Joshua's Feed
Apr 29, 2015

Oklahoma oilman Hamm ready to drop appeal of $1 billion divorce -filing

By Joshua Schneyer

(Reuters) – Oklahoma oil billionaire Harold Hamm on
Wednesday moved to drop his appeal of a $1 billion divorce
award to his ex-wife, a day after the court dismissed her bid to
re-open the case, according to a court filing.

Hamm’s decision to withdraw his counter-appeal of a bitterly
fought divorce after a lower court awarded his ex-wife Sue Ann
Arnall around $1 billion in January could end their dispute,
which has been ongoing since 2012 with billions at stake.

Apr 24, 2015

Chesapeake reaches $25 million Michigan settlement over leasing charges

By Brian Grow and Joshua Schneyer

(Reuters) – Chesapeake Energy Corp, the second largest U.S. natural gas producer, will create a $25 million compensation fund as part of a settlement on Friday of antitrust, fraud and racketeering charges brought by the state of Michigan, according to terms of the settlement reviewed by Reuters.

In addition to the compensation fund, Chesapeake agreed to plead no contest to one count each of attempted antitrust violation and false pretenses, both misdemeanors. Under terms of the agreement, the court will dismiss those charges after 11 months if Chesapeake adheres to the settlement terms. All other criminal charges will be dismissed by the state. Chesapeake did not admit to wrongdoing.

Apr 14, 2015

Major AEP investor settles Chesapeake trade secrets lawsuit

April 14 (Reuters) – Energy & Minerals Group (EMG), which
has invested billions in oil and gas ventures with former
Chesapeake Energy Corp Chief Executive Officer Aubrey
McClendon, has moved to extricate itself from a lawsuit filed by
Chesapeake alleging McClendon stole its trade secrets and used
them to build up his new businesses.

Houston-based EMG, a private investment firm led by John
Raymond, said on Tuesday it reached an agreement with Chesapeake
to remove American Energy-Utica (AEU) and unnamed investors from
the lawsuit Chesapeake filed in February against McClendon’s new
firm, American Energy Partners (AEP) and affiliates. American
Energy-Utica is an oil and gas venture controlled by EMG focused
on the Utica shale play.

Jan 14, 2015

Continental CEO Hamm pledges $2.6 bln in shares to secure personal loan

Jan 14 (Reuters) – Continental Resources Inc said
that Harold Hamm, its chief executive officer and majority
shareholder, has pledged about one-fourth of the company shares
he owns as collateral for a personal loan, according to a
regulatory filing.

The shares Hamm posted as collateral are worth $2.6 billion
and represent an 18.5 percent chunk in the Oklahoma-based
drilling giant, according to a Reuters calculation. Hamm could
be forced to offer more collateral for the loan if the value of
his company falls.

Jan 13, 2015

Oil tycoon’s ex-wife cashes $975 mln check, wants more

NEW YORK, Jan 12 (Reuters) – Sue Ann Arnall, the ex-wife of
Oklahoma oil magnate Harold Hamm, vowed on Monday to press on
with an appeal of her divorce case, even after she cashed a $975
million check from him.

In November, an Oklahoma court ordered the Continental
Resources Inc chief executive to pay his ex-wife about
$1 billion in cash and assets when the couple divorced after a
26-year marriage. The check for $975 million, which Arnall
cashed last week, represented the entire balance owed by Hamm,
according to the court’s decision.

Jan 9, 2015

Epic divorce of U.S. oil baron may end after ex-wife deposits check

NEW YORK, Jan 8 (Reuters) – Sue Ann Arnall, the ex-wife of
Oklahoma oil magnate Harold Hamm, has deposited a handwritten
$975 million divorce check, Hamm’s lawyer said on Thursday, in a
move that may end an epic divorce battle over a fortune worth
billions.

Arnall, 58, deposited the check after earlier this week
declining the payment and pledging to pursue her appeal of a
divorce ruling she viewed as unfair.

Jan 8, 2015

Oil man Harold Hamm’s ex-wife seeking to cash divorce check -source

NEW YORK, Jan 8 (Reuters) – Sue Ann Arnall, the ex-wife of
Oklahoma oil magnate Harold Hamm, is seeking to cash a $975
million handwritten divorce check just days after rejecting the
payment which was ordered by a court in November, a source
familiar with the matter said.

Earlier this week, Arnall’s lawyers had said she did not
want to accept the check for fear of hurting her appeal of a
divorce ruling she viewed as short changing her.

Jan 6, 2015

Harold Hamm offers $975 million divorce check; ex-wife rejects it

By Joshua Schneyer

(Reuters) – Harold Hamm, the chief executive of oil driller Continental Resources who is embroiled in a bitter divorce, offered to pay his former wife $974.8 million, but she rejected a hand-written check, lawyers for both sides said on Tuesday.

Hamm’s offer would have paid his ex-wife, Sue Ann Arnall, immediately the full cash value of what he owes based on a November divorce ruling by an Oklahoma County judge.

Dec 30, 2014

Exclusive: Oklahoma oilman appeals billion-dollar divorce judgment

OKLAHOMA CITY (Reuters) – Last month, when oil magnate Harold Hamm was ordered to pay his ex-wife $1 billion in their divorce, he called the ruling “fair and equitable,” publicly thanked the judge and said he was happy to have the case behind him.

Now, with his estimated $19 billion personal fortune having fallen by half amid a rout in oil prices, the chief executive of Continental Resources has changed his mind.

Dec 5, 2014

Oil magnate’s ex-wife slams $1 billion divorce ruling in appeal

By Joshua Schneyer

(Reuters) – The ex-wife of Oklahoma oil magnate Harold Hamm has appealed a November divorce ruling that awarded her $1 billion, citing 78 alleged errors and missteps that caused a judge to grossly undervalue her stake in one of America’s greatest oil fortunes.

Sue Ann Arnall’s appeal assails as “inappropriate” Judge Howard Haralson’s decision to allow lawyers for both her ex-husband and his oil company, Continental Resources, to “double team” her during an epic divorce trial.