Pathfinder Ranches

Casper, Wyoming

PRICE TBD

98,000± Acres

INTRODUCTION

Where Legacy, Landscape, and Opportunity Converge

Nestled in the heart of central Wyoming and spanning an extraordinary 638,000± acres, Pathfinder Ranches is a rare and sweeping expanse of legacy rangeland, big-game habitat, and working cattle operations. This unmatched assemblage of 13 ranches includes more than 98,000± deeded acres, interwoven with extensive federal and state grazing leases. A mosaic of historic ranches dating back to the late 1800s, Pathfinder today is a model of land stewardship—blending operational agriculture, ecosystem restoration, and investment potential into a singular, large-scale holding.

These lands are not only productive—rich in native grasses and pre-1904 water rights—but also biologically significant. Pathfinder Ranches is a one-of-a-kind fusion of ecological stewardship and agricultural productivity. Here, generational ranching traditions coexist with cutting-edge conservation practices. The land teems with wildlife, from iconic species like mule deer, elk, and pronghorn to raptors, songbirds, and sage-grouse. Renowned for its fly-fishing and outdoor recreation, Pathfinder borders some of the state’s most cherished waters, including the North Platte River’s Miracle Mile, the Sweetwater River, and Pathfinder Reservoir.

Ranch infrastructure includes hunting lodges, cabins, barns, shops, an indoor riding arena, shipping facilities, and even a chapel—all framed by sweeping views of Wyoming’s mountain and prairie landscapes. Over 4,500 acre-feet of water rights and vast rangeland support sustainable livestock grazing through four grazing associations and 92,700 AUMs. For sportsmen, the ranch is a paradise. For ranchers, it’s a turnkey operation with a long track record of livestock success. For investors, Pathfinder offers a portfolio of income-producing assets and a platform for significant appreciation and ecological credit generation.

Whether viewed as a conservation opportunity, a legacy ranch, or a strategic investment, Pathfinder Ranches represents scale, story, and substance—an irreplaceable asset on the Western frontier.

1 Pathfinder Ranches | Casper, Wyoming

QUICK FACTS

• 98,000± deeded acres, over 638,000± total acres, including state trust land grazing leases and Bureau of Land Management grazing

• 92,700 Animal Unit Months (AUMs)

• Four Federal grazing associations

• 29 Federal allotments & 22 State leases for grazing

• Over 4,500 acre-feet of pre-1904 water rights

• Extensive wells, tanks & pipelines across all ranches

• Turnkey livestock infrastructure includes barns, shops, shipping facilities, corrals, an indoor arena, and a full suite of support structures

• Access to the famed Miracle Mile, Pathfinder Reservoir, and Sweetwater River for trophy trout fishing

• Trophy potential elk, mule deer, pronghorn, bighorn sheep, as well as predator hunting

• Exclusive outfitter lease with a reputable outfitter

Ranches | Casper, Wyoming

• 18,490± deeded acres

• With Buzzard & Sand Creek Ranches, 127,636± acres of Federal & State grazing permits

• Agricultural facilities include Pathfinder Ag HQ, horse barns, corrals, indoor and outdoor arenas, machine sheds, shops

• Hospitality lodging options include Pathfinder Lodge and a church

BUZZARD RANCH

• 15,087± deeded acres

• With Buzzard & Pathfinder Ranches, 127,636± acres of Federal & State grazing permits

• Agricultural facilities include a horse barn, corrals, outdoor arena, shops

• The Buzzard Bunkhouse offers hospitality lodging options

www.fayranches.com | 800.238.8616 | info@fayranches.com

SAND CREEK RANCH

• 2,905± deeded acres

• With Buzzard & Pathfinder Ranches, 127,636± acres of Federal & State grazing permits

• Agricultural facilities include a horse barn, corrals, outdoor arena, shops

• The Sand Creek Lodge offers hospitality lodging options

MIRACLE MILE RANCH

• 2,4,89± deeded acres

• 7,430± acres of Federal & State grazing permits

• Cabin B, The Schoolhouse, and Log Barn Lodge offer hospitality lodging options

5 Pathfinder Ranches | Casper, Wyoming

DUMBELL RANCH

• 22,573± deeded acres

• 79,562± acres of Federal & State grazing permits

• Agricultural facilities include Dumbell Ag HQ, horse barn, corrals, hay fencing, shops

