Jeffery Hildebrand received a bachelor's degree in Geology in 1981 and a master's degree in petroleum engineering in 1985, both from the University of Texas at Austin.
Hildebrand worked for the American Energy Capital Corporation, the Dan A. Hughes Company, and Exxon Company, until he founded Hilcorp Energy Company, an oil and gas exploration and production company. His company has been ranked on Fortune Magazine's 100 Best Companies to Work For list in 2013, 2014 and 2015. In December 2015, his company gave all 1,380 employees a $100,000 Christmas bonus.
In November 2017, HIldebrand donated $25 million to the Department of Petroleum and Geosystems Engineering at the University of Texas at Austin. In recognition, the university plans to name the department the Hildebrand Department of Petroleum and Geosystems Engineering.