Hornbeck Offshore (HOS) announced that subsidiary Helix Well Ops (U.K.) Limited has secured a multi-year decommissioning contract with a major North Sea operator, expected to start in the second quarter of 2027.
The firm term is two years with customer extension options. Work will cover riserless plug and abandonment operations using either the Well Enhancer or Seawell vessels and a fully integrated package including well access system, ROVs, saturation diving, and project management and engineering services.
Hornbeck Offshore Services (HOS) granted CEO Todd M. Hornbeck a performance-based equity award covering up to 1,500,000 common shares under its 2026 Omnibus Inducement Incentive Plan, in connection with the merger with Helix Energy Solutions Group.
The award, approved by the board and described as a material inducement to Mr. Hornbeck’s employment with the combined company, will vest in two tranches by year-end 2029. 500,000 shares vest upon achievement of target annualized gross synergies, while up to 1,000,000 shares vest upon achievement of specified share price targets, subject to plan terms and continued service.
Helix Energy Solutions Group (NYSE: HLX) and Hornbeck Offshore Services have completed their previously announced all-stock combination, forming a premier integrated offshore services company. The combined company has assumed the Hornbeck Offshore Services name and will begin trading on the New York Stock Exchange under ticker “HOS” on September 2, 2026. Helix common stock will cease trading on the NYSE under “HLX” at the close on September 1, 2026.
Todd M. Hornbeck becomes President, CEO and Director, with William L. Transier as Chairman. The company has installed a broad executive leadership team overseeing finance, subsea services, marine transportation, legal, accounting, human resources, commercial, defense/emerging technologies and compliance, positioning the merged business to provide integrated offshore solutions across deepwater oilfield, defense and renewables markets.
Hornbeck Offshore Services (HOS) has announced a U.S. Navy Mentor Protégé Agreement with Next Generation Logistics, (NGL). This agreement, approved by the Department of the Navy Office of Small Business Programs, aims to help NGL expand its footprint in the defense industrial base. NGL, headquartered in New Orleans, is the only 8(a) certified firm operating in marine transportation for federal, state, and local agencies.
The partnership will enable HOS to continue providing tailored solutions to support the U.S. Government. Todd Hornbeck, CEO of HOS, expressed enthusiasm for the formally approved relationship and the opportunities it will bring to NGL. Eddie Compass IV, CEO of NGL, stated that the agreement will fundamentally change NGL's business operations, allowing them to service the Navy both domestically and internationally.
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Hornbeck Offshore Services has acquired three high-spec offshore supply vessels from the U.S. Department of Transportation's Maritime Administration. The vessels are U.S.-flagged, Jones Act-qualified, with a capacity of approximately 4,600 DWT. The company plans to reactivate and perform regulatory drydockings on these vessels. CEO Todd Hornbeck emphasized their compatibility with the existing fleet and potential for deployment in the offshore wind industry or conversion for military applications. This acquisition reflects Hornbeck Offshore's commitment to expanding its operations in the energy sector.