Tidewater's management on the offshore inflection $TDW
The management team from Tidewater Offshore (TDW) comes on the podcast to discuss Tidewater and why we could be at an inflection point for the offshore space. TDW's investor relations page (with investor deck): https://investor.tdw.com/overview/default.aspx December OSV market report (from seabrokers): https://www.seabrokers.no/wp-content/uploads/SEABREEZE_December.pdf Chapters 0:00 Intro 2:50 What's different in the current cycle? 8:00 Why supply is so limited in offshore 13:10 What is TDW seeing on the demand side? 26:00 Discussing TDW's valuation and where earnings can go as rates rise 32:30 TDW's potential utilization 38:10 EBITDA to free cash flow conversion 43:00 What do day rates look like right now? 47:10 How has TDW set up their fleet to take advantage of rising rates? 51:10 But seriously.... why is this time different? 57:30 How low would oil prices need to go to start impacting offshore drilling demand? 59:00 TDW capital allocation going forward