Harold and Sue Ann Hamm wed in 1988 and had no prenuptial agreement
In an 80-page ruling following a more than 9-week divorce trial that ended last month, Oklahoma Special Judge Howard Haralson ruled that oil magnate Harold Hamm should pay his ex-wife a total of $995.5 million.
Although the award could make Sue Ann Hamm, 58, one of the 100 wealthiest women in the United States, according to Forbes‘ rankings, it is far smaller than the amount her lawyers sought and does not require Harold Hamm to sell shares of Continental.
Harold Hamm, 68, holds 68% of Continental, a stake worth nearly $14 billion.
The ruling is subject to appeal, but if accepted by both parties it would allow Continental’s CEO to put a contentious and time-consuming divorce behind him, without eroding his control of one of America’s most successful oil companies.
Following news of the judgment, Continental shares fell 1.6% to $54.22 per share. The shares have lost around 30% since July 1, in step with tumbling world oil prices.
Oklahoma-based Continental is a leading driller in the key Bakken Shale play of North Dakota and Montana, the largest US oil discovery in decades. Through his stake in Continental, Harold Hamm is believed to own more oil underground than any other American.
Harold and Sue Ann Hamm wed in 1988 and had no prenuptial agreement. For years, Sue Ann Hamm was also an executive at Continental.
The US House Ethics Committee has voted to release its report on former Republican Representative…
ABC News has agreed to pay $15 million to President-elect Donald Trump to settle a…
South Korea’s parliament has voted to impeach President Yoon Suk Yeol over his failed attempt…
Israeli war planes have carried out more than 100 air strikes in Syria on December…
President-elect Donald Trump has threatened to impose 100% tariffs on the BRICS countries if they…
Syrian troops have withdrawn from the city of Aleppo following an offensive by rebels opposed…
