GeoSphere Capital Initiates Borr Drilling Position as Offshore Rig Markets Tighten

According to a SEC filing dated February 09, 2026, GeoSphere Capital Management, LLC reported a new position in Borr Drilling (NYSE:BORR), acquiring 1,385,000 shares during the fourth quarter. The estimated value of this trade is $5.58 million, based on the average closing price over the quarter. The quarter-end value of the position increased by $5.58 million, all attributable to the new position initiated during the quarter.

This is a new position for GeoSphere; the Borr Drilling stake now accounts for 1.8371% of the fund’s reportable assets under management.

Top holdings after the filing:

• NASDAQ: NESR: $22,160,842 (15.3% of AUM)

• NYSE: BKV: $15,064,368 (10.4% of AUM)

• NYSE: CNR: $7,523,350 (5.2% of AUM)

• NYSE: CCJ: $6,720,855 (4.6% of AUM)

• NYSE: SEI: $5,951,828 (4.1% of AUM)

As of February 20th, 2026, shares of Borr Drilling were priced at $5.95, up 95% over the past year.

Borr Drilling Limited provides offshore drilling services, primarily through the ownership and operation of jack-up rigs for shallow-water oil and gas exploration and production. The company operates as an offshore drilling contractor specializing in jack-up rigs for shallow-water oil and gas operations, serving major energy producers worldwide.

The company generates revenue by contracting rigs and related services to oil and gas companies, charging for rig time, equipment, and work crews.

Borr Drilling Limited serves integrated oil companies, national oil companies, and independent exploration and production firms worldwide.

Borr Drilling Limited operates in the highly cyclical offshore jack-up drilling sector. Following years of underinvestment, offshore activity is recovering, and Borr’s stock has risen nearly 95% over the past year.

Borr generates revenue by renting out its jack-up drilling rigs to oil and gas companies for shallow-water projects. When more rigs are working, and contract prices rise, profits can increase quickly. The reverse is also true if activity slows. As offshore spending improves, stronger contract rates and higher rig activity can translate into better cash flow.

For investors, the key question to monitor is whether higher day rates and stronger rig demand can be sustained. High fleet utilization and manageable debt will also determine if Borr can translate industry improvements into consistent cash flow. The stock’s performance now depends more on the longevity of offshore capital spending than on short-term oil price fluctuations.

Before you buy stock in Borr Drilling, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Borr Drilling wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation, you’d have $415,256!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,151,865!*

Now, it’s worth noting Stock Advisor’s total average return is 892% — a market-crushing outperformance compared to 194% for the S&P 500. Don’t miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.

See the 10 stocks »

*Stock Advisor returns as of February 20, 2026.

Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cameco. The Motley Fool has a disclosure policy.

GeoSphere Capital Initiates Borr Drilling Position as Offshore Rig Markets Tighten was originally published by The Motley Fool