Mr Hamm?s offer to pay ex-wife Sue Ann Arnall the full cash value of what he owes based on a November divorce ruling by an Oklahoma County judge was rejected, his lawyer, Michael Burrage, said.
Ms Arnall, a former Continental executive who was married to Mr Hamm for 26 years, contends that her award of around $1bn in cash and assets ? including a California ranch and an Oklahoma home, worth tens of millions more ? was inadequate and allowed Mr Hamm to keep the lion?s share of a fortune her lawyers valued as high as $18bn.
Mr Hamm had already paid his former wife more than $20m during the divorce proceedings.
Mr Hamm?s appeal contends that the $1bn award was too steep. He has lost billions tied to the value of his 68pc stake in Continental in recent months, which his legal team blames on the sharp fall in oil prices.
Brent crude has slumped to a new five-and-a-half-year low as leading ratings agency Moody?s warned that oil companies could be forced to slash spending by up to 40pc this year.
The benchmark crude contract fell to as low as $51.64 per barrel in early trading on Tuesday, while West Texas Intermediate oil traded in the US fell.
Source: Agencies
