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
American Lotus
By Tony Dean
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.
Farm & Ranch
Tracks in the Sand
This morning, I walked out into my arena and noticed something that gave me pause. The roping steers had been in there the day before, and even though the ground was wide and level, the sand carried their story. Hoofprints crossed every direction, but in several spots, the same trail was pressed deeper than the rest. Twelve steers had been turned out, yet more than a few chose the exact same path, wearing it down until it stood out from all the other tracks.
Cattle are creatures of habit. Anyone who has spent time around them knows this. They like routine: the same feed, the same water trough, the same shade tree in the pasture. When they are turned loose, they rarely wander without purpose. More often than not, they move together, following the same course as the steer in front of them. There are reasons for this: efficiency, safety, instinct. Walking a beaten path conserves energy, and following the herd is their natural defense. Even in an arena with no real destination, those instincts come through. By the end of a short turnout, you will see the evidence, lines where they have chosen the easiest way to travel and stuck with it.
Out on the range, those lines last longer. Before fences and highways, cattle drives cut deep paths across the land. The Chisholm Trail, which carried herds north from Texas through Oklahoma into Kansas, was walked by millions of cattle in the late 1800s. More than a century later, faint traces of those trails remain, worn so deep by hooves and wagon wheels that the land still carries the mark. On ranches today, you can see the same effect in pastures where cattle walk the same lines between water and grazing. From the ground those trails might look like nothing more than dusty ruts, but from the air, they sometimes stand out as sharp lines winding through otherwise open fields. Cattle do not simply pass over the land; they shape it. Every step adds up.
That simple truth extends beyond livestock. We all make tracks. Our habits and routines are our trails, worn in by repetition, sometimes efficient, sometimes limiting. Like the cow paths, they can serve a purpose, keeping us steady and helping us move forward. But when repeated without thought, they risk becoming ruts, keeping us from stepping into new ground. History offers perspective here too. The old cattle trails built towns and economies, but once railroads and fences changed the landscape, those paths were no longer useful. Sticking to them would have meant going in circles. Progress required something new.
The Tracks We Leave
Standing in the arena, I thought about the kind of tracks I leave behind. Most of mine are not visible in the dirt. They are pressed into my daily life, how I work, the way I handle challenges, the example I set. Some are helpful and worth keeping. Others may have outlived their purpose. The difference comes in knowing when to stay in the track and when to step out of it.
Tomorrow I will drag the arena and smooth it all clean again. The next time the steers are turned in, they will make the same trails. That is their nature. But unlike them, I have a choice. I can decide which paths are worth walking, which ones to change, and what kind of tracks I want to leave for others who might follow.
Tracks tell a story. Sometimes they are only temporary, fading with the next rain. Other times they last for generations, reminders of where herds and people once walked. This morning, the cattle showed me again that even the smallest things on the ranch carry meaning. Their tracks in the arena were not just marks in the sand. They were a lesson: every step matters, and the paths we choose shape more than just the ground beneath our feet.
Farm & Ranch
Leopold’s Legacy: The Five Tools That Shaped Conservation
By Raenne Santos
Known as the father of wildlife management, Aldo Leopold’s teachings reshaped our understanding of conservation and our role in nature. His philosophy, rooted in ethics, ecology, and action, emerged in response to the environmental degradation of the early 20th century in the American West. Overgrazed pastures, eroding soils, and changing wildlife populations revealed the consequences of treating natural resources as limitless.
Recognizing these challenges, Leopold theorized a transformative approach to land stewardship, emphasizing that the land is not merely a commodity, but a community in which we all belong. His works, A Sand County Almanac and Land Ethic, are still referenced to this day by modern conservationists. In Land Ethic, he introduced a practical framework for wildlife management known as the Five Tools of Wildlife Management, which offers land stewards a structured approach to maintaining and restoring ecological balance.
Symbolizing brush management, the axe is one of Leopold’s tools for controlling invasive species, shaping habitats, and mitigating wildfire risks. By selectively removing vegetation, land managers can enhance biodiversity, create open spaces for native species, and maintain healthy ecosystems.
Representing grazing animals, the cow (when used properly) mimics the natural disturbances once provided by bison. Grazing animals promote healthy ecosystems by aiding in nutrient cycling and soil disturbance. Responsible grazing practices prevent overuse and contribute to sustainable land management.
The plow signifies mechanical disturbance and soil preparation, crucial for habitat restoration and agricultural productivity. Used strategically, it aids in cultivating crops and creating conditions favorable to wildlife. However, misuse can lead to erosion, requiring careful application in conservation efforts.
Fire, a powerful natural tool, plays a crucial role in maintaining biodiversity and landscape resilience. Land managers use prescribed fire to control invasive species, rejuvenate plant communities, and shape habitats. Fire promotes the natural cycles of ecosystems and supports species diversity.
The final tool, the gun, is used to manage game populations and control predators. During Leopold’s time, unregulated hunting contributed to species extinction and posed threats to others. Today, hunting is strictly managed through game laws and seasonal regulations to ensure sustainable populations.
Leopold’s Five Tools of Wildlife Management continue to influence conservation practices today. While techniques have evolved, the fundamental principles remain the same—balancing human involvement with ecological processes to sustain healthy ecosystems. His approach emphasizes the importance of working with nature rather than against it. By embracing ethical land stewardship, modern conservationists honor Leopold’s vision, ensuring that future generations inherit thriving landscapes.
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