TIDEWATER INC — Director's Dealing 2006

Sep 19, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2006-09-15

Reporting Person: LOUSTEAU J KEITH (Exec VP, CFO & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-09-15	Common Stock	S	800	$43.44	Disposed	52682	Direct
2006-09-15	Common Stock	S	4200	$43.33	Disposed	48482	Direct
2006-09-15	Common Stock	S	1100	$43.31	Disposed	47382	Direct
2006-09-15	Common Stock	S	200	$43.30	Disposed	47182	Direct
2006-09-15	Common Stock	S	100	$43.29	Disposed	47082	Direct
2006-09-15	Common Stock	S	800	$43.30	Disposed	46282	Direct
2006-09-15	Common Stock	S	100	$43.29	Disposed	46182	Direct
2006-09-15	Common Stock	S	200	$43.29	Disposed	45982	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4837	Indirect

Footnotes

F1: Acquired on a periodic basis by the Trustee of the Tidewater Inc. 401(k) Savings Plan. Includes shares acquired for my account through August 31, 2006.