http://en.wikipedia.org/wiki/Zapata_Corporation
Zapata Corporation is a holding company based in Rochester, New York and originating from an oil company started by a group including the former United States president George H. W. Bush. Various writers have found links between the company and the United States Central Intelligence Agency.
The company traces its origins to Zapata Oil, founded in 1953 by George H. W. Bush, along with his business partners John Overbey, Hugh Liedtke, Bill Liedtke, and Thomas J. Devine. Bush and Thomas J. Devine were oil-wildcatting associates.[citation needed] Their joint activities culminated in the establishment of Zapata Oil.[1] The initial $1 million investment for Zapata was provided by the Liedtke brothers and their circle of investors and by Bush's father and uncle—Prescott Bush and Herbert Walker Bush—and his family circle of friends.
Hugh Liedtke was named president, Bush was vice president; Overbey soon left. In 1954, Zapata Off-Shore Company was formed as a subsidiary, with Bush as president. He raised some startup money from Eugene Meyer, publisher of the Washington Post, and his son-in-law, Phillip Graham.[2][3]
Zapata Off-Shore accepted an offer from an inventor, R. G. LeTourneau, for the development of a mobile but secure drilling rig. Zapata advanced him $400,000. The sum was to be refundable if the completed rig did not function. If it did function, LeTourneau would get an additional $550,000 together with 38,000 shares of Zapata Off-Shore common stock. Zapata split in 1959 into Zapata Petroleum headed by the Liedtkes and Zapata Off-Shore, headed by Bush, funded with $800,000.[4] Bush moved his offices and family that year from Midland, Texas to Houston. Zapata Petroleum merged in 1963 with South Penn Oil and other companies to become Pennzoil.
According to a biographer of George H. W. Bush, Zapata Off-Shore in the late 1950s and early 1960s concentrated its business in the Caribbean, the Gulf of Mexico, and the Central American coast.[5] The US government began to auction off mineral rights to these areas in 1954. Drilling contracts in 1958 with the seven large US oil producers included wells 40 miles north of Isabela, Cuba, near the island Cay Sal. Fidel Castro overthrew Cuba's Batista government in July 1959.
Zapata also won a contract with Kuwait. Bush was joined in Zapata by a fellow Yale Skull and Bones member, Robert Gow, in 1962. Zapata Off-Shore had four oil-drilling rigs operational by 1963: Scorpion (1956), Vinegaroon (1957), Sidewinder, and (in the Persian Gulf) Nola III.
By 1964, Zapata Off-Shore had a number of subsidiaries, including: Seacat-Zapata Offshore Company (Persian Gulf), Zapata de Mexico, Zapata International Corporation, Zapata Mining Corporation, Zavala Oil Company, Zapata Overseas Corporation, and a 41% share of Amata Gas Corporation.