Teekay Offshore Changes Name

March 24, 2020

World Energy Reports LLC.
Aurora Spirit (2).jpg

Teekay Offshore Partners L.P., a provider of offshore oil production and storage vessels for the offshore oil and gas industry, has changed its name.

The company announced Tuesday its name has changed to Altera Infrastructure L.P. effective 24 March 2020. The move comes following the recent acquisition of the company by Brookfield Business Partners L.P.

The group of entities comprising of the company's affiliates and subsidiaries (formerly referred to as Teekay Offshore) is rebranding to Altera Infrastructure, the company said.

The company's preferred units, which previously traded on the New York Stock Exchange (“NYSE”) under the ticker symbols “TOO PR A”, “TOO PR B” and “TOO PR E”, respectively, now trade on NYSE under the new ticker symbols “ALIN PR A”, “ALIN PR B” and “ALIN PR E”.

Ingvild Saether, President & Chief Executive Officer, Altera Infrastructure Group Ltd: “In support of our new vision to lead the industry to a sustainable future, we are establishing a global energy infrastructure services business that will create long term value for its stakeholders.

Upholding our uncompromised commitment to operational excellence and safety, we will be relentless in our pursuit of opportunities that lead to strong results and lower emissions and we stand firm to these principles through the current period of market volatility. There will be a transition in our part of the industry, and we are committed to be at the forefront.”

Saether did not elaborate on how Altera would contribute to the energy transition.

The company, now under the name Altera Infrastructure, owns and operates shuttle tankers, FPSO, and ocean-going tugs, and installation vessels, with a focus on offshore oil regions of the North Sea, Brazil and the East Coast of Canada.

According to the company, the majority of Altera Infrastructure’s fleet is employed on medium-term, stable contracts.

The company's new logo - Credit: Altera Infrastructure

Floating Production Week delivers unrivaled overview, insight and analysis to the Offshore Floating Production Systems and Technology market

Floating Production Systems Report And Online Database

  • Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the forecast and make revisions as needed.
  • Online database -- The online database is updated every day – with information direct from primary sources. In the database are details for 240 planned projects, 370 installations in service, 70+ floaters on order and 20+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database.
  • Customer support -- We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

Request a Free Sample Report