Teekay Offshore Partners' (TOO) CEO Ingvild Saether on Q3 2019 Results - Earnings Call Transcript

Teekay Partners L.P (TOO) Q3 2019 Earnings Conference Call November 7, 2019 12:00 PM ET

Company Participants

Ingvild Saether – President and Chief Executive Officer
Jan Rune Steinsland – Chief Financial Officer
Duncan Donaldson – General Counsel

Conference Call Participants

Sunil Sibal – Seaport Global Securities

Operator

Welcome to Teekay Offshore Partners Third Quarter 2019 Earnings Results Conference Call. During the call, all participants will be in a listen-only mode. [Operator Instructions] As a reminder this call is being recorded.

Now for opening remarks and introductions, I would like to turn the call over to Ingvild Saether, Teekay Offshore Group's President and Chief Executive Officer. Please go ahead.

Jan Rune Steinsland

Before Ingvild begins, I would like to direct all participants to our website at teekayoffshore.com, where you will find a copy of the third quarter 2019 earnings presentation. We will review this presentation during today's conference call.

Please allow me to remind you that our discussion today contains forward-looking statements. Actual results may differ materially from results projected by those forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the third quarter 2019 earnings release and earnings presentation that are available on our website.

I will now turn the call over to Ingvild to begin.

Ingvild Saether

Thank you, Jan Rune. Hello, everyone, and thank you for joining us on our third quarter 2019 earnings call. With me today I have Jan Rune Steinsland, CFO of Teekay Offshore Group and Duncan Donaldson, General Counsel of the Teekay Offshore Group.

Starting with Slide 3, our large and diversified portfolio of forward revenues stands at approximately $4.9 billion at the end of third quarter. This provides significant cash flow stability to Teekay Offshore and this is before including any contract