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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; [email protected]

Stock News for Teekay Shipping (TK)
02/24/201714:48:29Report of Foreign Issuer (6-k)
02/15/201710:24:20Amended Statement of Ownership (sc 13g/a)
02/14/201712:11:31Statement of Ownership (sc 13g)
12/19/201613:44:00Robbins Arroyo LLP: Teekay Corporation (TK) Misled Shareholders...
12/09/201614:06:47Report of Foreign Issuer (6-k)
11/03/201616:03:51Report of Foreign Issuer (6-k)
10/31/201606:14:31Report of Foreign Issuer (6-k)
09/21/201617:21:05Amended Report of Foreign Issuer (6-k/a)
09/12/201606:03:19Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
09/12/201606:02:49Report of Foreign Issuer (6-k)
09/06/201606:02:02Notice of Effectiveness (effect)
09/01/201615:06:05Report of Foreign Issuer (6-k)
08/22/201606:02:17Notice of Effectiveness (effect)
08/19/201616:23:21Securities Registration (foreign Private Issuer) (f-3)
08/16/201606:07:12Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
08/15/201617:24:14Securities Registration (foreign Private Issuer) (f-3/a)
08/15/201606:01:54Notice of Effectiveness (effect)
08/11/201617:04:46Amended Securities Registration (foreign Private Issuer) (f-4/a)
08/11/201615:13:07Report of Foreign Issuer (6-k)
08/09/201615:32:28Report of Foreign Issuer (6-k)

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