Tidewater Gets Waiver Extensions
As previously reported, Tidewater Inc. (NYSE: TDW) has been in discussions with its principal lenders and noteholders to amend the company's various debt arrangements to obtain relief from certain covenants. Pending the resolution of those discussions, the company received limited waivers from the necessary lenders and noteholders which waived compliance with these covenants until October 21, 2016. The company has now received extensions of these waivers until November 11, 2016.
Tidewater Inc. Not Implicated in Government Sanctions
Tidewater Inc. announced that it is not affiliated with Tidewater Middle East Co. (or any of its affiliates) of Iran, which were the target of new U.S. Government sanctions announced jointly by the U.S. Treasury Department and the U.S. Department of State. The Treasury Department, in announcing the new sanctions on June 23, noted in its press release “Fact Sheet” that “The entity being designated today, Tidewater Middle East Co., is separate and distinct from Tidewater Inc., an international shipping company headquartered in the United States and listed on the New York Stock Exchange as TDW.
Tidewater Declares Dividend
Tidewater Inc.'s board of directors declared a quarterly dividend of $.15 per share on Tidewater's approximately 57 million shares of common stock outstanding. The dividend was declared during a regular meeting of the board and is payable June 21, 2007 to shareholders of record on June 11, 2007. Tidewater Inc. owns 463 vessels, the world's largest fleet of vessels serving the global offshore energy industry.
Tidewater Names New Manager for Quality Shipyards
Tidewater Inc. announced that Joseph R. Badeaux has joined Tidewater Inc. as General Manager and Vice President of its shipyard, Quality Shipyards, L.L.C. Mr. Badeaux has 29 years of experience in ship design, construction, repair, commissioning, project management and operations management. He is a graduate of Old Dominion University, and originally from Virginia, and will be based at Tidewater's Quality Shipyards, L.L.C. located in Houma, Louisiana.
Taylor Elected As Chairman of Tidewater Inc.
Dean E. Taylor has been elected as Chairman of its Board of Directors at Tidewater Inc. Taylor will also retain the positions of President and Chief Executive Officer, which positions he has held since October 2001 and March 2002, respectively. He is replacing William C. O'Malley, who has served as Chairman of the Board since 1994. O'Malley will continue as a director of the Company, having been reelected by shareholders to a three year term ending in July 2006.
Telaurus Wins Tidewater Contract
Telaurus Communications LLC of Cedar Knolls, N.J., has been awarded a two-year contract to provide Tidewater Inc. with Telaurus Communications’ se@COMM family of communications solutions software, voice and data services for Tidewater’s world-wide fleet of offshore oilfield supply vessels. “Tidewater was approached by virtually all Iridium Tier 1 Providers but chose Telaurus based on pricing and the software assists the se@COMM products enable. After exhaustive testing with competing product offerings, Telaurus pricing and software performance proved to be the winning combination for Tidewater”, said Bo Wiggins, Director of Information Technology at Tidewater Inc.
Lundstrom Joins Tidewater
Tidewater Inc. said that Bruce D. Lundstrom has joined Tidewater as Senior Vice President, General Counsel and Secretary. Lundstrom, who will report to Chairman, President and CEO Dean Taylor, will be responsible for the Legal, Insurance and Human Relations/Benefits staffs of the company, and will also act as Tidewater's Chief Compliance Officer. He joins Tidewater following a ten-year career within the oil and gas industry. In his most recent position at Prisma Energy International Inc. as Senior Vice President and General Counsel. Tidewater Inc. owns 454 vessels, the world's largest fleet of vessels serving the global offshore energy industry.
Tidewater Promotes Mancheski
Tidewater Inc. (NYSE: TDW) announced that Matthew A. Mancheski, currently Senior Director of Strategic Planning and Financial Analysis of the company, has been promoted to the position of Vice President - Chief Information Officer and Chief Strategic Planning Officer, effective March 4, 2010. Mancheski will be responsible for overseeing information technology, software applications, and all strategic planning initiatives of the company. Mancheski is a 1997 graduate of the University of New Orleans with a degree in Finance. He received his MBA from Tulane University in 2008.
Tidewater Announces Expanded Investigation
Tidewater Inc. investigation was warranted. countries. Tidewater Inc. serving the global offshore energy industry.
Tidewater CEO Taylor to Retire
Tidewater Inc. (NYSE:TDW) announced today that Dean Taylor, its President and CEO since March 2002, will retire as an executive officer of the company effective May 31, 2012, after a 34-year career with Tidewater. Mr. Taylor will remain on the Board of Directors, and serve as Tidewater’s non-executive Chairman of the Board. Jeffrey M. Platt will become Tidewater’s new President and CEO effective June 1, 2012. Platt has been Tidewater’s COO, overseeing Tidewater’s domestic and international marine operations, since July 2006.
