Wyoming’s Walton Ranch!

Wyoming’s Walton Ranch!

Wyoming's Walton Ranch!

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Geological engineer, Paul Walton, was what every petroleum geologist dreams of being - an oil finder. Walton had an eye for oil land formation that was so sharp, his competition suspected he had oil x-ray vision. He is best known in the early years of his career for contributing to finding the huge oil wells in Saudi Arabia when sent to explore by Standard Oil. Later on, J. Paul Getty engaged him to find oil in the area between between Saudi Arabia and Kuwait. On both of these oil finding excursions to the Middle East, he was highly successful, making billions for his employers. However, both times he contracted serious disease; the first time, rheumatic fever and the second time, life-threatening dysentery. Each time when he came back to the United States to recover, both Standard Oil and Getty released him from his employment and refused to pay the months of medical bills incurred on their behalf. That was the last time he worked for others and became a self-employed independent geologist. Soon after, in a new partnership, he filed oil and gas leases on 100,000 acres of the Wasatch Plateau of central Utah, and in 1951, his testing resulted in a gas flow find producing 7.5 million cubic feet per day with a reserve of 200 billion cubic feet.

Having grown up on a ranch, in 1958 Paul and his wife, Betty, bought 1,848 acres along three miles of the Snake River in Jackson Hole, Wyoming. When purchased, several hundred acres were in swampland, but they reclaimed the land and turned it into hay meadows. From there they turned it into a working ranch that was their home base, turning it into a showplace in the process. In order for it to be protected into the future, they deeded a conservation easement to the Jackson Hole Land Trust, which would preserve the land for ranching only. The gift of the Walton Ranch is the second-largest private conservation effort in Teton County history, second only to the Rockefeller family’s gift of over 1,100 acres in Grand Teton National Park to the United States Government in 2001.

Now for sale, structures on the ranch include the manager's housing complex which consists of two homes and a bunkhouse along with several outbuildings, machine shed, hay shed, calving barn, horse barn and complete set of corrals. The owner's home, used mainly during the summer months, is a two-level 2,234 square foot house with multiple decks in a grove of mature trees. The owner's home parcel and the other reserved building sites are served by underground utilities and offer a new owner the best locations on the ranch to build their own dream home. For more information.

Historic Walton Ranch, only five miles from Downtown Jackson and fifteen minutes to world-class skiing and commercial-private air service, was originally listed at $100 million, now priced at $48.7 million.

Source: www.rmabrokers.com