Early Life
Harold Glenn Hamm was born on December 11, 1945, in Lexington, Oklahoma, as the youngest of 13 children to cotton sharecroppers. Hamm began working at a gas station at age 16 to support his family. He later worked in an oil refinery. After graduating from Enid High School in 1964, Hamm embarked on his career in the oil industry.
Rise to Success
In 1967, Hamm founded Shelly Dean Oil Company, which later became Continental Resources. Hamm is credited with pioneering fracking of shale oil resources. He pioneered the development of the Bakken oil field in North Dakota and Montana using horizontal drilling and hydraulic fracturing. Continental Resources grew into a major oil producer, propelling Hamm to billionaire status.
Key Business Strategies
Hamm's key business strategy involved the innovative use of horizontal drilling and hydraulic fracturing (fracking) to extract oil from shale formations, particularly in the Bakken oil field. This approach significantly increased oil production and reduced the cost of drilling. The company's focus on technological advancements and strategic acquisitions has been critical to its success.
Philanthropy
Harold Hamm has made several multi-million dollar donations to education and diabetes research, including a $10 million donation to the Harold Hamm Diabetes Center at the University of Oklahoma and a $12 million gift to the University of Mary to establish the Hamm School of Engineering.
