In 1990, Zapata Offshore sold 12 of its drilling rigs to Arethusa Offshore, which a few years later merged with Diamond Offshore. Still struggling with debt by 1993, Zapata signed a deal with Norex America to raise more than $100 million through a loan and stock sale. .
HRG Group, Inc., formerly Harbinger Group Inc. and Zapata Corporation, was a based in , having originated from an company started by a group including future U.S. president .
By 1994, the company had come under Glazer's control, after a . Glazer became chairman of Zapata, replacing Ronald Lassiter, and. .
The company traced its origins to Zapata Petroleum Corporation, founded in 1953 by future U.S. President , along with his business partners John Overbey, .
Zapata sought to acquire a controlling interest in the in 1969, but was outbid by 's AMK Corp. Robert Gow's father, Ralph Gow, was on United.
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