LONDON, UK / ACCESSWIRE / October 9, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Teekay Offshore Partners L.P. (NYSE: TOO), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=TOO. Randgrid FSO, charter tankers from one of Teekay Offshore Partners L.P. (NYSE: TOO) ("the Company"), commenced its charter contract with Statoil ASA (NYSE: STO) (Statoil) on the Gina Krog oil and gas field in the Norwegian sector of the North Sea. Randgrid FSO has been converted from one of the Partnership's shuttle tankers at Sembcorp's Sembawang shipyard in Singapore. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TOO and STO. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=TOO

http://protraderdaily.com/optin/?symbol=STO

The Randgrid FSO is expected to be a strategic partnership with Statoil and a significant milestone in Teekay Offshore's FSO franchise as the start-up of the largest FSO project to-date. This FSO alone is expected to contribute an annual cash flow of $60 million during the firm period of the charter contract.

The Company also has more charter contracts lined up with an amendment signed with PetroJarlI FPSO with a start-up in Q1 2018. It has also entered into shipbuilding contract to construct two Suezmax DP2 shuttle tankers.

The Company has also strengthened its financial position and fully financed Partnership's existing growth projects. It has stabilized its equity base with new shares at $2.50 per unit issued to Brookfield at a value of $610 million. It has also sold the existing $200 million parent loan book to Brookfield at a discount to par and the loan maturities have been extended to 2022.

Competition

The competition in the FSO market is between conventional tanker owners, with access to tankers available for conversion, and oilfield services companies and oilfield engineering and construction companies who compete in the floating production system market. Competition in the FSO market is logically based on price, with expertise par excellence in FSO operations, management of FSO conversions, and relationships with shipyards, as well as the ability to access vessels for conversion that meet customer specifications.

Dividend Distribution

On October 03, 2017, Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. declared a distribution of $0.01 per unit for the quarter ended September 30, 2017. The distribution is payable on November 10, 2017, to all unit-holders of record on November 03, 2017.

About the Company

Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services to the oil industry, primarily focusing on oil production-related activities of its customers and operating in offshore oil regions of the North Sea, Brazil, and the East Coast of Canada.

Teekay Offshore Partners is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $5.6 billion, comprised of 62 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers, floating storage and offtake (FSO) units, units for maintenance and safety (UMS), long-distance towing and offshore installation vessels and conventional tankers.

Last Close Stock Review

On Friday, October 06, 2017, the stock closed the trading session at $2.50, slightly rising 0.40% from its previous closing price of $2.49. A total volume of 287.74 thousand shares have exchanged hands. Teekay Offshore Partners' stock price advanced 3.73% in the last one month and 2.88% in the past three months. The stock is trading at a PE ratio of 4.24 and has a dividend yield of 1.60%. The stock currently has a market cap of $387.75 million.

On Friday, October 06, 2017, the stock closed the trading session at $19.88, marginally falling 0.70% from its previous closing price of $20.02. A total volume of 2.96 million shares have exchanged hands, which was higher than the 3-month average volume of 1.66 million shares. Statoil ASA's stock price surged 20.56% in the last three months, 15.58% in the past six months, and 16.46% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 8.99%. The stock has a dividend yield of 4.43%. At Friday's closing price, the stock's net capitalization stands at $65.07 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily