For sale: the biggest American ranch ever put on the block -- larger than Los Angeles and New York City combined -- nearly 800 square miles of north Texas prairie, cattle pasture and, of course, oil fields.
Price tag: $725 million, more than quadruple the biggest public sale of a U.S. ranch to date.
“It’s almost the size of Rhode Island,” said Mike Baskerville, court-appointed receiver managing the sale of Waggoner Ranch, about 175 miles northwest of Dallas. “It’s the last of the great family ranches -- the largest ranch in the country, we believe, under one fence.”
Actually, it’s not quite Rhode Island, which covers about...