Tidewater 8K Regulation FD Disclosure | TDW 17 Sep 08

Keith

Lousteau

–

CFO,

Executive

Vice

President

and

Treasurer

Joseph

Bennett

–

Executive

Vice

President

and

Chief

Investor

Relations Officer

September 15, 2008

Exhibit 99.1

Bank of America 38 Annual

Investment Conference

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 that may cause the

Company’s

actual

performance

materially

different

from

that

stated

implied

the

forward-looking statement. 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 enforcement of laws related to the environment, labor and foreign corrupt

practices. 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

OUR WORKPLACE

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

2007

TIDEWATER TODAY

Solid safety record

Entire fleet earning great returns

Aggressively investing in new vessels

Unmatched global footprint

Strong balance sheet

Disciplined in regards to investment and capital

management

TIDEWATER TOMORROW

Fleet with expanded capabilities

Increased international presence

Generating solid returns regardless of market cycle

Financially strong

Growing earnings and solid returns tied to new

vessel deliveries

OUR STRATEGY

Deploy cash to renew fleet with expanded capabilities

Push dayrates and utilization to grow profits and cash flow

Balance long-term and spot market opportunities

Right acquisitions, right price, right time

Opportunistically utilize balance sheet strength

Focus on creating shareholder value

CONTINUED POSITIVE

OUTLOOK

Favorable commodity price environment

International E&P spending up 20% in 2008 (Lehman Bros.)

More vessels needed

High rig utilization

New rigs (~187) and FPSO’s

(~89) coming

Strong seismic and construction markets

Largest new fleet in the industry

Traditional vessels earning excellent returns

Best leverage to growing international markets

292

VESSEL POPULATION

BY OWNER

(Includes AHTS and PSV’s

only)

Estimated

June

2008

Source:

ODS-Petrodata

Tidewater

Competitor #1

Competitor #2

Competitor #3

Competitor #4

Avg. All Others

(1,468 total vessels

for 300+ owners)

and

Tidewater

BASIC RIG FACTS

601

Working Rigs

119

Inactive Rigs

In yard getting repaired

Warm stacked/Standby

Hot stacked

Cold stacked/other

119

187

New Rigs (37 in 2008, 64 in 2009,

50 in 2010, 26 in 2011, 10 in 2012)

Source: ODS-Petrodata

Estimated as of June 2008

FLOATING PRODUCTION

SYSTEM FACTS

279

Active

Inactive

Under construction

(27 in 2008, 36 in 2009,

16 in 2010, 10 thereafter)

Source: ODS-Petrodata

(Includes FPSO, FSO, Spars, TLP, Other)

Estimated as of June 2008

GLOBAL VESSEL

FLEET BY AGE

100

120

140

160

180

1965

1970

1975

1980

1985

1990

1995

2000

2005

(Includes

AHTS

and

PSV’s

only)

As of 6/30/08, there are

approximately 736 additional AHTS

and PSV’s

under construction

Estimated as of June 2008

2,038 active vessels

Source: ODS-Petrodata and Tidewater

GLOBAL VESSEL

FLEET BY AGE

100

120

140

160

180

1965

1970

1975

1980

1985

1990

1995

2000

2005

(Includes

AHTS

and

PSV’s

only)

Source:

ODS-Petrodata

and

Tidewater

As of 6/30/08, there are

approximately 736 additional AHTS

and PSV’s

under construction

Estimated as of June 2008

Of the total 2,038 vessels, 299 vessels are 30+ yrs old.

GLOBAL VESSEL

FLEET BY AGE

100

120

140

160

180

1965

1970

1975

1980

1985

1990

1995

2000

2005

(Includes

AHTS

and

PSV’s

only)

Source:

ODS-Petrodata

and

Tidewater

As of 6/30/08, there are

approximately 736 additional AHTS

and PSV’s

under construction

Estimated as of June 2008

the

total

2,038

vessels,

299

vessels

are

30+

yrs

old,

another 489 are 25-29 yrs old.

GLOBAL VESSEL

FLEET BY AGE

100

120

140

160

180

1965

1970

1975

1980

1985

1990

1995

2000

2005

(Includes AHTS and PSV’s only)

Source:

ODS-Petrodata

and

Tidewater

As of 6/30/08, there are

approximately 736 additional AHTS

and PSV’s under construction

Estimated as of June 2008

Of the total 2,038 vessels, 299 vessels are 30+ yrs old,

another 489 are 25-29 yrs old,

another 489 are 25-29 yrs old, and

171 are 20-24 yrs old

VESSEL / RIG RATIO

Current Vessel Demand Dynamics:

2,038

Global Vessel Count (AHTS & PSV only)

601

Global Working Rigs

3.4

Vessel to Rig Ratio

Incremental Vessel Demand:

Older rigs in yards getting prepared for work

187

New rigs under construction

Source: ODS-Petrodata

and

Tidewater

Estimated as of June 2008

Unique global footprint; 50+ years of Int’l experience

For 1Q FY ‘09, Int’l was 88% of revenues & 90% of

profits

Growing industry’s largest international fleet

Longer contracts, better utilization, higher dayrates for

new & traditional vessels operating in Int’l markets

2008 Int’l E&P spending up faster than overall spending

= strong Int’l earnings for Tidewater

INTERNATIONAL

PRESENCE

DRIVING EARNINGS

90% International 10% Domestic

(vs. 57% International and 43% Domestic ten years ago)

Active Vessel Count By Region

(excludes stacked vessels)

TIDEWATER TODAY

INTERNATIONAL PRESENCE

DRIVING EARNINGS

North

America

37 (10%)

(10%)

Central/South

America

100 (27%)

(27%)

West

Africa

147 (40%)

(40%)

Far East

49 (13%)

(13%)

Europe/M.E.

36 (10%)

(10%)

INTERNATIONAL

VESSEL DAYRATES

Growth

Total

Dayrate

Growth

from

FY‘04

+71%,

New vessels +81%, Traditional vessels +44%

10%

20%

30%

40%

50%

60%

70%

80%

Fiscal 2005

Fiscal 2006

Fiscal 2007

Fiscal 2008

GROWING INDUSTRY’S

LARGEST NEW FLEET

Ability to support $1 billion per year for fleet renewal

and growth (Fiscal 2008 CapEx

of $354 MM)

Funding with internal cash flow and available credit

Always weigh build vs. buy criteria

Strive for a Balance Between

Performance, Growth and Financial Strength

LARGEST NEW FLEET

IN THE INDUSTRY

$1,353m

PSV’s

$2,867m

(2)

201

TOTALS:

(1)

$260m

Crewboats

& Tugs

$1,254m

AHTS

Estimated Cost

Vessel Count

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

(2) $1,971m funded through 6/30/08.

*Excludes ENSCO fleet acquisition effected April 1, 2003.

Vessel Commitments Jan. ’00 –

June ‘08

First Priority: Disciplined Renewal of Fleet

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

June

30,

2008

Building vessels

worldwide

Due diligence focused

on yards

Tidewater staff

supervise on site

Estimated delivery schedule –

17 in FY ’09,

22 in FY ’10 and 20 thereafter

$100

$200

$300

$400

$500

$600

$700

2000

2001

2002

2003

2004

2005

2006

2007

2008

Fiscal Years

FLEET CASH

OPERATING MARGINS

60%

50%

40%

30%

20%

10%

New Vessels

Traditional Vessels

Note: Cash operating margins are defined as vessel revenue less

vessel operating expenses.

Total Fleet

Operating Margin %

36.9%

38.6%

37.6%

46.5%

41.9%

38.7%

49.1%

54.6%

51.9%

$100

$200

$300

$400

$500

$600

$700

2000

2001

2002

2003

2004

2005

2006

2007

2008

Fiscal Years

FLEET CASH

OPERATING MARGINS

60%

50%

40%

30%

20%

10%

New Vessels

Traditional Vessels

Note: Cash operating margins are defined as vessel revenue less

vessel operating expenses.

Total Fleet

Operating Margin %

36.9%

38.6%

37.6%

46.5%

41.9%

38.7%

49.1%

54.6%

51.9%

When delivered, the 59 vessels currently under construction, using today’s

dayrates, utilization, operating costs and share count, should generate

approximately $336 million of cash operating margin and approximately

$4.75 of EPS.

100

200

300

400

500

Active Fleet

Dispositions

* Net

vessels

added

the

fleet

since

January

2000,

including

vessels

under

construction

6/30/08.

* Since 4/01/05, 28 vessels have been scrapped and 123 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 6/30/08)

428

400

187 New Vessels

72 Scrapped

328 Sold

(Since 4/1/99)

STRONG

BALANCE SHEET

$300

Long-term Debt*

$1,930

$1,958

Stockholders’

Equity

1.5%

5.5%

Net Debt* to Total Cap

$270

$185

Cash

March 2008

June 2008

Further Proof of Our Discipline and

Sound Business Strategy

(in Millions)

* Excludes

$9.8

million

June

2008,

and

$10.1

million

March

31,

2008,

total

capitalized

lease

obligations.

