Hilcorp

{{Short description|Oil and gas company}}

{{Use American English|date=February 2023}}

{{Infobox company

| name = Hilcorp

| logo =

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| type = Private

| industry = {{Unbulleted list|Oil and gas}}

| founded = {{Start date and age|1989}} in Texas

| founders = {{Unbulleted list|Jeffery Hildebrand}}

| hq_location_city = Houston, Texas

| hq_location_country = US

| area_served = United States

| key_people = {{Unbulleted list|Jeffery Hildebrand | Greg Lalicker(CEO)}}

| products =

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| num_employees = 3200

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| website = {{URL|https://www.hilcorp.com/|hilcorp.com}}

}}

Founded in 1989, Hilcorp is an American privately-held energy exploration and production company.{{cite web |url=https://www.hilcorp.com/about-us/our-history/ |title=Our History |accessdate=2023-02-27 |website=hilcorp.com}} The company is headquartered in Texas,{{cite web|url=https://www.hilcorp.com/about-us/fact-sheets/ |title=Fact Sheets |accessdate=2023-02-27 |website=hilcorp.com}} with operations in nine different states.{{cite web|url=https://www.hilcorp.com/about-us/|title=About Us |accessdate=2023-02-27 |website=hilcorp.com}} It has 3200 employees world-wide, and 1500 in Alaska.{{cite magazine |journal=Alaska Business |page=136 |title=Oil and Gas Exploration/Production |date=2024 |issn=8756-4092 |issue=Power List}}

The company was co-founded by Jeffery Hildebrand in 1989. Hildebrand bought out his partner for sole ownership. Hildebrand stepped down as CEO in 2018, promoting CEO Greg Lalicker to the position.{{cite web |title=Billionaire founder of Hilcorp hands off CEO job |url=https://www.houstonchronicle.com/business/energy/article/Hildebrand-steps-down-as-Hilcorp-CEO-12629007.php |date=2018-02-20 |work=Houston Chronicle |accessdate=2023-02-27 |first1=Jordan |last1=Blum}} Luke Saugier is the senior vice-president of operations in Alaska.

Hilcorp is the largest privately held oil company in the US, by volume.{{cite web |url=https://www.forbes.com/profile/jeffery-hildebrand/?sh=4833cb68333b |title=Forbes Profile: Jeffery Hildebrand |date=2023-02-27 |accessdate=2023-02-27 |website=forbes.com}}

The company's strategy is to acquire declining facilities and get more production out of them.{{cite web|url=https://www.forbes.com/sites/davidblackmon/2021/11/29/divergent-business-model-positions-hilcorp-to-navigate-the-energy-transition/?sh=799685ad71ab |website=forbes.com |title=How America’s Biggest Privately Owned Oil Company Takes A Divergent Approach To The Energy Transition |first1=David |last1=Blackmon |date=2021-11-29}} In 2020, the company bought BP's assets in Prudhoe Bay, Alaska, for $5.6 billion.{{cite web |title=Hilcorp quietly takes over BP’s stakes in Prudhoe Bay and other Alaska oil fields |url=https://alaskapublic.org/2020/06/30/hilcorp-to-quietly-take-over-bps-stakes-in-prudhoe-bay-and-other-oil-field-assets/ |date=2020-06-30 |accessdate=2023-02-27 |first1=Teagan |last1=Hanlon |website=alaskapublic.org |publisher=Alaska Public Media}} About half of BP's employees in Alaska transitioned with the takeover.{{cite web|url=https://alaskapublic.org/2019/12/19/about-half-of-bps-alaska-employees-have-accepted-a-job-with-hilcorp/ |title=About half of BP’s Alaska employees have accepted a job with Hilcorp |date=2019-12-19 |accessdate=2023-02-27 |first1=Teagan |last1=Hanlon |website=alaskapublic.org |publisher=Alaska Public Media}} Exxon transferred operations in Point Thompson to Hilcorp in 2021 though it maintains a 60% ownership of the facilities.{{cite web |url=https://alaskapublic.org/2021/10/22/exxon-transfers-point-thomson-operations-to-hilcorp/ |title=Exxon transfers Point Thomson operations on Alaska’s North Slope to Hilcorp |publisher=Alaska Public Media |website=alaskapublic.org |first1=Liz |last1=Ruskin}}

The company owns the largest share of the Trans-Alaska Pipeline System,{{cite web |url=https://insideclimatenews.org/news/22112021/hilcorp-trans-alaska-pipeline/ |title=Concerns Linger Over a Secretive Texas Company That Owns the Largest Share of the Trans-Alaska Pipeline |date=2021-11-22 |first1=David |last1=Hasemyer |website=insideclimatenews.org}} after purchasing BP's 49% stake in 2019.{{cite news |last1=DeMarban |first1=Alex |title=BP will sell all its Alaska assets to Hilcorp |url=https://www.adn.com/alaska-news/2019/08/27/bp-will-sell-all-its-alaska-assets-to-hilcorp/ |access-date=11 January 2021 |work=Anchorage Daily News |date=27 August 2019}}{{cite news |title=State regulatory commission gives final approval for BP-Hilcorp deal |url=https://www.alaskapublic.org/2020/12/15/state-regulatory-commission-gives-final-approval-for-bp-hilcorp-deal/ |access-date=11 January 2021 |work=Alaska Public Media |date=16 December 2020}}

Hilcorp notably paid all of its employees a $100,000 bonus in 2016,{{cite web |title=Hilcorp Energy gives $100,000 bonus to all 1,381 employees |url=https://www.foxnews.com/us/hilcorp-energy-gives-100000-bonus-to-all-1381-employees |work=Fox News |date=2016-05-03 |accessdate=2023-02-27}} and paid a $75,000 bonus to every employee in 2021.{{cite web |url=https://www.worldoil.com/news/2021/12/10/hilcorp-employees-in-line-for-75-000-bonuses-after-meeting-multi-year-goals |url-access=subscription |first1=David |last1=Wethe |date=2021-12-10 |website=worldoil.com |title=Hilcorp employees in line for $75,000 bonuses after meeting multi-year goals}}