Hilcorp Energy, which was started in 1989 by Houston-based billionaire Jeffrey Hildebrand, is setting its sights on expanding its presence in Alaska. The company is in the process of increasing its holdings through a pending acquisition of XTO Energy’s assets located at Cook Inlet in Alaska for an undisclosed amount.
Hilcorp is one of the largest privately held oil and natural gas exploration and production companies in the United States, according to a profile listed on the company’s website. Hilcorp has over 1,350 employees in multiple operating areas, including the Gulf Coast of Texas and Louisiana, the Northeast United States, and Alaska’s Cook Inlet and North Slope. In the last five years, Hilltop has completed over $3.8 billion of oil and gas property acquisitions; invested more than $3.8 billion in development capital on its properties; and greatly increased the company’s reserves and production. Chairman and CEO Hildebrand’s net worth was estimated in 2015 to be approximately $4.3 billion, according to Forbes.
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