Billionaire oilman Harold Hamm can keep his controlling interest in Oklahoma City-based Continental Resources Inc. as part of any settlement of his ongoing divorce case, a judge has ruled.
Oklahoma District Court Judge Howard Haralson ruled Feb. 13 that Hamm’s nearly 125 million shares of Continental is considered “pre-marital” property. The stock is worth about about $15.4 billion, based on Tuesday’s closing price of $123.65.
The court has not yet decided, however, how to divide the value of the stock as it has grown over the course of the marriage. That decision, the judge wrote, “is reserved for further determination.”
Until then, Hamm is required to hold onto the stock and is prevented from selling or transferring it.
Attorneys for both Harold and Sue Ann Hamm did not return phone calls to The Oklahoman on Tuesday.
A Continental Resources spokeswoman said the divorce proceeding “has not and is not anticipated to have any impact or effect on the company’s business or operations.”
In a friend-of-the-court brief filed Feb. 18, Continental said it takes no position on the case, but that Sue Ann Hamm and her attorneys have demanded thousands of pages of documents and dozens of depositions “not toward effective trial preparation, but toward and obvious desire to delay trial.”