Real Estate

Massive high desert ranch larger than the city of Denver up for sale — for the first time in more than 45 years

By
Mary K. Jacob
Published March 28, 2025, 4:22 p.m. ET

A massive 110,000-acre New Mexico ranch, bigger than the city of Denver, just galloped onto the market with a staggering $68.5 million price tag, making its grand debut after more than 45 years under one family’s reign. 

Located near the remote hamlet of Fence Lake, this property — known as Atarque Ranch — has been a cherished retreat for the Yates family since 1978, a lineage tied to the oil and gas fortunes of Yates Petroleum Corp., which they sold to EOG Resources for $2.5 billion in 2016.

The decision to part with this rugged paradise stems from the passing of John Yates Sr., who, alongside his three brothers, acquired the land decades ago, according to  

A sprawling 110,000-acre ranch in New Mexico, larger than the city of Denver, has been listed for sale at $68.5 million, marking its first availability in over 45 years.
A sprawling 110,000-acre ranch in New Mexico, larger than the city of Denver, has been listed for sale at $68.5 million, marking its first availability in more than 45 years. Hall and Hall
Known as Atarque Ranch, the property near Fence Lake has been owned by the Yates family since 1978.
Known as Atarque Ranch, the property near Fence Lake has been owned by the Yates family since 1978. Hall and Hall
The ranch belongs to heirs of Yates Petroleum Corp., which they sold in 2016 for $2.5 billion
The ranch belongs to heirs of Yates Petroleum Corp., which they sold in 2016 for $2.5 billion. Hall and Hall

His death three years ago at age 93 has prompted the family to seek a new steward. 

“We will miss the ranch,” Trey Yates, vice president of the family’s Abo Empire, told the outlet, noting the sale aligns with a strong market. 

The ranch, cherished by the family for hunting and recreation, features a modest 2,766-square-foot main home.
The ranch, cherished by the family for hunting and recreation, features a modest 2,766-square-foot main home. Hall and Hall
The ranch has a wildlife habitat with elk, deer, and antelope, and a working livestock operation.
The ranch has a wildlife habitat with elk, deer and antelope, and a working livestock operation. Hall and Hall

“But the market’s good right now. It’s a business decision.” 

The family, known for its recreational use of the property, issued a statement expressing its hope: “Seeking a new steward to preserve the ranch’s natural beauty, wildlife and significant Native American heritage.”

Trey Yates III, now 30 and grandson of the late John Yates Sr., carries fond memories of the land. 

The ranch occupies a colossal 110,000 acres.
The ranch occupies a colossal 110,000 acres. Hall and Hall
It boasts diverse terrain—plateaus, canyons, and grasslands.
It boasts early homesteader ruins. Hall and Hall
along with Native American petroglyphs and early homesteader ruins.
It also boasts Native American petroglyphs and early homesteader ruins. Hall and Hall

As a child, he roamed its diverse terrain — stretching from high plateaus to deep canyons and sweeping grasslands — uncovering relics of the past. 

“You never knew what you were going to find,” he said, recalling the thrill of discovering arrowheads and pottery shards amid Native American petroglyphs and the stone remnants of early settlers. 

The ranch, named for its Spanish translation “earthen dam,” doubles as both a thriving wildlife sanctuary — home to bull elk, mule deer and pronghorn antelope — and a functioning livestock operation.

It boasts diverse terrain—plateaus, canyons, and grasslands
It features diverse terrain — plateaus, canyons and grasslands. Hall and Hall
Native American petroglyphs can be seen throughout the ranch.
Native American petroglyphs can be seen throughout the ranch. Hall and Hall

Real estate broker Jeff Buerger of Hall and Hall, who listed the property on Sunday, highlights its unique appeal. 

“It’s extremely well blocked out — it does not have a lot of public access,” he told Mansion Global, emphasizing its status as a premier hunting ground for elk. 

The ranch’s remote headquarters, accessible via Highway 36 and roughly 160 miles from Albuquerque, features a four-bedroom, two-bathroom main residence, a three-bedroom manager’s home — and an array of outbuildings including a metal barn, a log barn and equipment sheds. 

The decision to sell came after the death of John Yates Sr., who purchased it with his brothers.
The decision to sell came after the death of John Yates Sr., who purchased it with his brothers. Hall and Hall
the family seeks a new steward to preserve its natural beauty and heritage.
The family seeks a new steward to preserve its natural beauty and heritage. Hall and Hall

With 26 wells, a spring and 105 stock ponds, the property also holds a rare water rights decree covering nearly 60 acres — a scarce asset in the region.

Buerger points to the land’s untouched allure, from its dramatic rock outcrops, arroyos and more. 

“There are really beautiful things about the land,” he said. “There’s no light pollution, so the star scape is exceptional.” 

With a remote location 160 miles from Albuquerque, the ranch includes additional residences, barns, and significant water rights, making it a rare find.
With a remote location 160 miles from Albuquerque, the ranch includes additional residences, barns and significant water rights, making it a rare find. Hall and Hall
or 30-year-old Trey Yates III, the ranch holds childhood memories of exploring for arrowheads, though the family, with other land holdings, views the sale as a timely business move in a favorable market.
For 30-year-old Trey Yates III, the ranch holds childhood memories of exploring for arrowheads, though the family, with other land holdings, views the sale as a timely business move in a favorable market. Hall and Hall

He added that finding a comparable property at this price in New Mexico, or even in Montana’s high-end ranch market, would be a challenge.

The Yates family’s roots in resource development trace back to 1924, when Martin Yates Jr. and his wife, Mary, struck oil with their Illinois No. 3 well in Eddy County, the first commercial success on state lands. 

Their four sons — Harvey, Martin II, St. Clair Peyton (S.P.) and John — carried the legacy forward, shaping Artesia and the broader region. 

S.P. Yates founded Yates Drilling Co., later sold, while his descendants established Santo Petroleum in 2010. Alongside Abo Empire and Sharbro Energy, the family’s diverse holdings reflect a century of enterprise.