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In a recent press release, Hilcorp also acknowledged the effort put forth by Chevron employees as well as the state and federal agencies that assisted in the regulatory approval process for making the sale successful.

Short-Term Focus

In the short term, Barnes said that the company will focus on continuing to develop and produce Cook Inlet resources in a safe and environmentally sound manner. “We’re currently working to establish good relationship with vendors, stakeholders, regulators and members of the communities in which we operate,” he said. “In the long-term, we will be reviewing every well and field and looking at ways to increase production and recovery and to create reliable gas producing operations.

not tomorrow), ownership (work like you own the company), alignment (when Hilcorp wins, we all win) and improvement (get better every day). “We know that this culture has driven us to the success we’ve achieved to date,” he said. These values also determine how the company treats its employees and the communities in which it operates. For example, when hired, each employee is given $2,500 to donate to a US-based 501(c)3 charitable organization of his or her choice. Each subsequent year, Hilcorp will match any employee contribution up to $2,000 annually. To date, in excess of $3 million has been given to charities through this program. Another example is the Hilcorp Future Leaders of America Scholarship Program, which gives $10,000 schol-

Looking to Another 50 Years

©The Valdez Museum and Historical Archive

“Our goal is to develop these assets to their full potential and to provide reliable energy to Southcentral Alaska, as well as to create value for our employees and the communities in which we’re operating.” John A. Barnes Senior Vice President, Exploration & Production Hilcorp Alaska LLC

“Our goal is to develop these assets to their full potential and to provide reliable energy to Southcentral Alaska, as well as to create value for our employees and the communities in which we’re operating,” he added. While the company’s short-term focus is on managing the assets in Cook Inlet, Hilcorp will also begin building an inventory of exploration and development opportunities for the future. “We will act on opportunities for growth if it complements our company culture and objectives,” said Barnes, adding that it was inappropriate to identify any investment plans at the current time.

Core Values

According to Barnes, every aspect of the business is determined through its five core values: integrity (do the right thing), urgency (act today,

arships to outstanding high school students in the communities where Hilcorp operates. Students can receive up to $2,500 per year, which is renewable on an annual basis. “We’ve recently expanded this program to include five schools on the Kenai Peninsula: Kenai Central High School, Soldotna High School, Skyview, Ninilchik School and Nikiski High School,” Barnes said. “Materials have gone out to these schools, and we will be awarding the first scholarships to graduating seniors this May.” Despite being a new entry into Alaska’s oil and gas industry, it looks like Hilcorp has big plans for doing business on the Last Frontier. “The main thing to know is that we’re happy to be here,” Barnes said. “We’re here to stay, grow and produce, because that is what makes our company successful.” q

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April - 2012 - Alaska Business Monthly  
April - 2012 - Alaska Business Monthly  

Alaska Business Monthly’s 2012 Corporate 100 annual special section begins on page 86. Top citizens of industry are highlighted in this annu...