A wildcatter is an oil prospector who drills in areas not known to produce oil, hoping to discover new sources of oil. The term has evolved to include those who invest time and money into ventures that may or may not be profitable, such as promoting unstable businesses or investing in tech startups. Wildcatting is often costly and dangerous, but vital to finding new opportunities in the oil industry. Wildcatters may also explore new drilling techniques or materials.
In the oil industry, a wildcatter is an oil prospector who drills wild wells. These wells are drilled in areas that are not close to other oil fields and in areas that are not known to produce oil. The reason for drilling such a well is the hope of discovering a new source of oil to extract from the earth. This can be a costly endeavor, especially considering wells that wildcatter drillers aren’t guaranteed to produce oil, but drilling companies often hire several wildcatters to find new areas in which to extract valuable crude oil.
The term has evolved to become applicable in the business world as well. A wildcatter can be a person who promotes unstable or ailing businesses or companies, especially by attempting to sell stock in such companies. Tech wildcards are companies that help new tech startups gain a solid business footing by investing time and money into the venture or by taking on some of the more complex tasks necessary for a successful business. Either way, the term goes back to its original application in its implication, as all of these types of wildcatters essentially invest their time, money, and effort into ventures that may or may not be profitable.
Originally, the term “wildcatter” applied only to oil companies and most often this professional worked independently as a contractor or freelancer for various companies. Others may instead be employed by an oil company, trying to find new drilling possibilities solely for the benefit of that company. The work could be dangerous, as it was and still may be difficult to reach remote areas, transport equipment, install it, dig a shaft for exploration and operate the new mine safely. For oil companies, wildcatting is often a costly project that may or may not pay off in the end, but it’s vital to finding new opportunities.
In some cases, the wild may even explore new drilling techniques or explore new materials. Instead of looking for a new source of oil, for example, the wildcatter can explore options in drilling for natural gas, thereby expanding the oil company’s portfolio to include an entirely new fuel source. This can also be costly and dangerous, and oil companies will often limit the risk they take on wild catching operations. An overly expensive deal that doesn’t pay off in the end could effectively end the oil company.
Protect your devices with Threat Protection by NordVPN
