"It's time to start simplifying."
Aubrey McClendon, speaking to the Wall Street Journal, on why he's auctioning one of his three ranches in Oklahoma after purchasing it less than five years ago.
According to John Marshall of the National Auction Group, McClendon is taking a "huge gamble ... He could either win the lottery or lose a bundle." The 4,400-acre ranch will be auctioned regardless of price.
4 comments:
Oklahoma ranch land... what's that worth? About a grand per acre? Big whoop.
According to the WSJ, a 410 acre ranch went for $600,000 recently, or about $1,500 per acre. Since McClendon's is 10x that size, that puts it at $6,000,000. I'd say that's a big whoop, considering he's not going to get anything near that, and he paid at least that much to get it. Just another sign that he's in a crapload of financial trouble right now.
You edited the OP. Yesterday it said 271 acres. To that I said big whoop.
Fair enough - the name of the ranch is "The 271", and somehow that snuck into the little story. A 271-acre ranch wouldn't be that big of a deal.
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