Tidewater 8K Regulation FD Disclosure | TDW 27 Sep 07

Getting to Know Tidewater

Jim and Angie’s 14

Oilfield Tour

Sponsored by Lehman Brothers

September 25, 2007

Dean E. Taylor

Chairman, President & CEO

Jeff Platt

Executive Vice President

Nancy Morovich

Senior Vice President

Dean E. Taylor

Chairman, President & CEO

Jeff Platt

Executive Vice President

Nancy Morovich

Senior Vice President

Exhibit 99.1

TIDEWATER

601 Poydras Street, Suite 1900

New Orleans, LA 70130

FORWARD-LOOKING STATEMENTS

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.

Phone:

504.568.1010 •

Fax:

504.566.4580 •

Web site address:

www.tdw.com •

Email:

connect@tdw.com

Discussion Outline

Who are we?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Who are we?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Tidewater Invented the Business

Who We Are and Who We’re Not

A long term

international vessel

operator

A superior safety-

oriented service

provider

The industry leader

with 50+ years of

experience

An asset trader

A cycle timer

A new entrant,

looking to make quick

return and exit

We are…

We are not …

Operating Expertise

Applied to Four Vessel Types

420

Total*

PSVs and AHTS in this category perform the same functions

deepwater counterparts except they are generally chartered to

customers for use in intermediate and shallow waters.

256

Towing-

supply and

supply

Tugs tow floating rigs and barges. Used in support of cable and

pipe lay operations and other construction activities. Other

vessels include inshore tugs, barges, etc.

Offshore

Tugs and

Other

Utilized in transporting personnel and small quantities of

supplies from shore bases to offshore drilling rigs, platforms

and other installations.

Crew and

Utility

Includes platform supply vessels (PSV) and anchor handling

towing supply vessels (AHTS).

PSVs haul large cargo to serve drilling and production facilities

and to support offshore construction and maintenance work.

AHTS tow rigs and other marine equipment, and can set

anchors for mooring rigs.

Deepwater

Description

Count

*Average vessel count for quarter ended June 30, 2007; excludes vessels withdrawn from service and joint venture vessels

Fleet Renewal Program

Underway Since 2000

75%

25%

Vessels built prior to January 2000

Vessels built or acquired after January 2000

Vessels

% as of Fiscal Year End 2007

48%

52%

Profit Contribution

% as of Fiscal Year End 2007

Discussion Outline

Who are we?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Who are we?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Superior Operating Capabilities

Drive Our Competitive Advantage

Superior operating performance

–

Safety-oriented culture

–

Deep knowledge of customer needs

International scope and relationships

–

Worldwide market presence (e.g., “boots

on the ground”

in every market)

–

Worldwide infrastructure

Attractive fleet

–

Most new vessels in industry

–

Wide range of equipment types

Cost efficient management

–

“Lean”

mentality applied to operations and

overhead

–

Aggressive construction cost management

Safety Record

Rivals Leading Companies

0.5

1.5

Calendar Years

Total Recordable Incident Rates

# of Incidents per 200,000 Man Hours

Tidewater

Dow Chemical

Dupont

Exxon/Mobil

2001

2002

2003

2004

2005

2006

Worldwide Scope of Operations

57%

87%

25%

50%

75%

100%

Fiscal 1997

As of June

30, 2007

Vessels Operating

% of Total Operated Internationally

41%

90%

25%

50%

75%

100%

Fiscal 1997

As of June

30, 2007

Vessel Operating Profit

% Contributed by International Operations

Internationally Diverse Workforce

37%

10%

12%

Angola

Brazil

Phillipines

Mexico

Nigeria

Indonesia

India

USA

Venezuela

Other

Workforce Composition

% as of June 30, 2007

(>50 countries)

Network of resources

provide access to

seaman worldwide

Ability to meet “local

content”

requirements

Workforce well-trained

in universal safety

standards

Cost Discipline Supports

Cost Advantage

1,000

2,000

3,000

Operating Expense per Vessel

$ as of Last Fiscal Year Ended*

250

500

750

G&A Expense per Vessel

$ as of Last Fiscal Year Ended*

TDW Peer Peer

Peer

Peer TDW Peer Peer

Peer

Median

Source: Publicly available reports and TDW analysis; peers include Bourbon, Gulfmark, Hornbeck, Seacor, Trico Marine.

