Helix Energy Solutions Group Inc

Helix Energy Solutions Group and Hornbeck Offshore Services have agreed to combine in an all-stock transaction that will create an integrated offshore services provider. At closing, which is expected to occur in the second half of 2026, subject to approval by Helix shareholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions, Helix shareholders will own approximately 45% of the combined company and Hornbeck shareholders approximately 55%. The combined entity will operate under the Hornbeck Offshore Services name, trade on the New York Stock Exchange under the ticker HOS, and be led by Todd Hornbeck as president and CEO. The companies expect to realize $75 million or more in annual cost and revenue synergies within three years, and the combined backlog stands at $2 billion. Helix also reported second-quarter net income of $22.7 million, or $0.15 per diluted share, reflecting an improvement from a net loss of $13.4 million in the first quarter of 2026.