- Teekay Offshore generated distributable cash flow of $51.1 million in Q1 2014, a 22% increase over Q1 2013. It declared a Q1 2014 cash distribution of $0.5384 per unit. - The company signed a letter of intent to acquire Logitel Offshore, which owns two floating accommodation units, expanding into that growing market. - It extended the charter for its Dampier Spirit FSO by 10 years, providing stable cash flow through 2024.