Farm & Ranch
LARGEST ONE-OF-A-KIND RANCH IN NORTH AMERICA GAINS STRONG INTERNATIONAL INTEREST WHILE YET TO “OFFICIALLY” HIT MARKETPLACE
Listing brokers report early international interest in the 800-square mile
Texas ranch and oil estate of famed oil & cattle baron legend W.T. Waggoner
VERNON, TEXAS, OCTOBER 7, 2014 – It’s a Texas-sized story that Hollywood could never write, yet this story is destined for the history books. The iconic Waggoner Ranch will be sold.
The seller’s brokers, who will likely “officially” go to the open market in the next 30 to 45 days, report an early surge of interest from potential buyers and brokers worldwide seeking to register interest in the ranch.
“The initial momentum of interest in the Waggoner Ranch has even surpassed my expectations,” said Robbie Briggs, President and CEO of Briggs Freeman Sotheby’s International Realty. “So of course, the response is only a reflection of the magnitude the Waggoner property truly represents.”
“The news of our assignment was picked up by the Associated Press and went viral,” said Bernard Uechtritz of Briggs Freeman Sotheby’s International Realty in Dallas, one of the two exclusive agents representing the sale of the W.T. Waggoner Ranch. “The resulting interest and inquiries from a broad spectrum of qualified buyers has been extremely strong, even overwhelming, as we have tried to focus on the tasks of preparing the property, data, and documentation to actually get on the market.”
Founded in 1849, the legendary W.T. Waggoner Ranch was approved to be liquidated August 6, 2014, by Texas 46th District Court Judge Dan Mike Bird.
This iconic property consists of 510,000 contiguous acres encompassing an historic empire of vast, rich oil fields, open ranges, fertile farming and endless miles of grazing land, along with herds of thousands of cattle as well as enormous lakes, hundreds of foundation-bred, award-winning American quarter horses — all spread across six counties of west Texas prairie and sweeping rangeland. For the first time in its expansive history, the W.T. Waggoner Ranch will be offered to the open market for sale internationally.
The receiver for the W.T. Waggoner Estate, Michael Baskerville, approved the shareholder plan presented to the court. Key to this plan was the appointment of Uechtritz of Briggs Freeman Sotheby’s International Realty and co-broker Sam Middleton of Chas. S. Middleton & Son in Lubbock, Texas as the exclusive agents representing the sale of the ranch and estate assets, offering the ranch to state, national and international interest.
“Briggs Freeman Sotheby’s International Realty is pleased to provide the strategic marketing, and regional, national and international reach to take the W.T. Waggoner Estate across Texas and to the four corners of the world,” said Briggs.
The W.T. Waggoner Ranch is the largest ranch in the United States whose operations exist ‘under one fence.’ There is no other property available on the market anywhere that rivals the Waggoner Ranch’s prestige, its family’s place in history, or its infrastructure. Most likely, an opportunity like this will never be seen again in our lifetime.
Given the most recent interest in the property, Baskerville has set a guideline price for the Waggoner Ranch at $725 million. “The market will soon tell us if we are $3 million too high or $300 million too low,” said Uechtritz. “Right now, the level of response is telling us that this will not be a drawn-out process.”
The listing announcement by Baskerville was supported by a consensus of the shareholders, heirs and families of the estate.
Since this property has never before been sold, no title report or even a complete survey existed for the Waggoner Ranch until this year in anticipation of the sale.
One of the primary assets of the ranch are the mineral rights. Currently, 1,200 wells produce an approximate monthly gross of 41,000 barrels a month for the entire estate. The sale of the Waggoner Ranch will include approximately 42% of these rights, along with a multitude of other assets. Incredibly, some 400,000 acres of the ranch remains unexplored and undeveloped with regard to oil exploration.
