Despite the oil price scrapping new lows, Hilcorp Energy is handing all of its employees $100,000 bonuses this Christmas.
As reported by Forbes, Hilcorp, which is the largest privately owned oil and gas company in the US, awarded the mega payouts to all of its 1,400 staff members, after doubling its output to more than 150,000 barrels per day.
It’s the second time billionaire owner Jeffery Hildebrand has signed off on major cash windfalls.
Five years ago, Hilcorp employees were given the choice of $35,000 in cash or $50,000 towards a new car.
Why? Because the team again achieved the company’s goal of doubling output.
Hildebrand, who founded Hilcorp in 1989, is valued to be worth $5.9billion, according to Forbes.
He was a petroleum engineer with Exxon before setting up on his own.
One of the 56-year-old’s first big paydays came when he sold his $100million Eagle Ford investment to Marathon Oil for $1.8billion.
Hilcorp is ranked 20th in Fortune’s “Best Companies” list.
Hildebrand’s latest generous bonus scheme will total more than $100million.
Hilcorp receptionist, Amanda Thompson, told Fox 4 News in Houston: “It’s just a true gift, and I think myself, along with everyone, is not going to give less than 100 percent each day.”