Recent Highlights Generated distributable cash flow* of 58.3 million in Q2-15 Coverage ratio of 1.06x Declared Q2-15 cash distribution of 0.5384 per unit Management recommending a 4% cash distribution increase to the Board of…
Completed Knarr FPSO Acquisition Acquired the Knarr for 1.26 billion from Teekay Corp on July 1, 2015 Fully-financed with assumed debt (745 million), 300 million common unit issuance to Teekay Corp and a 250 million convertible…
Units for Maintenance and Safety (UMS) Arendal Spirit commenced its 3+3-year TOO delayed the delivery dates for charter with Petrobras in June 2015 UMS 2 and 3 to better match expected charter contract awards Strong focus from oil…
East Coast Canada Shuttle Contracts Teekay Offshore has taken over as operator and is now the sole supplier of shuttle tanker services for East Coast Canada (ECC): 15-year contracts (plus extension options) Flemish Pass More…
Stable Portfolio of Fee-Based Contracts With Strong Customer Base Forward Fee-Based Revenues Average Remaining Contract Length by Segment* by Segment* FPSO 5.4 years FSO 5.2 years 35% 8.4B Shuttle 5.0 years Total Forward…
TOOs Earnings Insulated from Oil Price Volatility TOOs fee-based businesses are primarily focused on the production side of the oil value chain with no direct commodity exposure Shuttle FPSOs FSOs Tankers Exploration Production…
Q3 2015 Outlook Teekay Offshore Partners Distributable Cash Flow Q3 2015 Item Outlook 56m increase from the Knarr FPSO, acquired from Teekay Corporation on July 1, 2015; 11m increase from the delivery of the Arendal Spirit UMS…
TOO Cash Flows are Stable and Growing Large and diversified portfolio of fixed- Longer-term, offshore oil rate charter contracts production will be needed to rebuild reserves No direct commodity price exposure High switching costs,…
TOO CAPEX Financing On-Track Debt costs, which make-up 65-80% of asset financing have reduced, partially offsetting higher cost of equity Committed CAPEX typically spread-out over multiple years and tail- weighted Large portion of…
Continued Access to Capital Strong support from banks/ECAs to finance quality projects, as illustrated by recently completed FPSO financings: 800 million Libra FPSO debt financing: Support from 7 international banks Libra FPSO…
Strong Visible Growth Pipeline Supports Future TOO Distribution Increases Continue to bid on offshore projects and on-the-water acquisitions Known Growth Capex by Segment 2014 2015 2016 2017 2018 Dropdown 30% FPSOs (Estimated)…
Appendix 15
Adjusted Operating Results Q2-15 Three Months Ended June 30, 2015 Reclass for Realized UNAUDITED Appendix A items Gains/Losses on TOO Adjusted Income As Reported (in thousands of US dollars) (1) Derivatives Statement (2) NET…
Adjusted Operating Results Three Months Ended Q1-15 March 31, 2015 Reclass for Appendix A Realized TOO Adjusted UNAUDITED As Reported items Gains/Losses on Income (in thousands of US dollars) (1) Derivatives Statement (2) NET…
2015 Drydock Schedule 2015 Drydock/Offhire Schedule TOO (TSO) March 31, 2015 (A) June 30, 2015 (A) September 30, 2015 (E) December 31, 2015 (E) Total 2015 Total Total Total Total Total Vessels Off-hire Vessels Off-hire Vessels…
Loading...
