Tidewater 8K Capital One Southcoast Energy Conference | TDW 4 Dec 07

TIDEWATER

Capital One Southcoast Energy Conference

December 4, 2007

GLOBAL MOMENTUM

Dean E. Taylor -

Chairman, President & CEO

Joseph M. Bennett -

Sr. V.P., Principal Accounting Officer

and Chief Investor Relations Officer

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

these

risk

factors

well

other

information

contained

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

TIDEWATER

OUR WORKPLACE

TIDEWATER

SAFETY RECORD RIVALS

LEADING COMPANIES

0.00

0.25

0.50

0.75

1.00

Total Recordable Incident Rates

2001

2002

2003

2004

2005

2006

Calendar Years

TIDEWATER

DOW CHEMICAL

DUPONT

EXXON/MOBIL

TIDEWATER

TIDEWATER TODAY

Safety record rivals leading companies

International presence driving earnings

Using cash position to grow industry’s largest new fleet

One of the strongest balance sheets of the OSX

Authority to repurchase common shares

One of the highest dividend yields in the OSX

TIDEWATER

TIDEWATER TOMORROW

Maintain financial strength

Grow international market share

Renew the fleet in a disciplined way

Push day rates and utilization to grow profits

and cash flow

Generate solid earnings across market cycles

Right acquisitions, right price, right time

TIDEWATER

WHY A POSITIVE OUTLOOK?

Favorable commodity pricing

E&P spending up (Lehman mid year report up by 12.8%)

Offshore rig count up

New rig construction

Largest new fleet in the industry

International scope of operations

Continued strong demand in virtually all areas of

operation

TIDEWATER

The most internationally diverse company

in the industry

Five decades of international experience

Continuing to grow international market share

Improving vessel utilization and dayrates for earnings

growth

During 9/30/07 quarter, 85% of revenue & 91% of profit

came from International operations (vs. 49% and 41%

ten years ago.)

International E&P (ex Canada) spending forecast to

increase at a faster rate than overall E&P spending

INTERNATIONAL OPERATIONS

DRIVING EARNINGS

TIDEWATER

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., “our

people

the

ground”

every

market)

–

Long-term relationships with major operators

(NOC’s, IOC’s and independents)

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

TIDEWATER

TIDEWATER 1997

Vessel Count By Region

57% International 43% Domestic

North

America

243 (43%)

Central/South

America

84 (15%)

West

Africa

125 (22%)

Europe/M.E.

75 (14%)

Far East

32 (6%)

A LOOK BACK

TIDEWATER

88% International 12% Domestic

Active Vessel Count By Region

(excludes stacked vessels)

TIDEWATER TODAY

INTERNATIONAL OPERATIONS

DRIVING EARNINGS

North

America

43 (12%)

Central/South

America

101 (28%)

West

Africa

139 (38%)

Far East

46 (12%)

Europe/M.E.

38 (10%)

TIDEWATER

INTERNATIONAL VESSEL

DAYRATES

10%

20%

30%

40%

50%

Fiscal 2005

Fiscal 2006

Fiscal 2007

Total Growth Percentage

From FY’

04 through 9/30/07 –

Total Growth 64%

TIDEWATER

USING CASH POSITION TO GROW

INDUSTRY’S LARGEST NEW FLEET

Estimated annual commitment of $300-$500

million to continue fleet renewal

Expected to be funded through internal

cash flow generation

CapEx

of $235 million in Fiscal 2007 and $216

million in six months ended 9/30/07

Prudent approach to expansion/acquisition

opportunities

We Continuously Strive for a Balance Between

Performance, Growth and Financial Strength

TIDEWATER

LARGEST NEW FLEET

IN THE INDUSTRY

$1,011m

PSV’s

$2,369m

(2)

179

TOTALS:

(1)

$267m

Crewboats

& Tugs

$1,091m

AHTS

Cost

Vessel Count

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

(2) $1,713m funded to date.

*Excludes ENSCO fleet acquisition effected April 1, 2003.

Vessel Commitments Jan. ’00 –

September ’07

Maintaining a Disciplined Approach to the

Renewal of our Fleet is our First Priority

TIDEWATER

LARGEST NEW FLEET IN THE

INDUSTRY …

AND COUNTING

Our approach to managing construction

Total

PSV

Crew and Tug

AHTS

Count

Vessels Under Construction

As of September 30, 2007

Building vessels

worldwide at 15

different yards

Continuing due

diligence on new and

existing yards

Utilizing Tidewater

construction

superintendents to

supervise on site

Effectively Utilizing Our Strong Cash Position

to Grow the Industry’s Largest New Fleet

TIDEWATER

GLOBAL VESSEL CONSTRUCTION

Where our 50 vessels are being built

TIDEWATER

FUTURE VESSEL DELIVERIES

8 delivered

In FY2007

21 in FY2008

(8 already delivered)

18 in FY2009

18 in FY2010

and

1 in FY2011

TIDEWATER

Fiscal 2007

Profit

Contribution

Average

Age

Vessel

Count

Profit

Contribution

Average

Age

Vessel

Count

48%

105

Vessels built

or acquired

since

January 2000

52%

321

100%

509

Vessels built

prior to

January 2000

Fiscal 2000

LARGEST NEW FLEET

IN THE INDUSTRY

Fleet Age and Profit Contribution

Approximately

53% of Current Vessel Profitability is

Generated by New Vessels

* New vessel contribution for Fiscal 2005 was 30%.

TIDEWATER

100

200

300

400

Active Fleet

Disposition

Net

vessels

added

the

fleet

since

January

2000,

including

vessels

under

construction

9/30/07.

