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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;

Stock News for Teekay Shipping (TK)
09/29/201515:14:43Amended Report of Foreign Issuer (6-k/a)
08/31/201515:08:29Report of Foreign Issuer (6-k)
08/18/201515:03:00Report of Foreign Issuer (6-k)
07/07/201519:13:02These Stocks Just Raised Their Dividends
06/12/201516:26:37Report of Foreign Issuer (6-k)
06/10/201511:30:53Amended Statement of Ownership (sc 13g/a)
05/22/201511:58:11Report of Foreign Issuer (6-k)
05/01/201506:17:45Report of Foreign Issuer (6-k)
04/29/201517:23:59Annual and Transition Report (foreign Private Issuer) (20-f)
03/24/201516:09:09Norway Authority to Probe Fire at BG Group Field--Update
03/24/201506:38:17BG Group's Knarr Oil Field Shut Down After Fire
02/25/201516:58:58Report of Foreign Issuer (6-k)
02/17/201509:16:52Amended Statement of Ownership (sc 13g/a)
02/11/201516:38:13Amended Statement of Ownership (sc 13g/a)
12/15/201415:54:53Report of Foreign Issuer (6-k)
12/05/201414:59:48Amended Report of Foreign Issuer (6-k/a)
11/14/201414:23:12Report of Foreign Issuer (6-k)
11/12/201402:07:44Port Hedland Strike Averted After Australian Commission Intervenes

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