Tidewater Declares Quarterly Dividend on Common Stock
Tidewater Inc. announced that its board of directors has declared a quarterly dividend of $.15 per share on Tidewater's approximately 55.8 million shares of common stock outstanding. The dividend was declared by a unanimous written consent of the directors and is payable September 10, 2007, to shareholders of record on August 31, 2007.
Tidewater Sells North Sea Boats
Tidewater Inc. will sell its North Sea safety-standby boats to BUE Marine Limited of Edinburgh, Scotland. The $40 million all-cash deal is expected to close by late June. The 28 safety-standby boats were obtained by Tidewater as part of earlier acquisitions. This type of rescue vessel is required for oil and gas entities operating in the North Sea.
Tidewater Names McNee VP
Tidewater Inc. has promoted Reg McNee, head of the company's Far East division for the last three years, to the office of vice president. McNee joined the company in July 1997, and has most recently been in charge of operations in Indonesia, Malaysia, Vietnam, Thailand, Australia and Dubai. He will continue to be based in Singapore. Tidewater owns and operates over 570 vessels.
Tidewater Christens New Vessel
Tidewater Inc. announced that one of its new vessels, the M/V Pat Taylor, named in honor of the late New Orleans businessman, Patrick F. Taylor, will be christened on August 21, at the wharf of the Hilton New Orleans Riverside. Mrs. Phyllis M. Taylor, wife of Pat Taylor and current Chairman and CEO of Taylor Energy Company LLC, will christen the new 220-ft. platform supply vessel which was built by Quality Shipyards, LLC, a subsidiary of Tidewater located in Houma, La.
Tidewater, ENSCO Will Close Transaction on April 1
Tidewater Inc. and ENSCO International Incorporated jointly announced today that Hart-Scott-Rodino clearance had been obtained and that all other conditions to closing have been satisfied with respect to the previously announced sale by ENSCO of its 27-vessel Gulf of Mexico fleet to Tidewater. The transaction is expected to be completed as of 12:01 a.m., Tuesday, April 1, 2003.
Tidewater Signs Agreement Of Intent
Tidewater, Inc. has signed an agreement of intent to acquire six newbuild vessels from Hvide Marine Incorporated, for an aggregate price of $22 million. Closing, which is expected sometime during July 1999, is subject to customary due diligence matters, including executing a definitive agreement and satisfactory inspections of the vessels by Tidewater.
Tidewater To Build New Vessels For $300M
Tidewater Inc. will build new vessels for a total of about $300 million. The company plans to fund the program using its current cash balances, which exceed $150 million, its projected cash flow and its existing $200 million line of credit. Currently, Tidewater is debt-free. The new vessels will include large Anchor Handling Towing Supply vessels and large Platform Supply vessels, company officials said. The company expects delivery of the new vessels to begin in two years.
Tidewater Eyeing Superior Offshore Assets
The CEO of Tidewater Inc said his company is evaluating assets from Superior Offshore International which last week warned of limited liquidity, Reuters reported said the process was in the very early stages for Tidewater, which is the world's largest provider of offshore supply boats to the energy industry. On April 1, Superior Offshore, which provides subsea construction and commercial diving services, said it hired the investment back of Tudor, Pickering, Holt & Co. to explore strategic alternatives, including a possible sale. Source: Reuters
Tidewater Declares Quarterly Dividend
Tidewater Inc. announced that its Board of Directors declared on November 12, 2015, a quarterly cash dividend of $0.25 per share of common stock payable December 15, 2015, to shareholders of record on December 4, 2015. Tidewater is the leading provider of Offshore Service Vessels (OSVs) to the global energy industry.
Tidewater Reports 3Q Results
Tidewater Inc., announced third quarter net earnings for the period ended December 31, 2001, of $34 million on revenues of $ 182 million. For the same quarter last year, net earnings were$ 22 million on revenues of $159 million. Net earnings in the immediately preceding quarter ended September 30, 2001, were $ 35 million on revenues of $187 million.
Tidewater Reports 2Quarter Results
Tidewater Inc. announced its second quarter net earnings for the period ended September 30, 2002, of $23.4 million, or $.41 per share, on revenues of $158.5 million. For the same quarter last year, net earnings were $35.3 million, or $.63 per share, on revenues of $187.3 million. Net earnings in the immediately preceding quarter ended June 30, 2002, were $23 million, or $.41 per share, on revenues of $160.3 million.
Tidewater to Sell Fleet of Safety Standby Boats
Tidewater Inc., operator of the world's largest fleet of vessels serving the offshore energy industry, reportedly agreed to sell its North Sea safety-standby boats to BUE Marine Limited of Edinburgh, Scotland.
Tidewater To Purchase Platform Supply Vessels
Tidewater, Inc. has signed agreements, (which are subject to completion of normal due diligence matters), to buy two 220 ft. UT755 type platform vessels at an aggregate purchase price of $2.4 million. The vessels are currently being built by Norwegian shipyards for scheduled deliveries in December 2000 and May 2001.