Basically this was a drilling for hire business, and with the Seven Sisters oil cartel hungrily searching to offshore oil, there was little chance of failure. The Seven Sisters was a term of the Italian state oil company Eni, to describe the seven oil companies which formed the “Consortium for Iran’ cartel. The Seven Sisters dominated the global petroleum industry from the mid 1040s until the 1070s. The group consisted of Anglo-Persian Oil Company (now BP), Gulf oil, Standard Oil of California (SoCal), Texaco (now Chevron), Royal Dutch Shell, Standard Oil of New Jersey (now Esso/Exxon) and Standard Oil Company of New York (Socony/Exxon/Mobile).” Jeb! and the Bush Crime Family, pages 131-132
“With a new sense of direction, George H.W. Bush and company formed Zapata Offshore.
Basically this was a drilling for hire offshore....”
Bush and everyone else. There are thousands of these companies in Texas and Louisiana. Many of them have folded to be replaced by others. The author knows nothing about the oil business.
Drilling for oil is never a sure thing. Only one out of every 4 to 6 wells is actually profitable. This clown is ignorant of the business.