TIDEWATER INC

Tidewater Inc. (NYSE: TDW) operates as a global provider of marine and transportation services to the offshore energy industry. Founded in 1956, the company maintains its website at www.tdw.com and operates a diversified fleet of 208 offshore service vessels and support vessels serving customers across more than 30 countries as of December 31, 2025.

The company's core business involves providing vessel services that support all phases of offshore crude oil and natural gas exploration, field development, production and maintenance, as well as windfarm development and maintenance activities. Service offerings include towing and anchor handling for mobile offshore drilling units, supply and personnel transportation, offshore construction support, seismic and subsea support, and specialized services such as pipe laying and cable laying.

Tidewater's fleet comprises primarily Anchor Handling Towing Supply Vessels (AHTS) and Platform Supply Vessels (PSVs). As of December 31, 2025, the company operated 52 AHTS vessels across small, medium and large classes, and 139 PSVs in medium and large configurations, along with 17 other specialty vessels including crew boats and offshore tugs. During 2025, PSVs contributed approximately 72.3 percent of vessel revenue, AHTS vessels contributed 24.2 percent, and other vessels contributed 3.5 percent.

The company manages operations through five geographically aligned reporting segments: Americas, Asia Pacific, Middle East, Europe/Mediterranean, and West Africa. This structure enables rapid response to changing local market conditions and customer requirements. Tidewater's principal customers include large international integrated and independent oil and gas companies, mid-sized exploration and production firms, government-owned organizations engaged in oil and gas operations, offshore drilling contractors, and companies providing services to the offshore energy industry.

The company employs approximately 7,300 individuals globally across more than 30 countries. Tidewater conducts business through domestic and international subsidiaries and joint ventures, often structured to satisfy local ownership or content requirements. In February 2026, the company entered into a definitive agreement to acquire Wilson Sons Ultratug and Atlantic Offshore Services, which operate 22 platform supply vessels in Brazil, for $500 million on a debt-free, cash-free basis, expected to close in the second quarter of 2026.