* Since 4/01/05, 28 vessels have been scrapped and 107 have been sold.

* Total fleet count excludes 51 stacked vessels.

Out With the Old –

In With the New

LARGEST NEW FLEET IN

THE INDUSTRY

(as of 9/30/07)

417

384

165 New Vessels

71 Scrapped

313 Sold

TIDEWATER

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

“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

TIDEWATER

CONSIDERATIONS IN DESIGNING

OUR “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

Tidewater’s

current

views;

they

should

not

interpreted

excluding

other

points

the

continuums

the

future.

TIDEWATER

ONE OF THE STRONGEST

BALANCE SHEETS OF THE OSX

$1,910

$1,883

Stockholders’

Equity

$300

Long-term Debt*

$321

$394

Cash

September 2007

March 2007

Further Proof of Our Discipline and

Sound Business Strategy

(in Millions)

* Excludes $21.9 million at March 2007, and $53.5 million at September 2007, of total capitalized lease obligations.

TIDEWATER

SELECTED FINANCIAL HIGHLIGHTS

Six Months Ended

$3.08*

$3.11

Earnings Per Share

$175,640*

$174,008

Net Earnings

$216,896

$220,471

Net Cash from

Operations

$128,235

$216,453

Capital Expenditures

$543,799

$624,528

Revenues

9/30/06

9/30/07

(in Thousands, Except Per Share Data)

Includes $17.2 million ($.31 per common share) gain on sale of 11 offshore tugs in August 2006.

TIDEWATER

SIGNIFICANT EARNINGS GROWTH

$50

$100

$150

$200

$250

$300

$350

Fiscal 2004

Fiscal 2005

Fiscal 2006

78% Three-Year Compounded

Annual Earnings Growth Rate

$59M

$101M

$193M

$336M

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.

Net earnings in Fiscal 2007 is exclusive of $20.8 million of after tax gains from the sale of 14 offshore tugs.

Fiscal 2007

TIDEWATER

ABILITY TO GENERATE SOLID

EARNINGS ACROSS MARKET CYCLES

Fiscal

30%

$1.78

2005

24%

$.73

2004

–

$1.37

2000

48%

109

$5.94

(5)

2007

128

101

Active New Vessels

(2)

$6.30

(1)

$3.33

(4)

E.P.S

44%

New Vessel Profit

Contribution

Fleet Average Age

(years)

(3)

2008

2006

(1)

First

Call

consensus

estimates

November

2007,

which

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

acquired

after

1-1-2000

inclusive

newbuilds

committed

September

30,

2007.

Does not include an additional 37 vessels committed for delivery

in Fiscal 2009 -

2011.

(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.

(5)

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

TIDEWATER

SHARE REPURCHASE PROGRAM

Authority to repurchase up to $200 million in

common stock

Continue to purchase shares on an

opportunistic basis

Repurchased 950,000 shares at an average

price of $64.27 per share during quarter ended

9/30/07

Repurchased 2,560,500 shares at an average

price of $60.17 per share during previous

program completed on 6/30/07

TIDEWATER

2.0%

1.5%

1.0%

0.5%

0.0%

Global

Santa Fe

Tidewater

1.2%

1.1%

1.0%

1.1%

Rowan

Halliburton

0.8%

0.7%

0.3%

Schlumberger

BJ Services

Smith

International

Baker

Hughes

Noble

Corp

ONE OF THE HIGHEST DIVIDEND

YIELDS IN THE OSX

(as of November 19, 2007)

TIDEWATER

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

“Consistent

Goals

Objectives

Over

Last

Several

Years”

TIDEWATER

Capital One Southcoast Energy Conference

December 4, 2007

GLOBAL MOMENTUM

Dean E. Taylor -

Chairman, President & CEO

Joseph M. Bennett -

Sr. V.P., Principal Accounting Officer

and Chief Investor Relations Officer

TIDEWATER

APPENDIX

TIDEWATER

INTERNATIONAL VESSELS

Dayrates and Utilization

$100 change in dayrate = $10.3M in revenue

1% change in utilization = $12.9M in revenue

40%

50%

60%

70%

80%

90%

9/04

12/04

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

3/07

6/07

9/07

$4,000

$4,500

$5,000

$5,500

$6,000

$6,500

$7,000

$7,500

$8,000

$8,500

$9,000

$9,500

$10,000

* Dayrate

and utilization information is for all classes of vessels operating international.

TIDEWATER

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

$15,000

9/04

12/04

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

3/07

6/07

9/07

Remaining Vessels

New Vessels

INTERNATIONAL VESSELS

DAYRATES

* Dayrate

information is for all classes of vessels operating international.

TIDEWATER

DOMESTIC VESSEL DAYRATES

20%

40%

60%

80%

100%

120%

140%

Fiscal 2005

Fiscal 2006

Fiscal 2007

Total Growth Percentage

125% Total Growth since FY’04

TIDEWATER

DOMESTIC VESSELS

Dayrates and Utilization

$100 change in dayrate = $1.4M in revenue

1% change in utilization = $2.5M in revenue

20%

30%

40%

50%

60%

70%

80%

9/04

12/04

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

3/07

6/07

9/07

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

* Dayrate

and utilization information is for all classes of vessels operating in the U.S.

TIDEWATER

$3,000

$5,000

$7,000

$9,000

$11,000

$13,000

$15,000

9/04

12/04

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

3/07

6/07

9/07

Remaining Vessels

New Vessels

DOMESTIC VESSEL DAYRATES

* Dayrate

information is for all classes of vessels operating in the U.S.

Tidewater (TDW) 8-KCapital One Southcoast Energy Conference