Ensuring end-to-end services for clients, Helix Energy Solutions and Hornbeck Offshore Services have announced a strategic combination across multiple sectors including deepwater energy. 

The strategic combination will create a scaled, life-of-field business offering engineered solutions in offshore oil and gas, among other sectors. The consolidation results to a diversified and expanded high-specification fleet of specialty vessels, supported by subsea robotics, well intervention and technical service capabilities, including trenching subsea pipelines and cables. Clients can expect innovative and integrated subsea and marine transportation solutions across deepwater energy, defense and renewables. The multi-faceted service portfolio will span the entire life-cycle of deepwater fields, bringing together Helix's intervention and decommissioning expertise, and the predominance of Hornbeck's high specification offshore service vessels in the Americas.

As both the partners have entered into a definitive agreement to combine in an all-stock transaction, once effective, it will secure approximately 55% for Hornbeck shareholders while around 45% for Helix shareholders.

"In merging two proven industry leaders with industry-leading teams, assets and offerings, this transaction creates a global deepwater vessel and services company with the scale and capabilities to deliver sustainable, long-term growth," said Owen Kratz, President and Chief Executive Officer of Helix. "This combination is a compelling opportunity to enhance value for Helix’s shareholders, building on our momentum as one of the world’s premier marine service contractors."

"We are confident that by capitalizing on each company’s unique expertise, we will unlock meaningful strategic and operational benefits that enhance our ability to serve customers worldwide and drive significant shareholder value creation," said Todd M Hornbeck, Chairman, President and Chief Executive Officer of Hornbeck. "The combined company will be a growth-oriented company driven by the desire to provide innovative, high-quality, value-added business solutions with an emphasis on safety and an entrepreneurial culture."