Helix and Hornbeck Complete Merger, Form New Offshore Services Entity

Texas-headquartered Helix Energy Solutions and Louisiana-headquartered Hornbeck Offshore Services have completed their merger, establishing what Offshore Energy describes as a 'premier integrated offshore services company'. The announcement was made on 2 September 2026 by Offshore Energy.

As previously communicated in April, shareholders of Hornbeck will hold approximately 55% of the combined entity, while Helix shareholders will own about 45%. The new company will operate under the name Hornbeck Offshore Services, Inc., and its shares began trading on the New York Stock Exchange (NYSE) on 2 September under the ticker symbol "HOS". Helix's common stock, previously traded on the NYSE under "HLX", ceased trading at the close of 1 September.

Leadership and Structure

The combined company will have dual headquarters in Houston, Texas, and Covington, Louisiana. Todd M. Hornbeck will serve as President, Chief Executive Officer (CEO), and Director. William L. Transier has been appointed Chairman of the Board of Directors.

Todd Hornbeck stated that the merger creates "a global offshore services leader," integrating Hornbeck's marine expertise with Helix's robotics, well intervention, and subsea capabilities. He added that the new entity would provide "innovative and integrated solutions" to clients across the deepwater oilfield, defense, and renewables sectors.

Synergies and Market Focus

The merger aims to combine Helix’s well intervention assets and robotics with Hornbeck’s specialty and ultra-high specification offshore support vessels. This integration is designed to form a complementary, end-to-end service offering intended to address a broader range of clients' deepwater requirements.

William L. Transier remarked that the transaction represents the culmination of a "shared vision to create a market-leading offshore services company with unique capabilities and strategic flexibility." He highlighted that the merger brings together "two highly complementary organizations with strong cultures, exceptional people and deep customer relationships." The company anticipates generating $75 million or more in annual revenue and cost synergies within three years of the merger's completion. The new entity will offer engineered solutions for the offshore oil & gas, defense, and renewables industries.