This image was produced by using the following techniques:-
Using place rather than move to create a layer with an image that fits the background layer.
Making a mask by using the quick selection tool and having the auto-enhance selected.
Using select and mask to refine a selection and then using the output settings before moving the image into the main file. Minor changes were made with the brush tool.
Creating text on a wavy line by using create warped text on the top bar.
Filter > Displace (with a new reference image opened from the sea layer) to create a text that merges with the sea.