Teekay Offshore Partners is poised to pursue fleet expansion following a profitable first quarter.

CEO, Peter Evensen.
New York-quoted TOO pocketed $54.6m in the three months to 31 March, against a gain of nearly $44m in the same period a year prior.

On an adjusted basis net income weighed in at $26.1m, versus an adjusted profit of $22.1m in the first quarter of 2011.

TOO’s