“To a buyer,” said Middleton, “there are potentially significant tax benefits in addition to land appreciation and development. Given the opportunities for further oil exploration, green energy, prime farming and grazing land, existing cattle and horse operations, and with an already established infrastructure that includes dams and thousands of miles of fencing and roads, the buyer will potentially get an incredible tax write-off through accelerated depreciation of the vast assets included with the land.”
The Waggoner Ranch is also home to a wide variety of wildlife. “This ranch has not been commercially hunted in 165 years of its ownership. There are outstanding Boone and Crockett quality bucks on the ranch that have never heard a rifle shot,” said Middleton.
What stands as perhaps the most critical component of this sale for the brokers is finding the perfect buyer for the Waggoner Ranch. “This is literally a once in a lifetime opportunity to own such a Texas treasure. The Waggoner Ranch has such significant value, but it’s more than just a large piece of property. The ranch serves so many purposes: multiple integrated businesses, the community, the people… it’s a part of not only Texas history, but an integral part of the history of the cowboy and the American West,” said Uechtritz. “The perfect buyer, we believe, and the family believes, is someone who understands the big picture of the Waggoner Ranch, and that its preservation is critical to its continued prosperity, legacy and value to society. For either an individual or a corporate entity, the acquisition of the ranch offers profitability, diversity and development with the added opportunity to be a civic giant who will benefit from immeasurable culture and community alliance by preserving an icon.”
“I am very pleased with the selection of Bernie Uechtritz and Sam Middleton – to be on the front lines of this herculean assignment,” added Baskerville. “I am confident that Bernie and Sam will find the ranch its perfect buyer.”
For Uechtritz, the W.T. Waggoner Ranch is a symbol of America’s past whose preservation is vital to this country’s future. “Speaking personally,” said Uechtritz, “I am certainly hoping we engage a true patriot or entity who cares less about ‘what price,’ and who will step forward to protect, preserve and enhance this American icon and the cowboy way of life for another 200 years. If someone is willing to pay $2 billion for a basketball team, what does this make half a million prime Texas acres worth? From a brand perspective, no other ranch will ever be the Waggoner. There will only ever be one Waggoner. A ranch that is producing food, energy, is home to some of the best cattle and best bloodlines of horseflesh in the world, and whose generations of employees are the finest example of the backbone of our society. People whose fortitude, values and ethos exemplify what great nations were built on.”
About the W.T. Waggoner Ranch
Founded by Dan Waggoner in 1849, his son, famed cattle baron W.T. Waggoner, continued expanding the ranch to the 510,000 acres that will soon be offered to the international marketplace. Owned exclusively by the Waggoner family, this is the first time the 800-square mile estate has ever been listed for sale. The W.T. Waggoner Ranch is the largest contiguous ranch in the United States, and along with King Ranch and the 6666 (Four Sixes) Ranch, is known throughout the world and revered in Texas as one of the “Big Three.” Nearly the size of Rhode Island, the ranch encompasses six North Texas counties, offering two main compounds, dozens of additional homes, 20 cowboy camps, enormous lakes, hundreds of award-winning quarter horses, thousands of heads of cattle, 1,200 oil wells, and 30,000 acres of cultivated farm land.
About Michael Baskerville
Michael (Mike) S. Baskerville is a Vernon, Texas attorney and Vernon native. He was appointed as Receiver by District Judge Dan Mike Bird in 2011.
About Briggs Freeman Sotheby’s International Realty
Briggs Freeman Sotheby’s International Realty is the oldest privately held real estate boutique in Dallas. With six offices in Dallas, Lakewood, Uptown, Ranch and Land, The Ballpark and Southlake, and more than 250 associates, the firm specializes in significant properties, from historic to contemporary, ranch to waterfront. The company’s deep-rooted connections, cutting-edge marketing and global strategies bring the extraordinary to all clients. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty. For more information, visit http://www.briggsfreeman.com.
