Word: mecom
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...deeper drilling with more sophisticated equipment-have shut out most of the old breed of independent operators. A few independents, however, are still rich and ready enough for global competition with the major companies-and one of the richest and readiest is a stocky, straightforward Texan named John Whitfield Mecom. At 53, Mecom has amassed assets of between $400 million and $500 million, reaped largely from 30 years of roaming the world in search of oil. Last week, on yet another search, he started drilling in Jordan, one of the few Arab nations where oil has not been found...
...letter of intent from a combine of Durum A.G. (Zurich) and Texas Oil Magnate John W. Mecom for the exploration, exploitation and transportation of oil both on dry land and underwater...
...Mosquito Coast of Nicaragua, a U.S. independent firm has had as many as 200 men at work, and planned to bring in an offshore drilling barge. Houston's John W. Mecom and three associates were drilling a pair of exploratory wells in Honduras. In Guatemala, where 29 U.S. companies bid for exploration rights after the government of President Carlos Castillo Armas passed what oilmen called a "tough but workable" law, the process of sorting out overlapping concessions was going on, but no drilling had yet begun...
...small producer, brought up enough oil this year to supply its own needs for about two weeks. Cuba's biggest investor, Standard Oil Co. (Indiana), was also drilling two exploratory wells in Jamaica, where its wildcatting rights cover the whole island. In Haiti, Oilman Mecom and an associate drilled three dry holes, but plan to try again...
...marshes of southern Louisiana 14 months ago, an oil-drilling rig was towed into position and a 20-in. drill casing firmly planted in the muck. Fort Worth Oil Drillers Sid Richardson and Perry Bass, in a joint project with Freeport Sulphur Co. and Houston Oilman John W. Mecom, started drilling with high hopes of tapping a new field near Louisiana's rich Lake Washington field. But as the drill bit downward-to 5,000 feet, 10,000 feet, 15,000 feet-their hopes sank as fast as their costs rose. Drillers had to battle hole temperatures...