Tidewater (TDW) 8-K Regulation FD Disclosure

February 6, 2007

2007 Credit Suisse Energy Summit

Dean E. Taylor –

Chairman, President & CEO

Joseph M. Bennett –

Senior VP, Principal Accounting Officer, Chief Investor Relations Officer

Exhibit 99.1

2

TIDEWATER

601 Poydras Street, Suite 1900

New Orleans, LA 70130

Phone: 504.568.1010

Fax: 504.566.4580

Web site address: www.tdw.com

Email: connect@tdw.com

In

accordance

with

the

safe

harbor

provisions

of

the

Private

Securities

Litigation

Reform

Act

of

1995,

the

Company

notes

that

certain

statements

set

forth

in

this

presentation

provide

other

than

historical

information

and

are

forward

looking.

The

actual

achievement

of

any

forecasted

results,

or

the

unfolding

of

future

economic

or

business

developments

in

any

way

anticipated

or

projected

by

the

Company,

involve

many

risks

and

uncertainties.

Among

those

risks

and

uncertainties,

many

of

which

are

beyond

the

control

of

the

Company,

are:

fluctuations

in

oil

and

gas

prices;

the

level

of

fleet

additions

by

competitors

and

vessel

overcapacity;

changes

in

levels

of

capital

spending

in

domestic

and

international

markets

by

customers

in

the

energy

industry

for

exploration,

development

and

production;

unsettled

political

conditions,

civil

unrest

and

governmental

actions,

especially

in

higher

risk

countries

of

operations;

changing

customer

demands

for

different

vessel

specifications;

acts

of

terrorism;

unsettled

political

conditions,

war,

civil

unrest

and

governmental

actions,

especially

in

higher

risk

countries

of

operations;

foreign

currency

fluctuations;

and

environmental

and

labor

laws.

Participants

should

consider

all

of

these

risk

factors

as

well

as

other

information

contained

in

the

Company’s

form

10-K’s

and

10-Q’s.

FORWARD-LOOKING*STATEMENTS

3

Our Workplace

4

18

10

8

9

5

5

4

1

1

0

4

8

12

16

20

1998

1999

2000

2001

2002

2003

2004

2005

2006

Lost Time Accidents

Fiscal Years

5

Total Recordable Incident Rates

Calendar Years

1.5

0

0.5

1

2001

2002

2003

2004

2005

TIDEWATER

DOW CHEMICAL

DUPONT

EXXON/MOBIL

BP

“Safest Company In The Industry”

6

Tidewater

Largest new fleet in the industry …

and counting

Second highest dividend yield of the OSX

(One of the) strongest balance sheets of the OSX (no net

debt)

Authority to repurchase common shares

International, International, International …. also Gulf of

Mexico.

First call consensus earnings FYE ’07: $ 5.79 per share

7

…

And Also

Favorable, yet volatile, commodity prices

E&P spending up

Rig count up

New rig construction

Strong demand in virtually all areas of operation

Growing financial effect of “new”

fleet

Favorable tax changes

Active Vessel Count By Region

(excludes stacked vessels)

A Strong Global Presence

North

America

51 (14%)

Central/

South

America

107 (28%)

West

Africa

135 (36%)

Europe/M.E.

36 (10%)

Far East

45 (12%)

