Biglari is fond of calling Biglari Holdings a “museum of businesses.” But it’s clear he has a penchant for restaurants, insurance and oil and gas.Enigmatic investor Sardar Biglari snaps up troubled San Antonio-based driller Abraxas Petroleum
It marked the second oil and gas company acquisition for Biglari Holdings in about three years. In 2019, it bought Southern Oil, which has offshore operations in the shall waters of the Gulf of Mexico in Louisiana, for $51.5 million. “The essence of our success in the business lies not in finding oil but in finding and securing profitable opportunities,” he added. “In the annals of the oil business, our approach is unquestionably unconventional.”
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