Founded in 1989, Hilcorp is an American privately-held energy exploration and production company.[2][1] The company is headquartered in Texas,[3] with operations in nine different states.[4] It has 3200 employees world-wide, and 1500 in Alaska.[1]
The company was co-founded by Jeffery Hildebrand in 1989.[1] Hildebrand bought out his partner for sole ownership.[5] Hildebrand stepped down as CEO in 2018, promoting CEO Greg Lalicker to the position.[6] Luke Saugier is the senior vice-president of operations in Alaska.[1]
Hilcorp is the largest privately held oil company in the US, by volume.[5]
The company's strategy is to acquire declining facilities and get more production out of them.[7] In 2020, the company bought BP's assets in Prudhoe Bay, Alaska, for $5.6 billion.[8] About half of BP's employees in Alaska transitioned with the takeover.[9]Exxon transferred operations in Point Thompson to Hilcorp in 2021 though it maintains a 60% ownership of the facilities.[10]
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."[21]
References
^ abcde"Oil and Gas Exploration/Production". Alaska Business. No. Power List. 2024. p. 136. ISSN8756-4092.