Vessel count above includes only active vessels

8

79%

of fiscal 2006 and

78%

of YTD fiscal 2007

revenue generated in

international markets

Areas of Opportunity

Grow International Market Share

9

10

International Vessel

Dayrates and Utilization

$100 change in dayrate = $10.1M in revenue

1% change in utilization = $10.5M in revenue

40%

50%

60%

70%

80%

90%

12/03

3/04

6/04

9/04

12/04

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

$5,000

$5,500

$6,000

$6,500

$7,000

$7,500

$8,000

$8,500

11

International Dayrates

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

12/03

3/04

6/04

9/04

12/04

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

Remaining Vessels

New Vessels

12

0%

6%

12%

18%

24%

30%

36%

42%

Fiscal 2005

Fiscal 2006

Nine Months Ended

12/31/06

% GROWTH IN AVERAGE

INTERNATIONAL VESSEL DAYRATES

13

Domestic Vessel

Dayrates and Utilization

$100 change in dayrate = $2.0M in revenue

1% change in utilization = $3.5M in revenue

20%

30%

40%

50%

60%

70%

80%

12/03

3/04

6/04

9/04

12/04

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

14

$3,000

$5,000

$7,000

$9,000

$11,000

$13,000

$15,000

12/03

3/04

6/04

9/04

12/04

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

Domestic Dayrates

New Vessels

Remaining Vessels

15

0%

20%

40%

60%

80%

100%

120%

140%

Fiscal 2005

Fiscal 2006

Nine Months Ended

12/31/06

% GROWTH IN AVERAGE

DOMESTIC VESSEL DAYRATES

16

Our Strategy-Steady as she goes

Seek the right acquisition(s) at the right price–

whole

fleets or individual vessels

Continue to renew the fleet in a disciplined way

Maintain and grow market share –

Domestic and

International

Continue to push dayrates to grow profits and cash flow

Continue to Add Incremental Value (Implementation of

EVA)

Maintain financial strength

17

Striving to Achieve Financial Balance

Financial Strength

18

THE LARGEST NEW FLEET

19

Vessel Commitments Post January 2000

Through 12/31/06

“$1,454m funded to date”

(1)

Includes vessels added to the fleet financed by bareboat charter.

* Excludes ENSCO fleet acquisition effected April 1, 2003

$1,801m

150

TOTALS: (1)

$200m

53

Crewboats & Tugs

$701m

45

PSV’s

$900m

52

AHTS

Committed

Vessel Count

20

Fleet Age And Profit Contribution

* New vessel contribution for Fiscal 2005 was 30%

21

…

And Counting (Present Order Book)

AHTS

21

PSV’s

5

Crewboats & Tugs

4

Total

Present

Order

Book

(1)

30

(1) Includes vessels to be added to the fleet financed by bareboat charter.

22

* Net vessels added to the fleet since January 2000, including

30 vessels under construction

* Since 4/01/05, 28 vessels have been scrapped and 81 have been sold

Out With the Old---In With the New (last 8 years)

0

100

200

300

400

289 Sold

71 Scrapped

360

A Rapid and Orderly Transition

Active Fleet

Disposition

404

136 New Vessels

425

23

FISCAL 2007 & 2006

NINE MONTH HIGHLIGHTS

(000’s omitted, except per share data)

Nine Months Ended

$1,592,047

$1,792,427

Stockholders’

Equity

$125,609

$173,350

Capital Expenditures

$183,644

$336,017

Net Cash from

Operations

$2.96

$4.75

Earnings Per Share

$171,074

$269,049

Net Earnings

$631,077

$831,712

Revenues

12/31/05

12/31/06

24

Balance Sheet

$300

$             300

Total Debt

300

300

Senior Notes Debt

0

0

Revolver Debt

$2,365

$          2,533

Total Liabilities & Equity

1,659

1,792

Stockholders’

Equity

590

604

Other Liabilities

116

137

Current Liabilities

$2,365

$          2,533    

Total Assets

463

443

Other Assets

1,373

1,431

PP&E

283

318

Other Current Assets

$246              

$             341

Cash

March

2006

December

2006

(millions of dollars)

25

1.60

281

124

Earnings Growth Over The Last Year

(1)

Exclusive of $17.1 million after tax gain ($. 30 per share) resulting from the sale of 11 offshore tugs in August 2006.

(2)

Exclusive of $3.7 million after tax gain ($.07 per share) resulting from the sale of three offshore tugs in December 2006.

