John W. Mecom Sr.
John Whitfield Mecom Sr. | |
|---|---|
| Born | Template:Birth date |
| Died | October 12, 1981 (aged 70) |
| Occupation(s) | Independent oilman, businessman, racehorse owner |
| Known for | Purchasing neglected oil wells; developing oil fields in Louisiana and Saudi Arabia; co-founding Circle Bar Drilling Company |
John Whitfield Mecom Sr. (January 13, 1911 – October 12, 1981) was a prominent American independent oilman recognized for purchasing neglected oil wells and restoring their productivity. He played a significant role in developing oil fields in both Louisiana and Saudi Arabia, achieving status as one of the leading independent oil producers of his time. Although he declared bankruptcy in 1970, Mecom restructured his enterprise, the John W. Mecom Company, which he later managed alongside his son, John W. Mecom Jr., who formerly owned the New Orleans Saints NFL franchise.
On December 18, 1964, a C82 Packet aircraft registered to Mecom was downed by the Egyptian air force after failing to submit a flight plan and disregarding multiple landing requests, resulting in the deaths of the pilot and co-pilot. This event caused tension between the United States and Egypt. Mecom himself, a personal acquaintance and supporter of President Lyndon B. Johnson, was not on board; the plane was headed to acquire drilling detergent for his oil ventures.
In December 1965, Mecom made an ambitious but ultimately unsuccessful bid to acquire the Houston Chronicle, along with its premises, the Rice Hotel, and a 35% ownership in Texas Commerce National Bank from Houston Endowment Inc., backed by a $1 million initial payment. The deal was withdrawn due to inadequate financial resources.
Throughout the 1960s, Mecom collaborated with petroleum engineer Patrick F. Taylor, co-founding Circle Bar Drilling Company in 1974, which they sold five years later in 1979. Taylor went on to establish his own oil firm in New Orleans and gained recognition as a major educational philanthropist.
Mecom also ventured into Thoroughbred horse racing, owning horses like Narushua, which finished 11th in the 1965 Kentucky Derby, and Rushing Man, a stakes-winning gelding who placed 14th in the 1975 Derby.