Teekay Offshore Partners (TOO) Tops Q1 EPS Views

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Go back to Teekay Offshore Partners (TOO) Tops Q1 EPS Views

Teekay Offshore Partners Reports First Quarter 2016 Results

May 19, 2016 1:45 AM EDT

HAMILTON, BERMUDA -- (Marketwired) -- 05/19/16 -- Highlights

-- Generated distributable cash flow(1) of $62.0 million, or $0.58 per common unit, in the first quarter of 2016. -- Generated cash flow from vessel operations(2) of $166.1 million in the first quarter of 2016, an increase of 22 percent from the same period of the prior year. -- Declared first quarter 2016 cash distribution of $0.11 per common unit. -- Executing on financing initiatives to address Teekay Offshore's 2016 and 2017 funding requirements, which the Partnership expects to finalize in June 2016. -- Completed the sale of two conventional tankers and one shuttle tanker for total gross proceeds of approximately $55... More