Tidewater’s Approach

to Managing Construction

Total

PSV

Crew and Tug

AHTS

Count

Vessels Under Construction

As of June 30, 2007

Building vessels

internationally at 8

different yards

Continuing due

diligence on new and

existing yards

Utilizing Tidewater

construction

superintendents to

supervise on site

Worldwide Construction Program

Minimizes Cost While Ensuring Quality

Vessels Under Construction

# by Yard Location as of June 30, 2007

Balance Sheet Strength Provides

Sustainability Advantage

-30%

-10%

10%

30%

50%

Net Debt to Net Capital Ratio vs. Marine Transportation Peers

% as of Last Fiscal Year Ended*

Peer

TDW

Peer

Median

*Source: Publicly available reports and TDW analysis; peers include Bourbon, Gulfmark, Hornbeck, Seacor, Trico Marine.

Discussion Outline

What are our primary line of business?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

What are our primary line of business?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Active Vessel Count By Region

As of Quarter Ended June 30, 2007*

Nearly 90% of Vessels Operating

in International Waters

North

America

45 (12%)

North

America

45 (12%)

Central/South

America

102 (28%)

Central/South

America

102 (28%)

West

Africa

141 (38%)

West

Africa

141 (38%)

Far East

45 (12%)

Far East

45 (12%)

Europe/M.E.

36 (10%)

Europe/M.E.

36 (10%)

*Excludes 48 stacked vessels.

Expansion Opportunities

Span the Globe

Developing deep water market driven by China and India demand for oil and gas

Second largest jack-up market worldwide ~ 56 units

South East

Asia /

Australia

Largest jack-up market in the world ~ 105 units

Typically lower margins as compared to other regions

Middle East /

India

National oil companies are the majority of operators –

Pemex

/ Petrobras

/ PDVSA

Relatively long term contracts

Growth areas in Mexico and Brazil

Central/

South

America

Primarily a spot market

Significant involvement of brokers in vessel contracting

Europe

Growing market, especially Angola and Nigeria

Mix

national

(NOC)

and

international

oil

companies

(IOC)

with

government

participation –

IOC’s are the majority of operators

Challenging operating environment due to limited infrastructure

West Africa

Primarily a spot market

Driven by independent operators

Jack-up rigs exiting; shrinking market other than deep water

North

America

Market Dynamics

Discussion Outline

Who are we?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Who are we?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Vessel Acquisition Alternatives

Buy Existing

Construct New

Buy Fleet

(e.g., Buy Company)

Considerations:

Usually one-off

purchases, often to

match specific client

needs

Immediate delivery

Entry price at “full”

market rate

May limit overall

capacity

Considerations:

Built to Tidewater

quality standards

18 + months to delivery

Potential shipyard

backlog

Contract terms (e.g.,

fixed price, LDs, etc.)

Resource requirements

to oversee construction

Considerations:

Quality of equipment

Existing contracts

Potential synergies

Potential divestiture of

non core assets

Potential premium

Execution risk

Value creation potential

vs. alternatives

Combination of Approaches

Used Historically

Acquisitions and Dispositions

# of Vessels by Fiscal Year

120

-68

-58

-27

-19

-24

-36

-65

-39

-38

-79

-25

(75)

(50)

(25)

100

125

08E

09E

10E

11E

Dispositions

Acquisitions

Deliveries expected

as of June 30, 2007

Long Term Objective Is to Invest

Consistently Across the Cycle

100

150

200

Tugs/Other

Crewboats

PSV

AHTS

Vessels by Build Date

Average as of Quarter Ended June 30, 2007

Up to

1973-

1978-

1983-

1988-

1993-

1998-

2003-

2008+

1972

1977

1982

1987

1992

1997

2002

2007

Beyond

*Includes 45 vessels currently under construction to be delivered in FY08 through FY11.

d in FY08 through FY11.

