Reuters seeks to open billionaire oilman's Oklahoma divorce trial

(Reuters) - Global news organization Reuters has asked an Oklahoma court to open courtroom proceedings to the public and unseal trial transcripts of the two-month-long divorce trial of billionaire oilman Harold Hamm and his wife, Sue Ann Hamm. Judge Howard Haralson has closed all but the first three days of a trial that started Aug. 4 in Oklahoma County Court and sealed most of the records in what could be one of the largest-ever divorce settlements. Haralson cited concerns that private business information that might be discussed in the divorce case would harm Hamm's company, publicly traded oil driller Continental Resources. "The total closure of the courtroom is wildly overbroad - and constitutionally impermissible," attorneys for Reuters said in the motion filed on Wednesday. The motion is scheduled to be heard on Oct. 30. Hamm's wealth is estimated at about $20 billion, the motion states, and the division of assets in the divorce case may affect his stake in Oklahoma City-based Continental Resources. Hamm, 68, founded Continental in 1967 and married Sue Ann Hamm, 58, a former lawyer for the company, in 1988, when it was a relatively small driller. She filed for divorce in 2012. Continental is the largest player in the booming Bakken Shale formation of North Dakota, and has reported reserves of more than 1 billion barrels. Under Oklahoma law, any accrual of wealth resulting from the work efforts of either spouse during the marriage is considered "marital wealth" and subject to division between the spouses, making his role at the helm of Continental a central issue. On September 24, Reuters detailed how Continental has been rewriting its corporate history in ways that play down Hamm’s role in the company’s accomplishments, part of a legal strategy that might help the CEO minimize any award to his wife. (http://reut.rs/1rjOv3C) "Continental Resources is one of the most important publicly traded companies in the U.S. oil industry," a Reuters spokesperson said in a statement. "The public has a right to know how its chief executive officer explains his role in the company's growth over the past two decades and whether, as a result of the Hamms' divorce, there may be a change in the shareholding structure of the company." Divorce proceedings are usually open. (Reporting by David Bailey in Minneapolis; editing by Gunna Dickson)