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Oil baron’s divorce could prove to be very, very costly

You may not have heard of Harold Hamm, but he is a crucial figure in the oil industry. It is believed that Hamm owns the most oil in the ground than any American, and his drilling company, Continental, is worth $27 billion. Of course, when he first started the company nearly 50 years ago, Continental was worth a modest amount. It was valued at somewhere between $10 million and $50 million.

This is all very important information given that Hamm is in the middle of a divorce — and it appears that his estranged wife is on the brink of raking in a massive financial windfall in the divorce.

Of that $27 billion net worth, it appears that $17 billion is up for division in the divorce. Hamm’s fortune would be considerably lighter. Most of the divorce proceedings in the case have been sealed by the judge handling the case in order to protect sensitive financial information from the public.

However, some bits and pieces have been leaked, and it is why this story made it to light. Not much else is know about the divorce — such as whether a prenuptial agreement is involved in any way — but the financial figures alone are staggering enough.

This story serves as an obvious reminder that property division will always play role in divorce — but in a high asset divorce, the factors at play can be truly amazing. Those involved in a high asset divorce need experienced legal representation to help them through the split.

Source: Reuters, “Exclusive – Wife defines stakes in Oklahoma divorce: $17 billion,” Heide Brandes and Joshua Schneyer, Aug. 15, 2014

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