A 37,000-acre West Texas ranch is up for the taking after a federal bankruptcy court ordered the sale of the property and all of its assets.
KC7 Ranch near Balmorhea in the Davis Mountains will be liquidated, according to a release from Icon Global Group, the Dallas-based brokerage firm overseeing the property’s sale.
The ranch’s water, mineral and surface fee simple rights are included in the deal.
You can take a behind-the-scenes tour of the ranch by clicking here.
“The inclusion of the previously unavailable but immensely valuable owned water rights in this property is a game changer and makes for an extremely unique and potentially revenue-rich investment opportunity with predicted income streams potentially worth many multiples beyond any surface value acquisition price,” said Bernie Uechtritz in a prepared statement.
Uechtritz, founder of Icon Global Group and the broker behind the sale of Waggoner Ranch, is brokering the sale. He said the property is capable of producing approximately 400,000 barrels of frac water per day.
Related: Go inside Waggoner Ranch
In January, the Fort Worth Star-Telegram reported Thomas Darden, a former Quicksilver Resources executive, filed for bankruptcy protection for the ranch and its assets.
The ordered sale of the property stems from that bankruptcy filing, the Icon Global Group release said.
The ranch includes a 10,000 square-foot,1890s stone lodge that boasts six bedrooms and a library along with several other buildings and various capital improvements.
Uechtritz said the ranch, which is located near the oil-rich Permian Basin, was previously on the market for $52 million, but there is currently no listed price tag.
“I expect realistic entry level bids which will get enough of our attention to go to the court for approval will start around $35 to $40 million and go up from there,” he said.
All offers must be submitted by Nov. 30.
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