TIDEWATER INC — Director's Dealing 2004

Oct 12, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2004-10-07

Reporting Person: CARLSON ARTHUR R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-07	Common Stock	M	1000	$23.375	Acquired	5100	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-07	Stock Option (Right to Buy)	$23.375	M	1000	Disposed	2004-10-20	Common Stock (1000)	Direct

Footnotes

F1: Stock option granted under the Tidewater Inc. 1997 Stock Incentive Plan. The plan pursuant to which the reported option was granted provides for tax withholding rights.