Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 298 Jeff Hildebrand $6.07B

Random fact: Owns the 203-acre High Mesa Ranch in Aspen.

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 about 317,000 barrels of oil equivalents per day in 2018. It has operations in Texas, Louisiana, New Mexico, and Alaska where it's the state's biggest gas supplier.

As of :
Last change +$36.8M ( +0.6%)
YTD change +$36.0M ( +0.6%)
Industry Energy
Biggest asset Hilcorp Energy
Citizenship United States
Age 60
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jeff Hildebrand's net worth of $6.07B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
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's the sole owner of the company, according to company spokesperson Justin Furnace.

Hilcorp produced about 317,000 barrels of oil equivalents per day in 2018, according to the company's website. The company is valued based on Hilcorp's 2018 production of oil and gas. Revenue is calculated by multiplying production against the 12-month average price of WTI cushing oil and Henry Hub gas as of the end of 2018. Hilcorp is then compared to the enterprise value-to-sales and enterprise value-to-Ebitda multiples of publicly traded peers.

Hilcorp also owns 983 miles of oil and gas pipelines, according to data from the Pipeline and Hazardous Materials Safety Administration, excluding a 2018 acquisition. The pipelines are valued using five year average replacement costs for 8-inch diameter natural gas pipelines, as estimated by the Federal Energy Regulatory Commission between 2012 and 2017 and reported by the Oil and Gas Journal, and the 2018 acquisition is valued at cost.

Hilcorp companies have $5.835 billion of debt outstanding as at June 2019, according to data on Bloomberg. This includes three revolving debt facilities totaling $3.1 billion which are assumed to be fully utilized. This debt is recorded as a separate liability.

The valuation was updated on June 7, 2019 to reflect the latest available information on the company's pipelines and production and this led to an increase in the calculation of about $1.5 billion.

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: 1/1/1959
Family: Married, 3 children
Education: University of Texas at Austin, University of Texas at Austin

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.