About Bernard (Bernie) Uechtritz
International Real Estate Adviser Bernard Uechtritz has a 20-year proven track record of selling and advising on complex, unique and luxury real estate as well as iconic ranches throughout the United States. Since 1995, he has managed and sold real estate for a broad range of clients, institutions, and private wealth management entities. Born in Papua, New Guinea to a pioneering ranch family, Mr. Uechtritz has the ‘cowboy tradition’ in his blood. In a career made on the impossible, Mr. Uechtritz pursued his passion for real estate and ranches stateside, consulting as an international marketing expert and strategic real estate specialist for some of the world’s biggest and most unique properties. Mr. Uechtritz is a father, cattle rancher and competitive horseman.
About Chas. S. Middleton and Son
Sam Middleton is the owner of the renowned West Texas real estate and appraisal firm, Chas. S. Middleton and Son, established by his grandfather in 1920. The business consists of farm and ranch appraisals and farm and ranch sales. Sam holds Real Estate Broker licenses in Texas, New Mexico, Oklahoma, Kansas and Colorado. Mr. Middleton holds the designation of ARA (Accredited Rural Appraiser) through the American Society of Farm Managers and Rural Appraisers, and is a certified appraiser for the states of Texas, New Mexico and Colorado. He has sold numerous expansive ranches throughout the western states of Texas, Colorado, New Mexico and Kansas over the course of several decades. Mr. Middleton lives near Lubbock, Texas and is also a cattle rancher. For more information, visit http://www.chassmiddleton.com.
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
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Farm & Ranch
Sideoats Grama
In 2015, we introduced this “Grazing North Texas” series by highlighting one of our most important forage plants, Sideoats grama. On this 11th anniversary, we will take a closer look at this unique and valuable species.
Every Texan should be aware that Sideoats grama is the Texas State Grass. It was recommended for this honor in 1971 by the Texas Council of Chapters of the Soil Conservation Society of America and the Texas Section of the American Society of Range Management, and was officially adopted by Senate Concurrent Resolution 31 in 1971.
Resolution 31 states, in part, that “Although there are many desirable forage species native to the State, one variety, Sideoats grama, occurs on a greater diversity of soils than any other grass; on rangelands of West Texas it is the backbone of the ranching industry.”
Sideoats grama is a deeply rooted summer perennial bunchgrass. It is a mid-grass in height, reaching from 8 inches to 36 inches, depending upon variety and growing conditions. As a mid-grass, it does not produce the total pounds of forage that the tall grasses produce, but the quality of the forage is very good.
Sideoats grama produces high quality, nutritious forage that is relished by all classes of livestock. Crude protein can reach 11 percent in spring green up, decrease to 5 to 8 percent during summer months, and maintain a very respectable 3.5 to 4.5 percent protein after frost, making it one of our most important forage species.
Sideoats has rather wide leaves that take on a characteristic color and curl as the plant matures. The seed head is a zigzag stalk containing small spikes dangling from one side, thus the name Sideoats. Depending upon variety, Sideoats can spread by seed and by small stout rhizomes. It is often found in colonies.
Sideoats is most at home in the mid-grass prairie section of the Great Plains that receives 12 to 20 inches of annual rainfall, but can be found in all areas of Texas (except the far eastern counties), and is adapted to most of the central and western US. It blends well with other native summer grasses such as Little bluestem, Indiangrass, and many mid and short species. It is the most productive of the grama family.
Being adapted to almost all soil types, it has the widest range of soil adaptation of almost all summer perennial grasses. But the best stands are found on medium to fine textured upland sites. It is also better adapted to calcareous and moderately alkaline soils than to neutral or acidic soils.
Sideoats grama can serve many uses, but the best use is as high quality nutritious forage for all classes of livestock. It is also recommended as part of a planting mix for earth fill and bank stabilization, and for establishing grass on critical areas. It was noted in 1944 that it was one of the important grasses remaining in large areas that were affected by the drought of the 1930s, and played an important role in reclaiming those damaged acres. Successful stands can be obtained on rocky and shallow soils.
