Bloomberg Billionaires Index

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#127 Jeff Hildebrand $11.1B

Random fact: Mother, a pilot, died flying in the Angel Derby Air Race in 1974.

Overview

Hildebrand is the founder and owner of Hilcorp Energy, the largest closely held oil and gas producer in the U.S. The Houston-based company produced 65.9 million barrels of oil equivalent in 2016, slightly more than half as oil and the rest as natural gas, from operations in Texas, Louisiana, offshore Gulf of Mexico and Alaska.

As of June 23, 2018:
Last change +$621M (+5.9%)
YTD change +$2.89B (+35.3%)
Industry Energy
Biggest asset Hilcorp Energy
Citizenship United States
Age 58
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jeff Hildebrand's net worth of $11.1B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Hildebrand's fortune is derived from Hilcorp Energy. He is the sole owner of the company, according to company spokesperson Justin Furnace.

Hilcorp is the largest closely held oil and gas producer in the U.S., according to a July 2017 ranking in the Oil & Gas Financial Journal using data compiled by IHS Markit. The company produced 65.9 million barrels of oil and equivalents, slightly more than half as oil, the rest as natural gas, according to the publication.

The company is valued based on Hilcorp's 2016 production of oil and gas. Revenue is calculated by multiplying production against the 12-month average price of Nymex oil and Henry Hub as of the end of 2016, according to the Energy Information Agency. Hilcorp is then compared to the enterprise value-to-sales and enterprise value-to-Ebitda multiples of five publicly traded peer companies: Whiting Petroleum, Denbury Resources, QEP Resources, Newfield Exploration and Chesapeake Energy.

Through its Harvest Pipeline subsidiary, Hilcorp owns 240 miles of oil and gas pipelines, according to data from the Pipeline and Hazardous Materials Safety Administration. The pipelines are valued on the low-end of replacement costs for the five most common diameters of natural gas pipelines, as estimated by the Federal Energy Regulatory Commission for 2015 and reported by the Oil and Gas Journal on its website.

The value of Hildebrand's cash investments includes the sale of more than $3 billion in assets since 2010 to KKR and EPL Oil & Gas, less $2.4 billion that's been spent since 2003, which includes the buyout of a business partner and the purchase of energy assets in Alaska in 2014.

Justin Furnace, a spokesman for Hildebrand, said in 2012 the billionaire declined to comment on his net worth. Requests for comment since by phone and e-mail haven't been returned.

Biography

Birthdate: 1959
Family: Married, 3 children
Education: 1985, University of Texas at Austin/The, Master's Degree 1981, Geology, University of Texas at Austin/The, Bachelor's Degree

Born in Houston in 1959, Jeffery Hildebrand's father was a veterinarian who owned an animal hospital near the airport, according to the Houston Chronicle. His mother was a pilot, best known for winning the cross-country Powder Puff Derby before dying in a crash during the Angel Derby Air Race in 1974.

After attending the University of Texas at Austin as an undergraduate, Hildebrand received a masters degree in petroleum engineering at the college's Cockrell School in 1985. He worked as a petroleum geologist for Dan A. Hughes Co., American Energy Capital Corp. and Exxon Company U.S.A. before founding Hilcorp Energy in 1989. While much of the industry was struggling under the low oil prices of the late 1990s and early 2000s, Hilcorp expanded, often using debt to buy assets.

In recent years, Hildebrand has sold some of his Texas and Louisiana wells, and has raised $3.3 billion since 2010. In 2011, he purchased Cook Inlet wells from Chevron in his first foray into Alaskan exploration and production. Hilcorp was the largest closely held oil and gas producer in the U.S. in 2015, according to data compiled by IHS Herold and published in the Oil and Gas Finance Journal in 2016.

Hildebrand is married with three children. He focuses much of his charitable giving on related educational outreach programs.

Milestones
  • 1981 Graduates from University of Texas at Austin with a geology degree.
  • 1985 Receives masters degree in petroleum engineering.
  • 1988 Starts Hilcorp after employer, American Energy Capital, is sold.
  • 1990 Makes early acquisition with Anglo-Dutch Investment Co.
  • 2007 Sells a portion of Hilcorp's Louisiana fields for $135 million.
  • 2011 Hilcorp Resources sold to Marathon Oil. Hilcorp gets $2.37 billion.
  • 2012 Sells collection of Gulf of Mexico fields for $550 million.
  • 2013 Buys Texas oil and gas fields from Forest Oil for $325 million.