Two US players merge into ‘premier integrated offshore services company’

April 23, 2026, by Nadja Skopljak

Texas-headquartered offshore energy services provider Helix Energy Solutions and Hornbeck Offshore Services, a Louisiana-headquartered supplier of offshore transport services, have entered into a definitive agreement to combine in an all-stock transaction, establishing what they say will become a premier integrated offshore services company.

Hornbeck shareholders will own approximately 55% and Helix shareholders will own approximately 45% of the combined company on a fully diluted basis, which will, post closing, operate under the Hornbeck Offshore Services name and trade on the New York Stock Exchange (NYSE) under the ticker symbol “HOS”.

The company will be headquartered in Houston, Texas, and Covington, Louisiana, with Todd M. Hornbeck serving as President and Chief Executive Officer (CEO). The Board of Directors will comprise seven persons, three from Helix and four from Hornbeck, including Hornbeck. William L. Transier will serve as Chairman.

“In merging two proven industry leaders with industry-leading teams, assets and offerings, this transaction creates a global deepwater vessel and services company with the scale and capabilities to deliver sustainable, long-term growth,” said Owen Kratz, President and CEO of Helix. “This combination is a compelling opportunity to enhance value for Helix’s shareholders, building on our momentum as one of the world’s premier marine service contractors.”

According to Helix, the merger will combine Helix’s well intervention assets and robotics with Hornbeck’s specialty and ultra-high specification offshore support vessels to form a complementary, end-to-end service offering that meets a broader share of clients’ deepwater needs.

The combined company will provide engineered solutions for the offshore oil & gas, defense and renewables industries, with the transaction expected to generate $75 million or more in annual revenue and cost synergies within three years following close.

“We are confident that by capitalizing on each company’s unique expertise, we will unlock meaningful strategic and operational benefits that enhance our ability to serve customers worldwide and drive significant shareholder value creation,” said Hornbeck. “The combined company will be a growth‑oriented company driven by the desire to provide innovative, high-quality, value-added business solutions with an emphasis on safety and an entrepreneurial culture.”

The transaction is subject to approval by Helix shareholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions.