Tidewater Inc. (TDW)
2012 Barclays CEO-Energy Conference Transcript
September 6, 2012 8:25 AM ET
Jeff Platt - President and CEO
Quinn Fanning - Executive Vice President and CFO
Good morning, everyone. I want to keep things moving right along. Up next we have Jeff Platt, President and CEO of Tidewater. Jeff was promoted to the CEO role in June, taking over following Dean Taylor’s retirement. Jeff has been with Tidewater since 1996 and served as the company’s COO prior to his promotion. Please welcome Jeff Platt.
Well, good morning, everybody. Thank you for attending here for Tidewater. We are happy to be at Barclays and take you through the Tidewater story. First, we’ve got to get through the Safe Harbor statement to satisfy the lawyers and I think that’s about as much time, we won’t spend on that.
Key takeaways today as Quinn and I do the presentation, and walk through it, again with Tidewater, story begins with safety, that’s the first thing that we need to provide to our clients. It’s absolutely paramount in the industry.
Certainly, after Macondo, that’s been all more underscored. Our journey to safe operations had begun much earlier than that, have a slide today to show you where we are in comparison with some other companies, clients of ours as well to show the safety programs and the effects that they have on our operations.
The tide is turning, recently over the last 12 months or so, when you look at the rig counts that’s the single biggest proxy for our, the strength of our business. Our vessels do other things than supply and support drilling rigs, but when you look at the health of the drilling operations worldwide, that’s probably the single one proxy that gives you an indication of the state of our business. So we’re drilling that a little bit.