• The Bunkhouse, Spear Ranch House, and a trailer offer hospitality lodging options

• 4,885± deeded acres

• With Perkins Ranch, it offers 21,054± acres of Federal & State grazing permits

• Agricultural facilities include a large barn, corrals, a shop and additional outbuildings

• The main house provides hospitality lodging options

PERKINS

RANCH

• 640± deeded acres

• With Two Iron Ranch, it offers 21,054± acres of Federal & State grazing permits

SUN RANCH

• 22,151± deeded acres

• With Stewart Ranch, it offers 297,434± acres of Federal & State grazing permits

• Agricultural facilities include Sun Ag HQ, horse & calving barns, corrals

• Grieves Cabin & Sun Ranch Cabins offer hospitality lodging options

PISTOL DRAW RANCH

CARDWELL

ACCESS RANCH

• 3,903± deeded acres

• With Cardwell Access Ranch, it offers 16,938± acres of Federal & State grazing permits

• Agricultural facilities include Pistol Draw Ag HQ, horse barn, corrals

• The main house and bunkhouse offer hospitality lodging options

• 170± deeded acres

• With Pistol Ranch, it offers 16,938± acres of Federal & State grazing permits

STEWART CREEK RANCH

• 477± deeded acres

• With Sun Ranch, it offers 297,434± acres of Federal & State grazing permits

CARDWELL

DRY CREEK RANCH

• 3,395± deeded acres

• 8,253± acres of Federal & State grazing permits

BISON BEND

• 1,469± deeded acres

• 6,403± acres of Federal & State grazing permits

7 Pathfinder Ranches | Casper, Wyoming

ACREAGE

• 98,000± deeded acres

• 565,000± state trust land grazing leases and Bureau of Land Management grazing permits

• 638,000± total acres

Ranches | Casper, Wyoming

RECREATION

Pathfinder Ranches sit at the heart of one of Wyoming’s most diverse recreational corridors, offering yearround access to iconic landscapes and outdoor experiences. The nearby Miracle Mile, a legendary stretch of the North Platte River, is renowned for trophyclass rainbow and brown trout fishing. Pathfinder and Alcova Reservoirs provide boating, ice fishing, and lakeside camping opportunities just minutes from the ranch.

To the west, the Seminoe and Ferris Mountains rise with trails for hiking, horseback riding, wildlife viewing, and backcountry exploration. In winter, the region transforms into a haven for cross-country skiing and snowmobiling, with nearby Casper Mountain offering groomed trails and a small ski area. Whether fly fishing, big game hunting, or off-road adventure, Pathfinder Ranches provide immediate access to the best of central Wyoming’s wild, scenic, and storied terrain.

HUNTING | WILDLIFE

Pathfinder Ranches are prized for exceptional elk, mule deer, pronghorn, and bighorn sheep hunting. The ranch supports a licensed Wyoming outfitting lease with a reputable outfitter, and big game populations benefit from vast, uninterrupted habitat and critical winter range. Anglers will appreciate proximity to the famed Miracle Mile on the North Platte River and the Sweetwater River, Pathfinder Reservoir, and Alcova Reservoir— offering world-class trout fishing and flatwater recreation. The property also supports waterfowl, upland bird hunting, hiking, horseback riding, and wildlife viewing.

Ranches | Casper, Wyoming

FISHING

Fishing at Pathfinder Ranches is world-class, with access to the famed Miracle Mile, Sweetwater River, Alcova Reservoir, and Pathfinder Reservoir. These waters are legendary for producing quality rainbow and brown trout. Anglers will find solitude, scenery, and the chance to land some exceptional fish.

CLIMATE

Pathfinder Ranches experience a semi-arid, high-altitude climate with low humidity, cold winters, and mild summers. Annual precipitation averages around 10 inches; elevations range from 5,400± to over 10,000± feet.

