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Nov 13, 2014

Exclusive: Ex-wife of U.S. oil baron to appeal $1 billion divorce award

By Joshua Schneyer

(Reuters) – Sue Ann Hamm, the ex-wife of Oklahoma oil magnate Harold Hamm who was awarded cash and assets worth more than $1 billion in the couple’s divorce this week, plans to appeal the judgment on grounds that it grossly undervalues the marital wealth she is entitled to.

Claiming she was shortchanged by a ruling that allows the Continental Resources (CLR.N: Quote, Profile, Research, Stock Buzz) chief executive officer to keep nearly all of an estimated $18 billion rise in his Continental shares during a 26-year marriage, Sue Ann Hamm plans to appeal the decision, Ron Barber, one of the attorneys on her legal team, told Reuters on Thursday.  

Nov 10, 2014

Continental CEO Harold Hamm ordered to pay $995 million in divorce

By Joshua Schneyer

(Reuters) – An Oklahoma County judge has ordered and Continental Resources (CLR.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Harold Hamm to pay nearly $1 billion in a divorce judgment, according to a court filing made public on Monday.

In one of the highest value divorce judgments in U.S. history, Special Judge Howard Haralson found that oil magnate Hamm should pay his ex-wife Sue Ann Hamm a total of $995.5 million.

Nov 5, 2014

Special Report: In oil baron’s divorce, company lawyer plays star role

OKLAHOMA CITY (Reuters) – During the divorce trial of oil baron Harold Hamm and wife Sue Ann, an unusual relationship took shape in the Oklahoma courtroom as the marriage was being dismantled.

From the bench, Special Judge Howard Haralson playfully tossed red and white peppermints to a lawyer sitting alone in the jury box who didn’t represent either of the Hamms in the case.

Nov 5, 2014

Long-ago land deal may loom large in Oklahoma divorce

OKLAHOMA CITY (Reuters) – Continental Resources has become a leading oil driller in North Dakota’s Bakken field, which has added more than 1 million barrels per day to U.S. oil output.

But SEC filings and court documents referenced in the divorce of Harold and Sue Ann Hamm show that years before Continental gained its foothold in the Bakken, a stake in the oilfield was acquired by a little-known company known as Jolette Oil. 

Nov 5, 2014

In oil baron’s divorce, company lawyer plays star role

OKLAHOMA CITY, Nov 5 (Reuters) – During the divorce trial of
oil baron Harold Hamm and wife Sue Ann, an unusual relationship
took shape in the Oklahoma courtroom as the marriage was being
dismantled.

From the bench, Special Judge Howard Haralson playfully
tossed red and white peppermints to a lawyer sitting alone in
the jury box who didn’t represent either of the Hamms in the
case.

Oct 13, 2014

Privately, Saudis tell oil market: get used to lower prices

LONDON/NEW YORK, Oct 13 (Reuters) – Saudi Arabia is quietly
telling the oil market it would be comfortable with much lower
oil prices for an extended period, a sharp shift in policy that
may be aimed at slowing the expansion of rival producers
including those in the U.S. shale patch.

Some OPEC members including Venezuela are clamouring for
production cuts to push oil prices back up above $100 a barrel.

Oct 13, 2014

Exclusive – Privately, Saudis tell oil market: get used to lower prices

LONDON/NEW YORK (Reuters) – Saudi Arabia is quietly telling oil market participants that Riyadh is comfortable with markedly lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.

Some OPEC members including Venezuela are clamoring for urgent production cuts to push global oil prices back up above $100 a barrel. But Saudi officials have telegraphed a different message in private meetings with oil market investors and analysts recently: the kingdom, OPEC’s largest producer, is ready to accept oil prices below $90 per barrel, and perhaps down to $80, for as long as a year or two, according to people who have been briefed on the recent conversations.

Sep 24, 2014

Exclusive: Oil company rewrites its history, may aid founder’s divorce case

OKLAHOMA CITY (Reuters) – Oil driller Continental Resources Inc has been revising its corporate history in ways that diminish the publicly traded company’s accomplishments under CEO Harold Hamm, part of a legal strategy that might help Hamm avoid the largest divorce award in U.S. history.

Downplaying his role in Continental’s success is central to Hamm’s chances of minimizing the financial blow from his divorce, lawyers say.

Sep 9, 2014

Chesapeake Energy to face racketeering charges in Michigan trial

By Joshua Schneyer

(Reuters) – Natural gas and oil producer Chesapeake Energy Corp (CHK.N: Quote, Profile, Research, Stock Buzz) must face trial on charges of felony racketeering and using false pretenses related to its land-leasing practices, a state judge has ruled.

Cheboygan District Court Judge Maria Barton ruled on Monday that Oklahoma-based Chesapeake go to trial on one charge of racketeering and 20 counts of using false pretenses to allegedly defraud private landowners in the state during an oil and gas leasing boom in 2010. Barton ruled after a hearing last month. No trial date has been set.

Aug 15, 2014

Exclusive – Wife defines stakes in Oklahoma divorce: $17 billion

OKLAHOMA CITY (Reuters) – More than $17 billion of Oklahoma oilman Harold Hamm’s fortune could be subject to division with his estranged wife, according to an economic analysis presented in their divorce trial, defining the stakes in one of the biggest battles ever over a marital estate.

The analysis of Kenneth Button, an expert witness hired by Sue Ann Hamm, was laid out in court testimony and in a document provided to Reuters by Oklahoma County Judge Howard Haralson. It is one of the first pieces of financial testimony to be released from the trial, which has been conducted mostly in secrecy.