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Stock Market & Financial Investment News

News Breaks
January 10, 2014
16:16 EDTTOOTeekay Offshore Partners files to sell 1.75M common units for holders
Units represent limited partner interests.
News For TOO From The Last 14 Days
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December 17, 2014
17:21 EDTTOOTeekay Offshore awarded new contract in Brazil, will acquire floating unit fromTeekay
Teekay Offshore (TOO) has entered into an agreement with a consortium led by Queiroz Galvao Exploracao e Producao SA to provide a floating production, storage and offloading - or FPSO - unit for the Atlanta field located in the Santos Basin offshore Brazil. In connection with the contract with QGEP, Teekay Offshore has agreed to acquire the Petrojarl I FPSO from Teekay (TK) for $57M. Subsequent to the acquisition, the FPSO will undergo upgrades for a fully built-up cost of approximately $240M, including the cost of acquiring the Petrojarl I. The FPSO is scheduled to commence operations in 1H16 under a five-year charter contract with QGEP. The charter contract is expected to generate annual cash flow from vessel operations of $55M-$60M. The Petrojarl I FPSO will be used on the Atlanta field located 185 km offshore from the Brazil coast. The acquisition of the Petrojarl I is expected to close by the end of January 2015.
December 10, 2014
15:56 EDTTOOGoldman Sachs reports 11.2% passive stake in Teekay Offshore Partners
December 9, 2014
12:30 EDTTOOWells Fargo to hold a symposium
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