Oil Baron's Ex Says $1bn Divorce Is Not Enough

The ex-wife of an oil magnate plans to appeal a divorce settlement that awarded her nearly $1bn (£640m).

Sue Ann Hamm felt short-changed by a ruling this week that awarded her cash and assets worth $995.4m after a 26-year-marriage with Oklahoma's Harold Hamm, the chairman and CEO of energy giant Continental Resources Inc (NYSE: CLR - news) .

One of her lawyers, Ron Barber, said Mrs Hamm believes the decision was "not equitable" and plans to appeal within a few weeks.

The divorce already ranks as one of the most expensive in history.

But the woman's award was a small fraction of what Mr Hamm was allowed to keep - around 94% of the estimated $18bn rise in his Continental (Xetra: 543900 - news) shares during the marriage.

The Hamms had no prenuptial agreement. During their marriage, Continental's value soared by around 400-fold.

A lawyer and economist, Mrs Hamm worked at Continental during stretches of the marriage, which began in 1988.

At one point, the ruling says, she was an executive in charge of Continental's crude marketing division. She left the company in 2008.

At other times she worked in the home, helping to raise the couple's two children.

"Sue Ann is disappointed in the outcome of this case. She dedicated 25 years as Harold's faithful partner in family and business," Mr Barber said.

Mr Hamm was directed to pay $322m to his ex-wife by the end of the year, with minimum payments of $7m each month starting in January to pay off the remaining balance.

As part of the settlement, Mrs Hamm was also awarded the couple's marital home in Nichols Hills, Oklahoma, as well as another home in the state and a mansion in Carmel Valley, California.

Harold Hamm was awarded a home in Branson, Missouri, along with a log cabin and 154 acres in Major County, Oklahoma.

A lawyer for Mr Hamm said after the settlement that the CEO considered it "fair and equitable".