Basic Information About Harold Hamm
|Category||Business › Billionaires|
|Date of birth||1945-12-11 (78 years old)|
|Place of birth||Lexington|
|Social Media||↗︎ Wikipedia|
Net Worth Details
Harold Hamm is an American oilman and businessman who has built an impressive empire in the oil and gas industry. With a net worth of $17 billion, he has at various times been the richest person in Oklahoma and one of the richest people in America. Hamm’s wealth can be attributed to his successful career in extracting tight oil resources in the Western and Southwestern United States.
What is Harold Hamm known for?
Harold Hamm is best known for his work as the founder and chairman of Continental Resources, an Oklahoma City-based natural gas and petroleum company. His company specializes in directional drilling and hydraulic fracturing, both of which are critical techniques in the extraction of oil and gas resources.
Early life and education
Harold Hamm was born on December 11, 1945, in Lexington, Oklahoma. He grew up as the 13th and youngest child of cotton sharecroppers Leland and Jane. His humble beginnings taught him the value of hard work and perseverance, which would later play a crucial role in his success as an entrepreneur.
Hamm’s entrepreneurial journey began at the age of 21 when he founded the Shelly Dean Oil Company, named after his two daughters. The company later grew into Continental Resources in 199 and made significant contributions to the oil industry.
Continental Resources achieved a major milestone when it discovered North Dakota’s Cedar Hills Field, one of the largest onshore fields in the US. The company became a pioneer in drilling techniques, utilizing directional drilling to access hard-to-reach oil and gas reserves. Continental Resources went on to lead the development of the Bakken Formation, a prolific rock unit across North Dakota and Montana.
In 2007, Continental Resources went public and experienced continued growth. The company made significant investments in innovation, including the development of a drilling technique using only one pad to drill four wells. It also strategically sold off certain assets, such as its North Dakota and Montana properties, for substantial profits.
In 2021, Continental Resources made headlines once again with its acquisition of leasehold and royalty acres in the Permian Basin. The deal, estimated at $3.25 billion, solidified the company’s position as a key player in the oil and gas industry.
Throughout his career, Harold Hamm has garnered numerous accolades for his business acumen and contributions to the energy sector. In 2007, he was named the Ernst and Young Entrepreneur of the Year. Two years later, he received the Energy Advocate of the Year award from the International Energy Policy Conference.
Recognizing his significant impact on the state of Oklahoma, Hamm was inducted into the Oklahoma Hall of Fame in 2011. He has also been honored with the Horatio Alger Award and Platts Global Energy’s Lifetime Achievement Award, further solidifying his reputation as a visionary leader in the industry.
Harold Hamm’s personal life has seen its fair share of ups and downs. He was previously married to Judith Ann and they have three children together. The couple divorced in 1987.
Harold Hamm later married Sue Ann Arnall, a lawyer and economist who also held executive positions at Continental Resources. Unfortunately, their marriage ended in divorce in 2014 after nearly 25 years. The highly publicized divorce proceedings made headlines as Sue Ann sought a settlement rumored to be worth billions of dollars, making it one of the most expensive divorces in history.
Despite the challenges in his personal life, Harold Hamm remains a dedicated businessman and philanthropist. He continues to reside in his home state of Oklahoma and is actively involved in various charitable endeavors.
Overall, Harold Hamm’s journey from humble beginnings to becoming one of the wealthiest individuals in America is a testament to his determination and entrepreneurial spirit. His contributions to the oil and gas industry have left an indelible mark, ensuring his enduring legacy as a successful businessman.