GeoSphere Capital Management, LLC In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), GeoSphere Capital Management, LLC reported 24 stock positions worth $119.9 million . Its top holding was Weatherford International PL (WFRD) at 9.1% of the portfolio, followed by Cenovus Energy (CVE, 7.3% ) and Scorpio Tankers (STNG, 7.2% ). Compared with Q4 2023, it opened 13 new positions, sold out of 10, added to 8 and reduced 3. The biggest buy was a new position in Ramaco Resources Class A (METC) and the biggest sale an exit from Arch Resources (ARCH).
Location MIAMI BEACH, FL
CIK 0001426876
Portfolio Value $119.9M (Q1 2024) Holdings 24 stocks · $119.9M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 WFRD Weatherford International PL 94,000 $10.8M Add +44.6% CVE Cenovus Energy Inc. 436,000 $8.7M Add +107.6% STNG Scorpio Tankers Inc. 120,500 $8.6M Add +0.4% METC Ramaco Resources Inc. Class A 462,000 $7.8M New TDW Tidewater Inc. 84,000 $7.7M Reduce -38.3% UEC Uranium Energy Corp. 1,090,000 $7.4M Add +201.1% CCJ Cameco Corp. 169,000 $7.3M Add +41.8% SLB SLB Ltd. filed as SCHLUMBERGER LTD 115,568 $6.3M New VAL Valaris Ltd. 82,930 $6.2M New HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I 447,625 $4.9M Add +41.8% GDXJ Vaneck Junior Gold Miners 125,000 $4.8M New NXE Nexgen Energy Ltd. 600,000 $4.7M New EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP 45,000 $4.0M New AA Alcoa Corp. 116,196 $3.9M New KGC Kinross Gold Corp. 635,000 $3.9M Add +58.8% BTU Peabody Energy Corp. 140,000 $3.4M New B Barrick Gold Corp. 175,000 $2.9M New DVN Devon Energy Corp. 56,000 $2.8M New SIL Global X Silver Miners ETF 100,000 $2.7M New IE Ivanhoe Electric Inc. / US 250,000 $2.5M Add +400.0% DO Diamond Offshore Drilling Inc. 175,000 $2.4M New NMM Navios Maritime Partners LP 50,000 $2.1M New INSW International Seaways Inc. 40,000 $2.1M Reduce -27.3% KOS Kosmos Energy Ltd. 300,000 $1.8M Reduce -71.0%
Options reported separately and not counted above: IWM puts ($9.5M), XLB puts ($4.6M), CVE puts ($4.0M), X calls ($2.0M), AA calls ($706K).
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ ARCH Arch Resources Inc. Sold out 0.00% −9.54 PAAS Pan American Silver Corp. Sold out 0.00% −7.59 KOS Kosmos Energy Ltd. Reduce -71.0% 1.49% −6.57 BORR Borr Drilling Ltd. Sold out 0.00% −5.99 AR Antero Resources Corp. Sold out 0.00% −5.27 TDW Tidewater Inc. Reduce -38.3% 6.45% −4.95 NESR National Energy Services Reu Sold out 0.00% −3.96 EU Encore Energy Corp. Sold out 0.00% −3.18 WPM Wheaton Precious Metals Corp. Sold out 0.00% −2.29 NE Noble Corp. PLC Sold out 0.00% −2.24 SLI Standard Lithium Ltd. Sold out 0.00% −1.41 INSW International Seaways Inc. Reduce -27.3% 1.78% −1.13 LZM Lifezone Metals Ltd. Sold out 0.00% −0.42
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ METC Ramaco Resources Inc. Class A New 6.49% +6.49 SLB SLB Ltd. New 5.28% +5.28 VAL Valaris Ltd. New 5.21% +5.21 GDXJ Vaneck Junior Gold Miners New 4.04% +4.04 NXE Nexgen Energy Ltd. New 3.89% +3.89 UEC Uranium Energy Corp. Add +201.1% 6.14% +3.45 EXE Expand Energy Corp. New 3.33% +3.33 AA Alcoa Corp. New 3.28% +3.28 CVE Cenovus Energy Inc. Add +107.6% 7.27% +3.21 BTU Peabody Energy Corp. New 2.83% +2.83 B Barrick Gold Corp. New 2.43% +2.43 DVN Devon Energy Corp. New 2.34% +2.34 SIL Global X Silver Miners ETF New 2.29% +2.29 DO Diamond Offshore Drilling Inc. New 1.99% +1.99 NMM Navios Maritime Partners LP New 1.78% +1.78 WFRD Weatherford International PL Add +44.6% 9.05% +1.66 IE Ivanhoe Electric Inc. / US Add +400.0% 2.04% +1.46 KGC Kinross Gold Corp. Add +58.8% 3.25% +0.44 HOS Hornbeck Offshore Services I Add +41.8% 4.05% +0.28 CCJ Cameco Corp. Add +41.8% 6.11% +0.14 STNG Scorpio Tankers Inc. Add +0.4% 7.19% −1.28
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 70,000 $33.3Mbefore exit IWM iShares Russell 2000 ETF put New 45,000 $9.5M XLB SS Materials Select Sector put New 50,000 $4.6M CVE Cenovus Energy Inc. put New 200,000 $4.0M X United States Steel Corp. call New 50,000 $2.0M AA Alcoa Corp. call New 20,900 $706K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 38 $193.0M NESR, BKV, WULF, CNR, FLR Q1 2026 40 $166.2M BKV, CNR, NESR, VIST, CCJ Q4 2025 34 $144.8M NESR, BKV, CNR, CCJ, SEI Q3 2025 40 $131.0M NESR, BKV, CCJ, SEI, CVE Q2 2025 39 $97.5M CCJ, BKV, NESR, SEI, GLNG Q1 2025 28 $85.4M FNV, EQT, NESR, CNR, BKV Q4 2024 30 $99.5M NESR, EQT, CONSOL ENERGY INC, BKV, FANG Q3 2024 33 $120.4M KGC, CONSOL ENERGY INC, CCJ, SBLK, COP Q2 2024 26 $128.7M ZIM, WFRD, CVE, STNG, CONSOL ENERGY INC Q1 2024 24 $119.9M WFRD, CVE, STNG, METC, TDW