Did You Experience Losses in Teekay Offshore Partners LP (TOO)?

Have you experienced investment losses due to your broker/financial advisor recommending the energy-related stock Teekay Offshore Partners LP (TOO)? Call Soreide Law Group for a no-cost consultation with a lawyer to discuss the possibility of recovering your losses at: 888-760-6550.
TOO’s 52-week range was 3.68 - 24.74.
Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, towing, and floating accommodation services to the offshore oil industry in the North Sea and Brazil. The company operates through four segments: Shuttle Tanker; Floating Production, Storage and OffLoading (FPSO); Floating Storage and Off-Take (FSO); and Conventional Tanker. As of April 02, 2015, it owned interests in 32 shuttle tankers, which included 2 chartered-in vessels and 1 vessel in lay up; 7 FPSO units; 6 FSO units; 1 hiload dynamic positioning unit; 10 long-haul towing and anchor handling vessels; 3 units for maintenance and safety; and 4 conventional oil tankers. Teekay Offshore GP L.L.C. serves as the general partner of Teekay Offshore Partners L.P. Teekay Offshore Partners L.P. was founded in 2006 and is headquartered in Hamilton, Bermuda.
The energy industry has been pummeled by weak oil prices. This weakness is starting to spill over into the credit market, making it tougher for energy companies to get funding. Funding worries were a contributing factor behind Teekay Corporation's decision to dramatically reduce its payout, as well as the payouts for its MLPs Teekay Offshore Partners (TOO) and Teekay LNG Partners (TGP). Teekay took the biggest hit after cutting its distribution 90%, primarily because its main source of income are distributions from Teekay Offshore and Teekay LNG Partners.

If you've suffered investment losses due to your broker or financial advisor's recommendations in high-risk oil and gas MLPs, call Soreide Law Group for a free consultation with an attorney: 888-760-6552.