Hilcorp Founder Sends $10,000 to Bernadette Wilson's Campaign

Jeffery Hildebrand, the founder and chairman of Hilcorp Energy, donated $10,000 to the campaign of Republican Bernadette Wilson. The contribution landed in the final days before voters head to the polls on Tuesday. It marks the first time the Texas-based oil and gas executive has given money to a candidate in the 2026 state elections.

Wilson has collected nearly $85,000 in contributions during the final week of the campaign. This sum trails the total raised by the race's only Democrat, Jonathan Kreiss-Tomkins, who has brought in more than $400,000 in the same period. Kreiss-Tomkins also leads in endorsements after finishing first in the August primary with 22.5% of the vote in a field of 17 candidates.

The other two Republican candidates, former Anchorage Mayor Dave Bronson and former Attorney General Treg Taylor, are raising far less. Bronson reported roughly $500 in new contributions, while Taylor reported none. The financial disparity contrasts with the shared policy stance of the three Republicans, who have all opposed changing Alaska's tax structure. That opposition includes resistance to applying the state corporate income tax to oil and gas companies.

Kreiss-Tomkins argues that new revenue measures are necessary to balance the state's structural deficit. He cites the state's dependence on fluctuating global oil prices. His position stands in contrast to the candidates backed by the oil industry, who warn that tax changes could impact production.

Hilcorp has long opposed closing what it calls the S-corp loophole, which exempts certain oil and gas entities from corporate income tax. A fiscal impact analysis from a 2025 bill estimated that imposing these taxes on Hilcorp would have netted the state $186 million in fiscal year 2026. The company argued that additional taxes could affect the feasibility of building the Alaska LNG project, a major natural gas pipeline initiative.

The tension over tax policy dominated three special legislative sessions this summer. Term-limited Governor Mike Dunleavy criticized the inclusion of corporate income tax provisions in those bills. Hilcorp said the tax could threaten oil and gas production in the Cook Inlet and Railbelt, regions facing natural gas shortages.

Other energy executives also made donations last week. Brendan Duval, CEO of the Glenfarne Group, gave $5,000 each to Wilson and Kreiss-Tomkins on the same day. Glenfarne is a partner in the Alaska LNG project and is currently seeking a final investment decision. Early voting is ongoing, with more than 90,000 Alaskans having already cast their ballots.