Alert: Law Offices of Howard G. Smith Reminds Investors...
04/29/201614:14:10Scott+Scott, Attorneys at Law, LLP Reminds Investors of Upcoming...
04/28/201618:10:32ALERT: Rosen Law Firm Reminds Teekay Corporation Investors of...
04/27/201612:19:06INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of...
04/26/201616:43:49Annual and Transition Report (foreign Private Issuer) (20-f)
04/26/201611:32:00Scott+Scott, Attorneys at Law, LLP Reminds Investors of Upcoming...
04/20/201613:04:00SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders...
04/15/201622:03:00The Former Attorney General of Louisiana & Kahn Swick & Foti...
04/15/201613:00:00SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notifies Investors...
04/14/201618:25:29DEADLINE ALERT: Rigrodsky & Long, P.A. Reminds Shareholders Of...
04/14/201614:27:25TEEKAY SHAREHOLDER ALERT – TK: Kessler Topaz Meltzer & Check, L...

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