Sideoats provides some forage for antelope and deer when actively growing. Elk use it for forage throughout the year, and wild turkey consume some seed.
Several varieties have been bred and produced over the years. One of the early varieties was ‘El Reno’ Sideoats grama, bred and released in Kansas in 1944. Another variety, Haskell, was released in 1983 by the James E. (Bud) Smith Plant Materials Center in Texas. Haskell is still widely used in plantings today.
Farm & Ranch
Raising Chicks
By Landon Moore
If you keep or are interested in keeping poultry, you will have the desire to raise young birds at some point. If you order chicks, or decide to incubate and hatch eggs, it will be necessary to learn how to brood the resulting hatchlings. While this will vary in specifics between species, the basic rules remain the same. In this article, the word “chicks” will be used, but the general information following also applies to goslings, ducklings, keets, poults, etc.
Brooding poultry is caring for the chicks during the period when they are growing their first feathers. Chicks hatch with a thin coat of down that leaves them susceptible to chilling. The mother keeps them warm by continuing to sit on the young for the first weeks after hatching. If you plan to hatch your own flock’s eggs you may wonder why you should bother to do it artificially, especially if you have broody birds. The answer is that modern incubators are much more likely to result in live chicks, can incubate far more eggs and keep the extremely vulnerable hatchlings safe as they emerge, especially from ants. Of course if you are purchasing chicks, brooding is your only option.
Before your eggs hatch or the chicks arrive, you will want to have the brooder set up, and ready to go. The first issue to decide is location. You will want a covered and secured place to set up the brooder. Be sure it has plenty of air flow; as anyone who has spent any time with birds can attest, fowl of any age produce an unpleasant smell without adequate ventilation. A barn or other outbuilding could work, but be sure it is well secured. A cat, raccoon or other predator could easily kill your chicks if they get the opportunity. A garage is a great option, offering protection and close access to water and electricity. If it lacks windows you will need to open the garage door a few times per day for ventilation. Inside the house is another option (such as in a disused bathroom) especially for very small poultry. This may seem ideal, offering complete protection, easy temperature regulation, water and electrify, but there are drawbacks. Aside from smell, chicks are unbelievably messy and will require extensive and daily cleaning if the room is to remain in even slightly good condition.
The next choice is what the brooder box will be. You can purchase large metal brooders built for hundreds of chicks or expensive tiered systems on rollers. However the best option is usually a plain, heavy-duty plastic storage box. Cheap, easy to move, simple to clean and sanitize, these are the most versatile and efficient option.
The chicks will require (in addition to shelter) heat, bedding, feed and water. The heat will come in the form of a small heat lamp or even a very strong and hot light bulb suspended above one end of the brooder box. Be sure it is securely prevented from falling into bedding or you could end up with a fire. You can make a metal screen to place over the box which protects them from predators in addition to falling lamps. Place a thermometer at the surface of the bedding before adding the chicks and adjust the heat lamp until the thermometer measures 95 degrees. You will reduce this by 5 degrees each week until their feathers have grown out. Even if the weather reaches or exceeds this temperature a lamp will be needed at night.
You may be intimidated by charts showing the exact temperature requirements of various poultry species and wonder how you can possibly keep the heat exactly right during daily temperature shifts. You do not need to be overly worried about this. Why? Because the chicks will tell you if they are comfortable through their behavior. After placing them in the brooder simply watch them for a few minutes. Do they crowd underneath the heat, piling on each other to conserve heat? Lower the bulb a bit. Are they straining against the opposite wall and cheeping in stress? Move it further away. Are they fairly evenly spread out, some exploring their new environment and some sleeping under the heat? Perfect. This is why the heat should be placed over one end of the brooder. If it is over the entire box you will have no way of knowing if your chicks are over-warmed.
