Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
TAYLOR DEAN E
   2. Issuer Name and Ticker or Trading Symbol
TIDEWATER INC [TDW] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
(Last)
(First)
(Middle)
C/O TIDEWATER INC., 601 POYDRAS ST., SUITE 1900		 3. Date of Earliest Transaction (Month/Day/Year)
05/23/2007
(Street)

NEW ORLEANS, LA 70130		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/23/2007   M   25,000 A $ 45.625 119,714 D  
Common Stock 05/23/2007   M   1,195 A $ 22.75 120,909 D  
Common Stock 05/23/2007   M   3,100 A $ 32.25 124,009 D  
Common Stock 05/23/2023   S   300 D $ 66.19 123,709 D  
Common Stock 05/23/2007   S   1,100 D $ 66.2 122,609 D  
Common Stock 05/23/2007   S   2,900 D $ 66.26 119,709 D  
Common Stock 05/23/2007   S   500 D $ 66.28 119,209 D  
Common Stock 05/23/2007   S   1,500 D $ 66.29 117,709 D  
Common Stock 05/23/2007   S   500 D $ 66.3 117,209 D  
Common Stock 05/23/2007   S   200 D $ 66.31 117,009 D  
Common Stock 05/23/2007   S   1,000 D $ 66.33 116,009 D  
Common Stock 05/23/2007   S   500 D $ 66.34 115,509 D  
Common Stock 05/23/2007   S   700 D $ 66.35 114,809 D  
Common Stock 05/23/2007   S   100 D $ 66.37 114,709 D  
Common Stock 05/23/2007   S   600 D $ 66.4 114,109 D  
Common Stock 05/23/2007   S   1,100 D $ 66.41 113,009 D  
Common Stock 05/23/2007   S   100 D $ 66.42 112,909 D  
Common Stock 05/23/2007   S   200 D $ 66.48 112,709 D  
Common Stock 05/23/2007   S   100 D $ 66.49 112,609 D  
Common Stock 05/23/2007   S   800 D $ 66.5 111,809 D  
Common Stock 05/23/2007   S   1,300 D $ 66.51 110,509 D  
Common Stock 05/23/2007   S   100 D $ 66.52 110,409 D  
Common Stock 05/23/2007   S   500 D $ 66.53 109,909 D  
Common Stock 05/23/2007   S   1,100 D $ 66.59 108,809 D  
Common Stock 05/23/2007   S   300 D $ 66.6 108,509 D  
Common Stock 05/23/2007   S   1,300 D $ 66.63 107,209 D  
Common Stock 05/23/2007   S   1,000 D $ 66.64 106,209 D  
Common Stock 05/23/2007   S   400 D $ 66.66 105,809 D  
Common Stock 05/23/2007   S   592 D $ 66.72 105,217 D  
Common Stock               3,688.5804 I By Trustee (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 45.63 05/23/2007   M     25,000 03/26/1999(2) 03/26/2008 Common Stock 25,000 $ 0 0 D  
Stock Option (Right to Buy) $ 22.75 05/23/2007   M     1,195 03/11/2000(2) 03/11/2009 Common Stock 1,195 $ 0 0 D  
Stock Option (Right to Buy) $ 32.25 05/23/2007   M     3,100 03/29/2001(2) 03/29/2010 Common Stock 3,100 $ 0 22,900 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
TAYLOR DEAN E
C/O TIDEWATER INC.
601 POYDRAS ST., SUITE 1900
NEW ORLEANS, LA 70130		   X     President  

Signatures

 Dean Taylor, By: Cliffe F. Laborde - Agent and Attorney in Fact   05/25/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Acquired on a periodic basis by the Trustee of the Tidewater Inc. 401(k) Savings Plan. Includes shares acquired for the account through April 30, 2007.
(2) The options vested in three annual installments beginning on the date indicated.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.