Target Range

Numerous Factors Considered

in Designing “Optimal”

Vessel Mix

Vessel Type

Custom/

Specialized

Standardized

Specifications

Small

Ultra big

Operating Capabilities

Renew

existing

Expand to

niche

markets

End Users

Drilling,

production

Subsea, main-

tenance, LNG

etc.

Supply/Demand

Cycle timers

Invest

across

cycle

TDW*

*Arrows are illustrative of Tidewater’s current views; they should not be interpreted as excluding other points on the

continuums in the future.

Disciplined Approach to M&A

What is target

worth to us?

How would TDW’s

financial profile

change?

How would TDW’s

risk profile change if

target is acquired?

What are other

capital deployment

alternatives?

How does target’s

valuation compare

to market price?

DCF analysis

Assess synergy

potential

Identify, quantify

sensitivities

DCF analysis

Assess synergy

potential

Identify, quantify

sensitivities

Recent trading range

Multiple relative to peers

Premium range required

Recent trading range

Multiple relative to peers

Premium range required

Earnings, EPS

CF, FCF

ROE, ROIC

Debt, Coverage

NOPAT, EVA

Earnings, EPS

CF, FCF

ROE, ROIC

Debt, Coverage

NOPAT, EVA

Model results under

different scenarios

Compare financials,

metrics to base case

Model results under

different scenarios

Compare financials,

metrics to base case

Buy individual assets

Acquire other

companies

Build assets

Buy TDW stock

Pay down debt

Buy individual assets

Acquire other

companies

Build assets

Buy TDW stock

Pay down debt

Disciplined Approach for

Considering Strategic Alternatives

STOP

Required

Competency

Assessment

Competency

Assessment

Industry

Outlook

Industry

Outlook

Competitive

Landscape

Competitive

Landscape

Resource

Requirements

Resource

Requirements

Value

Creation

Potential

Value

Creation

Potential

Risks and

Mitigation

Risks and

Mitigation

Signposts

to Monitor

Signposts

to Monitor

Exit Strategy

Start

Ours

Discussion Outline

Who are we?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Who are we?

How do we compete?

Where do we compete?

How do we approach vessel acquisitions and

M&A?

What’s our strategy for the future?

Strategies Are Pursued to

Support Long-Term Goals

Renew

Fleet

Maintain Financial

Strength

Deliver

Results

Consistently distribute cash to owners

through dividends and repurchases

Distribution

Consider cycle risk in designing optimal

capital structure; ensure sustainability

through down cycles

Capital

structure

Acquire across the cycle; consider key

factors in designing asset mix

Fleet

renewal

Set term giving consideration to

commodity cycle, competitors and

obsolescence

Contracting

Build on core competencies and existing

relationships; pursue new initiatives with

informed discipline

Growth

Pursue when value creation potential

exceeds stand alone case

Conceptual Approach

M&A

Strategic

Initiatives

Tidewater’s

Investment Proposition

Among safest companies in the industry

Growing international presence driving earnings growth

Using cash position to grow industry’s largest new fleet

One of the strongest balance sheets and highest

dividend yields in the OSX

Ability to generate solid earnings across market cycles

Authority to repurchase common shares

Financial resources and analytical discipline to pursue

right acquisition at right price at right time

Among safest companies in the industry

Growing international presence driving earnings growth

Using cash position to grow industry’s largest new fleet

One of the strongest balance sheets and highest

dividend yields in the OSX

Ability to generate solid earnings across market cycles

Authority to repurchase common shares

Financial resources and analytical discipline to pursue

right acquisition at right price at right time

Getting to Know Tidewater

Jim and Angie’s 14

Oilfield Tour

Tidewater (TDW) 8-KRegulation FD Disclosure