Teekay reports third quarter results

TEEKAY Offshore has reported its financial results for the quarter ended September 30.

These included:

• Revenues of US$299.4m and a net loss of US$34.8m, or $0.10 per common unit
• Adjusted net income attributable to the partners and preferred unitholders of $4.7m and an adjusted net loss attributable to the limited partners’ interest of $0.01 per common unit (excluding items listed in Appendix B to this release)
• Adjusted EBITDA(1) of $157.7m
• Entered into an agreement and plan of merger with Brookfield
• Completed a number of financing and refinancing activities including the issuance of $125m of senior unsecured Green Bonds due in October 2024 and a $120m U.S. private placement of notes due in September 2027

Entered into a shipbuilding contract with Samsung Heavy Industries to build a shuttle tanker newbuilding for the East Coast of Canada operations