(WO) – Helix Energy Solutions Group and Hornbeck Offshore Services have agreed to combine in an all-stock transaction, forming an integrated offshore services company focused on deepwater operations.
The combined company will bring together Helix’s subsea robotics and well intervention capabilities with Hornbeck’s fleet of high-specification offshore support vessels, creating a life-of-field service offering spanning subsea intervention, marine transportation and offshore construction support.
Following the transaction, Hornbeck shareholders will own approximately 55% of the combined entity, which will operate under the Hornbeck name and trade on the NYSE under the ticker “HOS.” The deal is expected to close in the second half of 2026, subject to approvals.
“In merging two proven industry leaders… 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.
Todd Hornbeck, chairman, president and CEO of Hornbeck, said the combination will “unlock meaningful strategic and operational benefits” and enhance the company’s ability to serve customers globally.
The companies expect the merger to generate at least $75 million in annual revenue and cost synergies within three years while expanding their presence across offshore oil and gas, defense and renewable markets.
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