Tidewater

#4091

Rank

$2.85B

Marketcap

United States

Country

Leadership team

Mr. Quintin V. Kneen (Pres, CEO & Director)

Mr. Samuel R. Rubio (Exec. VP & CFO)

Mr. David E. Darling (Exec. VP & COO)

Products/ Services

Energy, Energy Efficiency, Energy Management

Number of Employees

1,000 - 20,000

Headquarters

New Orleans, Louisiana, United States

Established

1956

Company Registration

SEC CIK number: 0000098222

Revenue

500M - 1B

Traded as

TDW

URL

https://www.tdw.com

Overview

Location

Recognition and Award

References

Summary

Tidewater Inc., together with its subsidiaries, provides offshore marine support and transportation services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and natural gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying. The company operates and charters deepwater vessels, including platform supply and horsepower anchor handling tug supply vessels for use in transporting supplies and equipment from shore bases to deepwater and intermediate water depth offshore drilling rigs and production platforms; towing-supply vessels for use in intermediate and shallow waters; and crew boats, utility vessels, and offshore tugs to transport personnel and supplies from shore bases to offshore drilling rigs, platforms, and other installations. It also operates offshore tugs for use in tow floating drilling rigs and barges; and assisting in the docking of tankers, as well as in pipe and cable laying, and construction barges. The company serves oil and natural gas exploration, field development, and production companies; mid-sized and smaller independent exploration and production companies; foreign government-owned or government-controlled organizations, and other related companies; drilling contractors; and other companies, such as offshore construction, windfarm development, diving, and well stimulation companies. As of December 31, 2021, it owned 135 vessels. Tidewater Inc. was incorporated in 1956 and is headquartered in Houston, Texas.

History

Tide Water was founded in New York City in 1887. The company entered the gasoline market and by 1920 was selling gasoline, oil and other products on the East Coast of the United States under its "Tydol" brand.

In 1926, control of Tide Water Oil sold out to a new holding company, Tide Water Associated Oil Company, which also acquired a controlling interest in California’s Associated Oil Company. Soon thereafter, Standard Oil Company of New Jersey took control of the company. Flying A became the primary brand name for the company, though the Tydol and Associated names were also retained in their respective marketing areas.

Tidewater Oil Company operated a fleet of oil tankers. During World War II, it chartered ships to the Maritime Commission and War Shipping Administration and operated T2 tankers to support the war effort. Ships included: USS Guyandot , SS Byron D. Benson, SS Samuel Q. Brown, Falls of Clyde, and others.

During the 1950s, the Associated and Tydol brands gradually fell into disuse, and were dropped entirely in 1956.

In 1966, Phillips Petroleum Company purchased Tidewater's western refining, distribution and retailing network. Phillips immediately rebranded all Flying A stations in the region to Phillips 66. On the East Coast that year, American-born British petrol-industrialist J. Paul Getty merged his numerous oil interests into Getty Oil Company, and Tidewater Oil was dropped as a corporate brand.

In 2000, BP acquired the Veedol brand when it bought Burmah-Castrol. In February 2011, BP offered to sell the Veedol brand, which was purchased that October by Tide Water India, part of the Andrew Yule group Indian company.

Mission

Our mission is to be the global leader in integrated marine services, providing industry-leading services, safety and reliability to customers around the world.

Vision

Our vision is to create a maritime organization focused on innovation, customer satisfaction and environmental protection through the use of leading-edge technologies and services.

Key Team

Mr. Daniel A. Hudson (Exec. VP, Gen. Counsel & Corp. Sec.)

Mr. Darren J. Vorst (VP & Treasurer)

Mr. Lee R. Johnson (Sr. VP & Chief Information Officer)

Piers Middleton (VP Sales & Marketing)

Mr. Bruce D. Lundstrom (Advisor)

Mr. Jeffrey A. Gorski (Advisor)

Recognition and Awards

Tidewater has won numerous awards, including the U.S. Coast Guard Meritorious Public Service Award and the Marine Transportation Safety Excellence Award from the Department of Transportation.