The next issue is bedding. When the chicks are first placed in the brooder the bedding should be a layer of paper towels or (non-slick) newspaper. This even surface provides good traction for the birds preventing splayed legs and also prevents them from getting stuck somewhere and dying or else ingesting bedding before they learn what feed is and dying. It is always good to keep in mind that chicks of all kinds are morbid little things that will jump at the first opportunity for death in their initial couple weeks of life. It is up to you to deny them the opportunity until their self-preservation instinct kicks in. Chicks mature shockingly fast and in just a couple of days the bedding may be exchanged for pine shavings. You may still want a layer of paper at the bottom to make cleaning easier. You do not want to disturb the chicks without necessity, so you can add a fresh layer of shavings a couple of times as needed before you completely clean the box.
Commercial chick feed is available that is meant to be suitable for all species. For game birds, guineas and turkeys it’s often better to just use an adult gamebird crumble feed as their protein requirements are extremely high. For waterfowl, be sure the feed has enough niacin if it isn’t specifically formulated for them. If it does not have enough, you can sprinkle some brewer’s yeast over the top. Medicated feed is usually formulated for chicks specifically and may not be safe for other species (especially for waterfowl), so be sure to check before feeding. Chicks aren’t especially bright and may not be able to figure out how to operate the feeder at first. You can help them by placing a small pile of their feed on a paper plate (or paper towel for quail) where they can see it more easily.
For waterers, their basically two main types; open waterers and bottles. The bottles can be complicated with multiple pieces and nipples to drink from or simply a two piece plastic quart jar and base that screw together. The open waterers will usually be a miniature trough with a hinged or sliding lid that allows the chicks to stick their heads in without falling into the waterer and drowning. Generally the bottle type waterers will stay cleaner and hold more, but for waterfowl open waterers are preferred so they may submerge their bills for cleaning. Quail should be given bottles with special quail bases which are very small to prevent drowning. It can be extremely beneficial to dissolve a couple tablespoons of sugar (or commercially-made chick electrolytes) into the water for the first few days, especially if the chicks came by mail. Provide chicks with warm water the first few days (use your inner wrist to determine a suitable temperature, as you would milk for a bottle) to prevent chilling them. Be sure to carefully dunk each chick’s beak into the water when they are placed in the brooder so they learn what it is.
Chicks are most fragile for the first three days and should be handled as little as possible. When shipped, they will arrive stressed and possible chilled and care during this period is the most crucial. For the first three days after hatching, chicks are still absorbing their egg yolk and will not require outside nutrition and therefore may eat sparingly. It is best practice to sanitize the feeders and waterers regularly, but be aware that all birds will leave manure in their water. Don’t let the water remain filthy, but don’t expect it to remain sterile, either. Likewise, a stinking bog will not yield thriving poultry, but it is unnecessary to fanatically clean the brooder constantly. When the chicks are fully feathered will vary by species (three weeks for quail, six weeks for chickens), but once this happens it will be time for your young feathered friends to graduate to their new pens.
Farm & Ranch
Grazing North Texas – American Lotus
Farmers and ranchers are in a very close partnership with Mother Nature. If we really pay attention, she presents us some interesting scenarios.
For example, though they are totally different types of plants, water lilies and prickly pear have a lot in common. They both have strikingly beautiful flowers, both plants are edible, both of them are invaders into their respective habitats, and too much of either one can be an obstacle that we have to deal with.
Many north Texas ranches rely on excavated ponds for livestock water. Any time a pond contains a significant amount of shallow water so that sunlight reaches the bottom, some type of pond weed will develop. The plant family that includes water lilies and lotuses is a common invader in our livestock water.
Water lilies and lotuses are in the same plant family but they are two separate genera. There are easy ways to tell them apart:
• A primary difference is that water lily leaves commonly float on the surface, but lotus leaves can grow above the water line.
• Water lily leaves and flowers are thick and waxy, while lotus leaves and flowers are thin and papery.
