IPA: /ˈwaɪlˌkætər/
KK: /ˈwaɪlˌkætər/
A person who engages in risky or speculative activities, especially in drilling for oil or mining in areas that are not proven to be productive.
The wildcatter took a chance on drilling in an untested area, hoping to strike oil.
Wildcatter → The word is formed from "wild" (from Old English *wild*, meaning untamed or uncontrolled) and "catter" (from the verb "to cater", which in this context refers to someone who seeks or pursues). A wildcatter is someone who seeks untamed or unproven oil or gas reserves, often in risky ventures.
Think of someone who is 'seeking' ('catter') resources in 'untamed' ('wild') areas — that's what a wildcatter does.
No commonly confused words.