history

 tidewater timeline

awards and achievements
 
Tidewater Timeline
Significant Events: From 1955 Through 2004
1955 - Ten investors build the Ebb Tide, the first oil and gas service vessel.
1956 - Tidewater Marine Service, Inc., a public company, opens for business in the U.S. Gulf of Mexico.
1958 - International operations begin in Lake Maracaibo, Venezuela.
1962 - Tidewater pays first stock dividend of $.05 per share.
1963 - Net earnings exceed $1 million mark for the first time.
1966 - Fleet expands to greatest numbers. More than 200 vessels at work in the United States, South America, Central America and West Africa.
1968 - Tidewater acquires Twenty Grand Marine increasing fleet to 350 vessels.
1969 - Tidewater acquires South Coast Gas Compression to create Tidewater Compression Service, Inc.
1970 - The New York and Pacific stock exchanges list Tidewater 'TDW.' Tidewater also acquires interest in oil production in waters off of Indonesia.
1971 - Tidewater acquires corporate office in the Tidewater Marine building in New Orleans, Louisiana.
1977 - Tidewater's name expands to Tidewater Inc. and the company acquires a 24-story building in New Orleans for corporate headquarters: Tidewater Place. In addition, Tidewater Inc. purchases Hilliard Oil & Gas, an oil drilling and production firm.
1978 - Revenues rise above $180 million and earnings top $30 million.
1979 - Tidewater Inc. adds 26 new vessels to its marine fleet at a cost of $37.1 million.
1983 - Tidewater Inc. completes a $200 million, 59-vessel new construction program.
1984 - Irwin Jacobs Group offers to purchase all of Tidewater's stock in a merger proposal.
1985 - Tidewater Inc. records first loss in its 29-year history when the oil and gas industry endures some of the worst times on record. The company also sells Hilliard Oil & Gas.
1986 - Tidewater Inc. completes a two-year building program that adds 40 vessels to the fleet at a cost of $104 million.
1987 - Tidewater Inc. records a $56.7 million loss and restructures debt with its major lenders. The company's Indonesian oil interests are sold.
1989 - The company receives but refuses an unsolicited buyout offer from the Jacobs Group who owned, at that time, 20.6 percent of Tidewater's stock.
1990 - Tidewater Inc. completes a successful offering of 5.5 million shares of common stock and pays down $61 million in senior debt.
1991 - The company's profitability returns and Tidewater Inc. begins a merger with Zapata Gulf Marine that will double the size of Tidewater Marine.
1992 - The merger with Zapata Gulf Marine is successfully completed and Tidewater Inc. purchases 19 offshore construction vessels from McDermott International.
1993 - Tidewater Inc. donates Tidewater Place to Tulane University. The company retires all senior debt.
1994 - Chairman, President and Chief Executive Officer John P. Laborde retires. Tidewater Compression expands by acquiring two companies - Brazos Gas Compression Corp. and a subsidiary of energy giant, Halliburton. William C. O'Malley takes over as Tidewater's chairman, president and CEO.
1995 - Tidewater Inc. restructures its corporate headquarters and field management offices.
1996 - Tidewater Inc. acquires Hornbeck Offshore Services, pushing the company's vessel count to more than 600.
1997 - Tidewater Inc. acquires O.I.L. Ltd., increasing its fleet to more than 700 vessels.
1998 - Revenues top the $1 billion mark for the first time. Earnings reach a record $315 million, doubling the earnings of a year earlier and quadrupling the earnings of two years previous.
2000 - Tidewater Inc. embarks on a $250 to $300 million new construction program that will position the company to fill a new market niche involving deepwater exploration.
2001 - Tidewater's modest new build program is upgraded to a $700 million plan, which will make her fleet among the top competitors in the deepwater markets of the world.
2002 - Dean E. Taylor takes over from William C O'Malley as Chairman, President and CEO
2003 - Tidewater announces its acquisition of 27 vessels from Ensco, which was part of an ongoing effort toward its fleet expansion and improvement programs
2004 - Tidewater receives the prestigious Safety in Seas Award granted by the National Ocean Industries Association (NOIA)

 

© 2005 Tidewater Inc.