From Wikipedia, the free encyclopedia
Hilcorp Company type
Private Industry Founded 1989; 35 years ago (1989 ) in
Texas Founders Headquarters , US
Area served
United States Key people
Jeffery Hildebrand Greg Lalicker(
CEO ) Website
hilcorp.com
Hilcorp is an American privately held energy exploration and production company. The company was founded in 1989.
[1] The company is headquartered in Texas,
[2] with operations in nine different states.
[3]
The company was co-founded by
Jeffery Hildebrand in 1989. Hildebrand bought out his partner for sole ownership.
[4] Hildebrand stepped down as CEO in 2018, promoting CEO Greg Lalicker to the position.
[5]
Hilcorp is the largest privately held oil company in the US, by volume.
[4]
The company's strategy is to acquire declining facilities and get more production out of them.
[6] In 2020, the company bought
BP 's assets in
Prudhoe Bay, Alaska , for $5.6 billion.
[7] About half of BP's employees in Alaska transitioned with the takeover.
[8]
Exxon transferred operations in Point Thompson to Hilcorp in 2021 though it maintains a 60% ownership of the facilities.
[9]
The company owns the largest share of the
Trans-Alaska Pipeline System ,
[10] after purchasing BP's 49% stake in 2019.
[11]
[12]
Hilcorp notably paid all of its employees a $100,000 bonus in 2016,
[13] and paid a $75,000 bonus to every employee in 2021.
[14]
Environmental impact
Hilcorp is the largest
methane emitter in the US oil and gas industry,
[15] emitting more than 140,000 metric tonnes of methane.
[16]
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.
[17]
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 .
[18]
[19]
References
^
"Our History" . hilcorp.com . Retrieved 2023-02-27 .
^
"Fact Sheets" . hilcorp.com . Retrieved 2023-02-27 .
^
"About Us" . hilcorp.com . Retrieved 2023-02-27 .
^
a
b
"Forbes Profile: Jeffery Hildebrand" . forbes.com . 2023-02-27. Retrieved 2023-02-27 .
^ Blum, Jordan (2018-02-20).
"Billionaire founder of Hilcorp hands off CEO job" .
Houston Chronicle . Retrieved 2023-02-27 .
^ Blackmon, David (2021-11-29).
"How America's Biggest Privately Owned Oil Company Takes A Divergent Approach To The Energy Transition" . forbes.com .
^ Hanlon, Teagan (2020-06-30).
"Hilcorp quietly takes over BP's stakes in Prudhoe Bay and other Alaska oil fields" . alaskapublic.org .
Alaska Public Media . Retrieved 2023-02-27 .
^ Hanlon, Teagan (2019-12-19).
"About half of BP's Alaska employees have accepted a job with Hilcorp" . alaskapublic.org .
Alaska Public Media . Retrieved 2023-02-27 .
^ Ruskin, Liz.
"Exxon transfers Point Thomson operations on Alaska's North Slope to Hilcorp" . alaskapublic.org .
Alaska Public Media .
^ Hasemyer, David (2021-11-22).
"Concerns Linger Over a Secretive Texas Company That Owns the Largest Share of the Trans-Alaska Pipeline" . insideclimatenews.org .
^ DeMarban, Alex (27 August 2019).
"BP will sell all its Alaska assets to Hilcorp" . Anchorage Daily News . Retrieved 11 January 2021 .
^
"State regulatory commission gives final approval for BP-Hilcorp deal" . Alaska Public Media . 16 December 2020. Retrieved 11 January 2021 .
^
"Hilcorp Energy gives $100,000 bonus to all 1,381 employees" .
Fox News . 2016-05-03. Retrieved 2023-02-27 .
^ Wethe, David (2021-12-10).
"Hilcorp employees in line for $75,000 bonuses after meeting multi-year goals" . worldoil.com .
^ DeMarban, Alex (2021-06-03).
"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 . 2021-06-01. p. 23. Retrieved 2023-02-27 .
^ Cocklin, Jamison (2017-02-17).
"PA Links Hilcorp Fracking to 2016 Earthquakes; New Regulations Likely" . naturalgasintel.com . Retrieved 2023-02-27 .
^ Poux, Sabine (2021-04-08).
"Hilcorp ordered to replace gas pipeline with history of leaks" . alaskapublic.org .
Alaska Public Media . Retrieved 2023-02-27 .
^ Mayberry, Alan K (2021-04-20).
"CPF No. 5-2021-019-CAO" (PDF) .
U.S. Department of Transportation Pipeline and Hazardous Materials Safety Administration . Retrieved 2023-02-27 .