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]