Hilcorp
 | |
| Type | Private |
|---|---|
| Industry | |
| Founded | 1989 in Texas |
| Founders | |
| Headquarters | , U.S. |
Area served | United States |
| Key people |
|
Number of employees | 3,400[1] (2025) |
| Website | hilcorp.com |
Hilcorp is a privately held American energy exploration and production company that was founded in 1989.[2][3] The company is headquartered in Houston, Texas,[4] with operations in nine different states.[1] It has 3,400 employees worldwide, including 1,500 in Alaska.[1][3][5]
History
[edit]The company was co-founded by Jeffery Hildebrand in 1989.[3] Hildebrand bought out his partner for sole ownership.[6] Hildebrand stepped down as CEO in 2018, promoting CEO Greg Lalicker to the position.[7] Luke Saugier is the senior vice-president of operations in Alaska.[3]
Hilcorp is the largest privately held oil company in the US, by volume.[6]
The company's strategy is to acquire declining facilities and get more production out of them, while also increasing efficiency in late life fields.[8] In 2020, the company bought BP's assets in Prudhoe Bay, Alaska, for $5.6 billion.[9] About half of BP's employees in Alaska transitioned with the takeover.[10] Exxon transferred operations in Point Thompson to Hilcorp in 2021 though it maintains a 60% ownership of the facilities.[11]
The company owns the largest share of the Trans-Alaska Pipeline System,[12] after purchasing BP's 49% stake in 2019.[13][14]
Hilcorp notably paid all of its employees a $100,000 bonus in 2015,[15] and paid a $75,000 bonus to every employee in 2021.[16]
Environmental impact
[edit]Hilcorp was named in a 2021 report by the Clean Air Task Force, an environmental non-government organization with offices in Massachusetts and the Netherlands,[17] which states that the company was emitting more than 140,000 metric tonnes of methane.[18] Hilcorp's focus is on extending the productive life of legacy (also known as late-life) assets, which are typically older and higher emitting.[19][20][21] However, by retrofitting the assets with modern technology such as low-bleed pneumatics and using other advanced techniques, Hilcorp claims that they have been able to reduce greenhouse gas (GHG) emissions on Alaska's North Slope by 36% and in the San Juan Basin by 58%[22] since acquiring the assets in 2016.[23]
The Pennsylvania Department of Environmental Protection claimed in 2017 that Hilcorp's fracking operations in the state caused a chain of earthquakes in the prior year.[24]
In April 2021, the Pipeline and Hazardous Materials Safety Administration ordered the company to repair and replace an under-sea section of the pipeline in the Cook Inlet.[25][26]
In October 2024, Hilcorp was subject to an enforcement action brought by the Department of Justice for widespread Clean Air Act violations across its New Mexico operations. The Department of Justice found that "Hilcorp’s actions resulted in thousands of tons of harmful methane and VOC emissions being released into the environment. Methane is a climate super pollutant and potent greenhouse gas that contributes to climate change, and VOCs adversely affect human health in multiple ways, including being involved in the formation of ground level ozone."[27]
References
[edit]- 1 2 3 "About Us". hilcorp.com. Retrieved February 27, 2023.
- ↑ "Our History". hilcorp.com. Retrieved February 27, 2023.
- 1 2 3 4 "Oil and Gas Exploration/Production". Alaska Business. No. Power List. 2024. p. 136. ISSN 8756-4092.
- ↑ "Fact Sheets". hilcorp.com. Retrieved February 27, 2023.
- ↑ Great Place To Work (September 26, 2025). "Hilcorp Energy Company". Great Place To Work. Retrieved September 26, 2025.
- 1 2 "Forbes Profile: Jeffery Hildebrand". forbes.com. February 27, 2023. Retrieved February 27, 2023.
- ↑ Blum, Jordan (February 20, 2018). "Billionaire founder of Hilcorp hands off CEO job". Houston Chronicle. Retrieved February 27, 2023.
- ↑ Blackmon, David (November 29, 2021). "How America's Biggest Privately Owned Oil Company Takes A Divergent Approach To The Energy Transition". forbes.com.
- ↑ Hanlon, Teagan (June 30, 2020). "Hilcorp quietly takes over BP's stakes in Prudhoe Bay and other Alaska oil fields". alaskapublic.org. Alaska Public Media. Retrieved February 27, 2023.
- ↑ Hanlon, Teagan (December 19, 2019). "About half of BP's Alaska employees have accepted a job with Hilcorp". alaskapublic.org. Alaska Public Media. Retrieved February 27, 2023.
- ↑ Ruskin, Liz. "Exxon transfers Point Thomson operations on Alaska's North Slope to Hilcorp". alaskapublic.org. Alaska Public Media.
- ↑ Hasemyer, David (November 22, 2021). "Concerns Linger Over a Secretive Texas Company That Owns the Largest Share of the Trans-Alaska Pipeline". insideclimatenews.org.
- ↑ DeMarban, Alex (August 27, 2019). "BP will sell all its Alaska assets to Hilcorp". Anchorage Daily News. Retrieved January 11, 2021.
- ↑ "State regulatory commission gives final approval for BP-Hilcorp deal". Alaska Public Media. December 16, 2020. Retrieved January 11, 2021.
- ↑ "Hilcorp Energy gives $100,000 bonus to all 1,381 employees". Fox News. May 3, 2016. Retrieved February 27, 2023.
- ↑ Wethe, David (December 10, 2021). "Hilcorp employees in line for $75,000 bonuses after meeting multi-year goals". worldoil.com.
- ↑ DeMarban, Alex (June 3, 2021). "Hilcorp is largest methane emitter in U.S. oil and gas industry, report shows, but its Alaska emissions are lower". Anchorage Daily News.
- ↑ "Benchmarking Methane and Other GHG Emissions of Oil & Natural Gas Production in the United States". Clean Air Task Force. June 1, 2021. p. 23. Retrieved February 27, 2023.
- ↑ Blackmon, David (November 29, 2021). "How America's Biggest Privately Owned Oil Company Takes A Divergent Approach To The Energy Transition". Forbes. Retrieved September 26, 2025.
- ↑ Adams-Heard, Rachel; Dottle, Rachael (April 15, 2021). "Selling Its Alaskan Oil Business Was a Green Win for BP—Not the Planet". Bloomberg. Retrieved September 26, 2025.
- ↑ Krane, Jim. "Why Fixing Methane Leaks From the Oil and Gas Industry Can be a Climate Game-changer – One That Pays for Itself". Baker Institute. Retrieved September 26, 2025.
- ↑ "San Juan Methane Reduction". Hilcorp. March 24, 2024. Retrieved September 26, 2025.
- ↑ "Environmental Stewardship". Hilcorp. February 7, 2024. Retrieved September 26, 2025.
- ↑ Cocklin, Jamison (February 17, 2017). "PA Links Hilcorp Fracking to 2016 Earthquakes; New Regulations Likely". naturalgasintel.com. Retrieved February 27, 2023.
- ↑ Poux, Sabine (April 8, 2021). "Hilcorp ordered to replace gas pipeline with history of leaks". alaskapublic.org. Alaska Public Media. Retrieved February 27, 2023.
- ↑ Mayberry, Alan K (April 20, 2021). "CPF No. 5-2021-019-CAO" (PDF). U.S. Department of Transportation Pipeline and Hazardous Materials Safety Administration. Retrieved February 27, 2023.
- ↑ "Natural Gas Producer Agrees to Settlement to Reduce Emissions in New Mexico". United States Department of Justice. October 17, 2024. Retrieved September 28, 2025.