Founder of Hilcorp hands off CEO job
Jeffery Hildebrand, founder of the Houston oil company Hilcorp Energy, recently stepped down as chief executive of the company he started nearly 30 years ago, but he will remain in the executive chairman position.
Hildebrand, a prominent Houston billionaire, handed the day-to-day CEO reins over to Greg Lalicker, who previously served as chief operating officer. Lalicker joined the Hilcorp leadership team 12 years ago.
Hilcorp isn’t yet commenting on the changes except to confirm the transition. Hildebrand, who Forbes says is worth nearly $4 billion, rarely speaks publicly about his company, which is one of the nation’s largest privately owned oil and gas producers.
Hilcorp gained notice last year when it bought ConocoPhillips’ holdings New Mexico’s San Juan Basin for nearly $3 billion. The move was consistent with Hilcorp’s business of taking mature fields and squeezing out oil and gas that other companies may leave behind.
Hilcorp, which has oil and gas operations from Texas to Alaska, recently expanded into the new Hilcorp Tower building in downtown Houston.
Despite its efforts to keep a low profile, Hilcorp achieved viral fame when it was revealed that every Hilcorp employee received a one-time $100,000 bonus for helping the company boost its value. Hilcorp has a reputation as a place where people enjoy working.
Hildebrand is a University of Texas graduate with geology and petroleum engineering degrees. He serves as vice chairman of the University of Texas Board of Regents. He worked for Exxon Mobil Corp. and a few other companies,
founding Hilcorp in 1989 just a few years after earning his master’s degree.
Lalicker is a University of Tulsa petroleum engineering graduate who also holds advanced degrees in law and business.
He worked at Australia’s BHP Billiton and the consulting firm McKinsey & Co. before joining Hilcorp in 2006 as the executive vice president responsible for exploration and production activities.