Mason Capital Buys 2.2 Million Shares of Borr Drilling

Hedge fund takes new position in offshore drilling contractor as stock surges 150% in past year

Mar. 6, 2026 at 3:48pm

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According to a recent SEC filing, New York-based hedge fund Mason Capital Management LLC has established a new position in Borr Drilling Limited, purchasing 2,182,136 shares worth an estimated $8.79 million. Borr Drilling is an offshore drilling contractor that operates a fleet of jack-up rigs, serving major oil and gas clients with long-term contracts.

Why it matters

Borr Drilling's stock has surged around 150% over the past year, driven by rising oil prices and the company's successful management of its balance sheet, including reducing its overall debt load. The new investment by Mason Capital suggests the hedge fund sees further upside potential in Borr Drilling's business and stock performance.

The details

In the SEC filing dated February 17, 2026, Mason Capital disclosed that it had acquired 2,182,136 shares of Borr Drilling, representing 1.57% of the fund's reportable assets under management as of the end of 2025. The estimated transaction value was $8.79 million based on the average share price during the filing quarter. Borr Drilling is an offshore drilling contractor that operates a global fleet of jack-up rigs, serving major oil and gas clients with long-term contracts.

  • On February 17, 2026, Mason Capital Management LLC disclosed the new position in Borr Drilling Limited.

The players

Mason Capital Management LLC

A New York-based hedge fund that has disclosed a new position in Borr Drilling Limited, purchasing 2,182,136 shares worth an estimated $8.79 million.

Borr Drilling Limited

A global offshore drilling contractor specializing in shallow-water jack-up rigs, with a significant operational fleet and a focus on efficiency and safety.

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The takeaway

This investment by Mason Capital suggests the hedge fund sees further upside potential in Borr Drilling's business and stock performance, which has already surged around 150% over the past year driven by rising oil prices and the company's successful balance sheet management.