SELECTED FINANCIAL

HIGHLIGHTS

Quarter Ended

$1.55

$1.64

Earnings Per Share

$87,542

$84,776

Net Earnings

$121,158

$92,717

Net Cash from

Operations

$111,543

$129,657

Capital Expenditures

$305,482

$340,054

Revenues

6/30/07

6/30/08

(in Thousands, Except Per Share Data)

$0.00

$2.00

$4.00

$6.00

$8.00

Fiscal 2004

Fiscal 2005

Fiscal 2006

Fiscal 2007

Fiscal 2008

SIGNIFICANT

EARNINGS GROWTH

58% Four-Year Compounded

Annual Earnings Growth Rate

$1.03

$1.78

$3.33

$5.94

EPS in Fiscal 2004 is exclusive of the $.30 per share after tax impairment charge. EPS in Fiscal 2006 is

exclusive of the $.74 per share after tax gain from the sale of six KMAR vessels.

EPS in Fiscal 2007 is exclusive of $.37 per share of after tax gains from the sale of 14 offshore tugs.

FY End Stock Price $28.13

$38.86 $55.23 $58.58 $55.11

$6.39

RETURNING VALUE TO

SHAREHOLDERS

SHARE REPURCHASE PROGRAM

Current repurchase authority of $200 MM

Since 8/05, have repurchased 9.5 MM shares for $516.2 MM,

($54.57 per share)

DIVIDENDS

Recent dividend declaration increased from $.15/share/quarter

to $.25/share/quarter

One of eight OSX companies paying dividends

Current 1.8% yield (highest among OSX companies)

Financial Strategy

Focused on Long Term Shareholder Value

Renew

Fleet

Maintain Financial

Strength

Deliver

Results

September 15, 2008

Bank of America 38 Annual

Investment Conference

Keith

Lousteau

–

CFO,

Executive

Vice

President

and

Treasurer

Joseph

Bennett

–

Executive

Vice

President

and

Chief

Investor

Relations Officer

APPENDIX

40%

50%

60%

70%

80%

90%

6/05

9/05

12/05

3/06

6/06

9/06

12/06

3/07

6/07

9/07

12/07

3/08

6/08

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

INTERNATIONAL VESSELS

Dayrates and Utilization

$100 change in dayrate = $10.4M in revenue

1% change in utilization = $14.6M in revenue

* Dayrate

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

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

$15,000

$16,000

$17,000

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

3/07

6/07

9/07

12/07

3/08

6/08

Traditional Vessels

New Vessels

INTERNATIONAL

VESSELS DAYRATES

* Dayrate

information is for all classes of vessels operating international.

20%

40%

60%

80%

100%

120%

140%

Fiscal 2005

Fiscal 2006

Fiscal 2007

Fiscal 2008

DOMESTIC VESSEL

DAYRATES

Total Growth Percentage

From FY’04 through FY’08 Total Growth 136%

DOMESTIC VESSELS

Dayrates and Utilization

$100 change in dayrate = $1.2M in revenue

1% change in utilization = $2.4M in revenue

* Dayrate

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

20%

30%

40%

50%

60%

70%

80%

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

3/07

6/07

9/07

12/07

3/08

6/08

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$3,000

$5,000

$7,000

$9,000

$11,000

$13,000

$15,000

$17,000

3/05

6/05

9/05

12/05

3/06

6/06

9/06

12/06

3/07

6/07

9/07

12/07

3/08

6/08

Traditional Vessels

New Vessels

DOMESTIC VESSEL

DAYRATES

* Dayrate

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

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 (over 60

countries)

–

Long-term relationships with major

operators (Over 200 customers)

Attractive fleet

–

Most new vessels in industry

–

Wide range of equipment types

Cost efficient management

–

“Lean”

operations and overhead

–

Aggressive construction cost management

VESSEL ACQUISITION

ALTERNATIVES

Buy Existing

Construct New

Buy Fleet

(e.g., Buy Company)

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

Considerations:

Usually one-off

purchases, often to

match specific client

needs

Immediate delivery

Entry price at “full”

market rate

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

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.

Subsea, main-

tenance, LNG

etc.

Tidewater (TDW) 8-KRegulation FD Disclosure