• Water lily leaves have a distinct notch in the leaf, while lotus leaves are more rounded.
• Water lily flower petals are pointed, and lotus petals are more rounded.
The photos attached to this writing are from Clay County, and this plant is common across north Texas. American lotus is adapted to a wide area, from Honduras north through Mexico and across the eastern US and into Canada.
American lotus is a perennial, and it is cold tolerant and heat tolerant. It can grow in any pond or slow moving stream that contains shallow water areas. It prefers water with a depth of about 12 inches. Germination can occur from the large lotus seeds. Tubers, or roots, are established in the mud, and long slender stems extend upward. Leaves and flowers are both emergent in that they grow above the water line.
Lotus flowers are fragrant, and yellowish white with rich gold centers. They open in the morning and close by late afternoon, then open again the next day.
Lotus is an edible plant and has a history as a food source. The large tuberous roots, the size of a human arm, were baked like sweet potatoes. The leaves were eaten like spinach, and the large seeds were ground into flour. Stems taste somewhat like beets and were usually peeled before being eaten.
There is a large world-wide industry of cultivating lilies and lotuses in water gardens. According to Dr. Jerry Parsons, Professor and Extension Horticulturist with Texas A&M AgriLife Extension, cultivation of these plants dates back as early as ancient Egypt. Today, anyone with determination and a little money can have a water garden.
In 2011, the 82nd Texas Legislature designated the water lily “Texas Dawn” as the official Texas State Water Lily. Texas Dawn is a hybrid developed by Texas resident Kenneth Landon, a world-renowned expert in the field of water lilies and the director of the International Water Lily collection in San Angelo.
Ducks and other wildlife utilize the large acorn like seeds of American lotus, and submerged portions of all aquatic plants provide some form of wetland habitat. Many of us have tried to pull a bass out of a group of water lilies or lotuses, and I’m sure others have had better luck than I did. Although there can certainly be benefits to lilies, lotuses, and other aquatic plants, they can also infest ponds to the extent that the pond is not functioning correctly.
So, while the rest of the world works hard to grow these plants, ranchers sometimes need to control populations in their stock ponds. Once it gets a foot hold, American lotus can spread aggressively in wetland areas.
The primary issue that encourages American lotus, and most other water weeds, is shallow water. Look closely at a good livestock pond and you will find that the deeper water is basically free of infestation. Any pond will have a certain amount of shallow water that encourages water weed growth, depending upon the terrain at the pond site and how the pond was constructed. Some ranchers who enjoy and utilize wetland habitat may prefer to have ponds with significant shallow water area.
Almost all livestock ponds have a certain life expectancy. Siltation, or movement of soil into the pond bottom through rainfall runoff, is a natural occurrence. How fast siltation occurs into each pond, and how deep the pond was to start with, determines the length of time that the pond will contain adequate depth for dependable water for livestock.
Ponds that develop infestations of water weeds over a large percent of the surface may not have adequate depth to remain a viable water source for livestock during drought periods, especially in western north Texas where evaporation rates are higher.
Mud, or silt, from the pond bottom, can be removed to deepen the water, but this is a very expensive process. It is often more economical to construct a new pond rather than try to remove the silt from an old one. Most of us do not have the funds to continually construct deep water livestock ponds, so we must try to keep existing structures functioning and providing good drinking water for livestock, for as long as we can. Control of pond weeds like American lotus may be necessary, and it can be accomplished.
There is currently no feasible biological control. American lotus can be cut and removed, but this process us usually temporary because lotus can reestablish from seeds and roots.
American lotus can be safely controlled by chemicals. This must be done carefully. If a pond containing a large amount of any pond weeds is treated to remove all of the vegetation, a fish die-off could occur. When the dying weeds decompose, they use up the oxygen in the water and fish can suffocate. If possible, treat only a portion of the area, wait about two weeks, and treat another portion.
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