Two companies offering well intervention and other specialist offshore services in the Gulf of America, Helix Energy and Hornbeck Offshore Services, are moving ahead with a major merger plan.

In a June presentation to investors — Creating a Premier Integrated Offshore Services Company — Helix Energy outlined the rationale behind the deal ,and status of the transaction, which is expected to close in the second half of 2026, subject to approvals.

Helix Energy is a well-known supplier of well intervention, subsea robotics and technical services in the Gulf of America and overseas, while Hornbeck Offshore is renowned for its high-spec fleet of specialty vessels.

After the merger, the presentation noted that more than half of total group revenues will come from the US market, with Brazil, North Sea and West Africa also significant.

Approximately 80% of the 2025 combined revenues across both companies were derived from the oil and gas sector, with non-oil and gas accounting for just 20%.

While Hornbeck brings with it a larger fleet of offshore support and multipurpose vessels, Helix boasts a strong and established well intervention fleet.

In its Q1 2026 results, Helix Energy reported robust growth in its well intervention business, with results driven, in part, by strong Gulf of America activity.

Well Intervention revenues increased $28.4mn, or 16%, during the quarter compared to the prior quarter, primarily due to increases in the Gulf of America and Brazil, it noted.

The combined company will be renamed Hornbeck Offshore Services and trade on the New York Stock Exchange.

The post-merger team will be led by Todd M. Hornbeck, who will serve as the new combined entity’s President, CEO and Director.