Photo: Illustration; Source: Tidewater

Tidewater adds ‘seasoned executive’ to its board to foster growth in recovering oil & gas market

U.S. offshore support vessel operator Tidewater has appointed a new member to its board of directors to assist in spearheading the company’s growth strategy as the offshore oil and gas market is recovering from the downturn.

Tidewater announced the appointment of Melissa Cougle to its board of directors on Tuesday. The appointment is effective immediately. The company added that Cougle is a recognized business leader with extensive experience in the oil and gas industry.

Larry Rigdon, Chairman of Tidewater’s Board of Directors, commented: “Melissa is a seasoned executive with a strong track record of leadership in the oil and gas sector. She has broad financial expertise and a track record of successfully consummating M&A transactions in the industry. In addition, she has extensive knowledge of the offshore oil and gas industry and the factors driving the industry. We are very pleased to welcome Melissa to the Tidewater board and look forward to her contribution to our future success.”

Cougle, who holds a Bachelor of Science in Business from Louisiana State University and is a Certified Public Accountant, began her career with Arthur Andersen in 1999 and subsequently held positions of increasing responsibility in the oilfield services industry at Ensco plc, and prior to that Pride International.

Melissa Cougle, Tidewater’s newest board member, remarked: “I’m honored to have the opportunity to join Tidewater’s Board, and I look forward to helping guide the company’s strategy as it positions itself to grow in a recovering offshore oil and gas market.”

Cougle also served as Senior Vice President and Chief Financial Officer of National Energy Services Reunited. Prior to joining Tidewater, Cougle served as Senior Vice President and Chief Financial Officer of Frank’s International until November 2021.

“Tidewater’s team has done an excellent job of navigating through the industry downturn, consistently generating cash and proactively managing its balance sheet, including the most recent refinancing. Tidewater represents an ideal platform for growth in the OSV industry and I’m excited to support the company’s strategic initiatives,” concluded Cougle.

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In a bid to reward the individuals who have assisted in reshaping the firm’s operations during the pandemic to foster growth despite the difficulties, Tidewater in March 2021 promoted two members of the company’s executive team, Sam R. Rubio and David E. Darling.