1.23

71

259

120

62

197

6/30/06

Qtr

1.04

60

228

103

51

177

12/31/05

Qtr

1.11

65

236

116

54

182

3/31/06

Qtr

Diluted EPS

Net Earnings

Vessel Revenue:

Domestic

International

(IN MILLIONS)

1.55

87

271

122

9/30/06

Qtr

62

209

90

12/31/06

Qtr

Vessel Oper. Costs

(2)

(2)

(1)

(1)

57

224

26

$0

$50

$100

$150

$200

$250

$300

$350

Fiscal 2004

Fiscal 2005

Fiscal 2006

Fiscal 2007

Estimate (1)

SIGNIFICANT EARNINGS GROWTH

(1)

First

Call

consensus

estimates

as

of

January

28,

2007,

which

is

being

provided

for

information

purposes

only.  

Tidewater

does

not

endorse

these

estimates

and

takes

no

responsibility

for

any

updating

of

this

information

in

the

future.

Tidewater

does

not

provide

guidance

on

future

earnings

performance.  

**

Net

earnings

in

Fiscal

2004

is

exclusive

of

the

$17.2

million

after

tax

impairment

charge.

Net

earnings

in

Fiscal

2006

is

exclusive

of

the

$42.8

million

after

tax

gain

from

the

sale

of

six

KMAR

vessels.

$59M

$101M

$193M

$324M

(74.5% Compounded Average Annual

Earnings Growth Rate over last three years)

First Call consensus estimates for Fiscal 2007 are exclusive of $20.8 million of after tax gains from the sale of 14 offshore tugs during the year.

27

($100)

($50)

$0

$50

$100

Fiscal 2005

Fiscal 2006

Nine Months Ended

12/31/06

ECONOMIC VALUE ADDED (EVA)

Weighted Average Cost of Capital is assumed to be 9% in the EVA amounts above.

($85M)

$15M

$108M

28

Fiscal

Fiscal

Fiscal

2006

2007

2008

As of:

July , 2005

$2.22

$2.61

-

July , 2006

-

$4.80

$5.38

January , 2007

-

$5.61

$5.94

Actual

$3.33

EXCEEDING EXPECTATIONS

29

Current OSX Dividend Yields

1.2%

0.9%

0.8%

0.8%

1.7%

0.6%

0.8%

0

0.5

1

1.5

2

Tidewater

Halliburton

Schlumberger

Baker

Hughes

Global

Santa Fe

BJ Services

Smith

International

0.6%

Rowan

0.2%

Noble Corp

30

Future Outlook

Fiscal

2000

2004

2005

2006

2007

2008

E.P.S.

1.37

.73

$1.78

$3.33

(4)

$5. 79

(1)

$6.02

(1)

Active New Vessels

(2)

---

66

95

101

109

130

New Vessel Profit Contribution

---

24%

30%

44%

---

---

Fleet Average Age (years)

(3)

19

19

20

20

19

18

(1)

First

Call

consensus

estimates

as

of

January

28,

2007

which

is

being

provided

for

information

purposes

only.

Tidewater

does

not

endorse

these

estimates

and

takes

no

responsibility

for

any

updating

of

this

information

in

the

future.

Tidewater

does

not

provide

guidance

on

future

earnings

performance.

(2)

Vessels

built

or

acquired

after

1

-

1

-

2000

inclusive

of

newbuilds

committed

to

as

of

December

31,

2006.

Does

not

include

an

additional

3

vessels

committed

for

delivery

in

Fiscal

2009.

(3)

Includes committed newbuilds with no assumed fleet retirements.

(4)

Excludes $42.8 million after tax gain ($.74 per share) on sale of 6 KMAR AHTS vessels. 

Excludes $20.8 million after tax gain ($.37 per share) on sale of 14 offshore tugs during Fiscal 2007.

(5)

(5)

2007 Credit Suisse Energy Summit

Dean E. Taylor –

Chairman, President & CEO

Joseph M. Bennett –

Senior VP, Principal Accounting Officer, Chief Investor Relations Officer

February 6, 2007