Helix Energy to Merge with Hornbeck Offshore in All-Stock Deal, Creating Integrated Offshore Services Leader

summarizeSummary

Helix Energy Solutions Group announced a definitive all-stock merger with Hornbeck Offshore Services, forming a new integrated offshore services company with Hornbeck shareholders owning 55% and Helix shareholders 45%.

check_boxKey Events

• Definitive Merger Agreement Signed

  Helix Energy Solutions Group, Inc. and Hornbeck Offshore Services, Inc. have entered into a definitive all-stock merger agreement.

• New Ownership Structure

  Upon closing, Hornbeck shareholders will own approximately 55% and Helix shareholders approximately 45% of the combined company on a fully diluted basis.

• Combined Company Identity

  The combined company will operate under the Hornbeck Offshore Services name and trade on the NYSE under the ticker symbol 'HOS'.

• Leadership and Governance

  Todd M. Hornbeck will serve as President and CEO, and William L. Transier will be Chairman of the 7-member Board (4 from Hornbeck, 3 from Helix).

auto_awesomeAnalysis

Helix Energy Solutions Group has entered into a definitive all-stock merger agreement with Hornbeck Offshore Services, Inc. This transaction, which follows a news alert earlier today, is transformational, creating a diversified offshore services company with an expanded fleet and service offerings. While Helix shareholders will own a minority stake (45%) in the combined entity, the companies anticipate significant annual revenue and cost synergies of $75 million or more within three years. The combined entity will operate under the Hornbeck Offshore Services name and ticker 'HOS', signaling a new strategic direction and leadership structure. The merger is subject to Helix shareholder and regulatory approvals, with an expected close in the second half of 2026.