Teekay Offshore Partners has exceeded its own expectations in the first quarter as it bounced back to a positive result.
The master limited partnership (MLP) reported net income of $18.9m, overturning a $4.4m loss in the same stage of 2016.
Ingvild Saether, chief executive of Teekay Offshore, said: “The partnership’s first quarter of 2017 results were better than our expectations, driven mainly by higher cash flow generated by our shuttle tankers and FPSO fleets.”
