Helix Energy Solutions Group, Inc. announced a proposed combination with Hornbeck Offshore to create an integrated offshore services company with an expanded high-specification fleet, subsea robotics, well intervention and trenching capabilities. Helix intends to file a Form S-4 to register Helix common stock to be issued in the proposed transaction.
The companies describe a stronger balance sheet and projected substantial free cash flow generation as objectives and note that completion is subject to customary conditions, including regulatory and shareholder approvals. The communication contains forward-looking statements and directs shareholders to the registration statement, the proxy statement/prospectus, and Helix SEC filings (including the Form 10-K for the year ended December 31, 2025) for important details.
Helix Energy Solutions Group announced a definitive agreement to combine with Hornbeck Offshore Services to create an integrated offshore services company. The transaction is expected to close in the second half of 2026, subject to Helix shareholder approval, regulatory approvals, and customary closing conditions.
Helix intends to file a registration statement on Form S-4 to register the Helix common stock to be issued in the merger and will mail a definitive proxy statement/prospectus to Helix shareholders after effectiveness. Until closing, both companies will operate independently and continue current operations.
Helix Energy Solutions Group and Hornbeck Offshore have agreed to merge to form a combined company that will operate as Hornbeck Offshore Services (NYSE: HOS). The transaction will be effected through a merger and Helix intends to file a Form S-4 registration statement that includes a proxy statement/prospectus for Helix Shares. The combined company will be headquartered in Covington, Louisiana, and Houston, Texas, with Todd M. Hornbeck serving as President and CEO. The announcement highlights a diversified high-specification vessel fleet, subsea robotics and well intervention capabilities, and an asserted history of over 75 years of combined operational experience. Helix and Hornbeck note that completion is subject to customary conditions, regulatory and shareholder approvals, and that risks and forward-looking statements are described in Helix’s SEC filings, including its Annual Report for the fiscal year ended December 31, 2025.
Helix Energy Solutions Group announces a definitive all-stock agreement to combine with Hornbeck Offshore Services. The companies say the transaction will create an integrated offshore services company and will be discussed on a joint conference call at 7:00 a.m. Central / 8:00 a.m. Eastern. Helix intends to file a Form S-4 registration statement to register Helix common stock to be issued in the transaction and will include a proxy statement/prospectus. The communication urges shareholders to read the registration statement, the proxy statement/prospectus and other filings with the SEC for material details and risks.
Helix Energy Solutions (HLX) announced an all‑stock combination with Hornbeck Offshore to create a scaled, integrated offshore services company expected to trade as HOS on the NYSE. At closing Helix shareholders are projected to own ~45% and Hornbeck shareholders ~55%, subject to Helix shareholder approval, regulatory approvals and customary closing conditions.
Helix reported Q1 2026 results: $288 million revenue, $9 million gross profit, $32 million adjusted EBITDA and a $13 million net loss, with $501 million cash and $612 million liquidity. The companies expect at least $75 million of annual synergies within three years and describe a combined fleet, expanded geographic footprint, and pro forma scale that management says will increase revenue and EBITDA materially.
Helix Energy Solutions Group, Inc. entered into a definitive agreement to combine with Hornbeck Offshore Services in an all‑stock merger to form a single integrated offshore services company.
Under the agreement Hornbeck shareholders would own approximately 55% and Helix shareholders approximately 45% of the combined company on a fully diluted basis. The parties expect the transaction to close in the second half of 2026, subject to shareholder and regulatory approvals, and estimate $75 million+ of annual revenue and cost synergies within three years following close. The combined company is expected to operate under the Hornbeck Offshore Services name and trade on the NYSE under the ticker HOS.
Helix Energy Solutions Group is combining with Hornbeck Offshore Services in an all-stock merger to create a premier integrated offshore services company. Hornbeck shareholders are expected to own about 55% and Helix shareholders about 45% of the combined company on a fully diluted basis.
Each Hornbeck share will be exchanged for 10.27167 shares of Helix, in a transaction expected to be tax-free to both shareholder groups and targeted to close in the second half of 2026, subject to Helix shareholder and regulatory approvals. The combined business, to be named Hornbeck Offshore Services and listed on the NYSE under “HOS”, will feature a large deepwater-focused fleet and is expected to generate at least $75 million in annual revenue and cost synergies within three years of closing.
Helix Energy Solutions Group reported first quarter 2026 revenue of $287.9 million, up slightly from a year ago, but posted a net loss of $13.4 million, or $(0.09) per diluted share, versus net income in both Q4 2025 and Q1 2025.
Adjusted EBITDA was $32.3 million, down from $73.9 million in Q4 2025 and $52.0 million in Q1 2025 as seasonal slowdowns, higher project costs and vessel reactivations weighed on margins. Despite lower earnings, Helix generated $59.0 million of Free Cash Flow and ended the quarter with $501.3 million in cash and negative Net Debt of $197.5 million, giving it substantial liquidity to pursue future opportunities in offshore well intervention, robotics and decommissioning.
Helix Energy Solutions Group is asking shareholders to vote at its 2026 Annual Meeting on May 13, 2026 at 8:30 a.m. in Houston. Items include electing three Class III directors, ratifying KPMG LLP as auditor for 2026, and an advisory vote on 2025 executive pay.
Shareholders of record at the close of business on March 17, 2026, when 147,296,092 common shares were outstanding, are entitled to one vote per share. Helix highlights that 86% of its seven-member Board is independent under NYSE rules, with an independent Chairman and fully independent committees, and emphasizes sustainability and risk oversight as core governance priorities.