Climate charts courtesy of https://www.city-data.com/city/Casper-Wyoming.html

INCOME OPPORTUNITY

Pathfinder Ranches offer diverse and scalable revenue streams. Core income derives from a robust cattle operation supported by 92,700 AUMs across deeded, federal, and state lands, managed through four grazing associations. Additional revenue is generated from an established outfitting lease for big game hunting and potential leases for fishing and recreational access.

Pre-1904 water rights, a critical and appreciating asset in the West, present long-term value and leasing potential. Infrastructure such as lodges, barns, and ranch facilities offer turnkey operations or can be repurposed for agritourism or hospitality ventures. Pathfinder’s scale, diversification, and regulatory positioning make it uniquely suited for operational, conservation, and capital-returning investment strategies.

www.fayranches.com | 800.238.8616 | info@fayranches.com

Ranches

Casper, Wyoming

AREA HISTORY

Pathfinder Ranches are steeped in Western lore. Originally homesteaded in the 1880s, the lands have been continuously operated for ranching, surviving boom-and-bust cycles while stewarding critical ecological and historical features. Trails of the Oregon, Mormon, California, and Pony Express routes traverse the property. The historic Pathfinder Dam, completed in 1909 and still used today, reflects early federal investment in reclamation and water infrastructure.

NEARBY ATTRACTIONS & ACTIVITIES

The ranch lies at the intersection of recreation and history. Independence Rock, a prominent granite outcropping along the Oregon Trail, sits on the ranch’s northwest boundary. Nearby landmarks include Devil’s Gate and Martin’s Cove—both central to pioneer migration and Latter-Day Saint history. Pathfinder and Alcova Reservoirs offer boating, fishing, and camping, while Casper, 50 miles east, offers skiing, museums, rodeo, and shopping

Devil’s Gate - Photo not taken on property

Photo not taken on property

Photo not taken on property 21 Pathfinder Ranches | Casper, Wyoming

LOCATION

Located in central Wyoming, spanning Natrona, Carbon, Fremont, and Sweetwater Counties. The ranch lies between the Seminoe and Ferris Mountains, with the Sweetwater and North Platte Rivers running through it— offering a secluded yet accessible position in the heart of the Mountain West. Casper is the closest municipality that offers full amenities, including hospitals, dining, shopping, professional services, and airport access, which serve as a reliable hub for ranch operations and travel.

AIRPORT SERVICES

Casper–Natrona County International Airport (CPR) lies just 50± miles to the east and offers daily commercial service via United and Delta to Denver and Salt Lake City. The airport is fully equipped to accommodate private aircraft with a fixed-base operator (FBO), Jet-A and Avgas services, hangar storage, de-icing, and ground support. Runways measure over 10,000 feet—sufficient for large private and corporate aircraft.

WATER RIGHTS

Water is a core asset of Pathfinder Ranches—both operationally and as a long-term investment. The property holds 15 pre-1904 surface irrigation water rights across five main ranch units, with a total capacity to irrigate over 4,500 acres. These rights, senior to Pathfinder Reservoir (priority date 1904), are largely shielded from administrative “calls” under the North Platte Decree, significantly enhancing their security and value. A suite of water wells, tanks, pipelines, and troughs extend water availability across vast grazing lands, ensuring a dependable supply for both wildlife and livestock.

MINERAL RIGHTS

All mineral rights appurtenant to the property and owned by the seller will convey to the buyer at closing. Mineral rights are not guaranteed. It is suggested that the buyer conduct a mineral search with a title company.

CONSERVATION | STEWARDSHIP

The Sweetwater River Conservancy is a large-scale conservation bank within Pathfinder Ranch, preserving over 42,000 acres of critical sage-grouse habitat in perpetuity. It supports diverse wildlife, protects water resources, enables sustainable ranching, and generates conservation credits through rigorous ecological management and habitat enhancement.

Each of us at Fay loves the land and wants to see it remain a productive agricultural ground and a quality fish and wildlife habitat. Through promoting thoughtful land stewardship, Fay has guided owners toward a legacy of conserving wideopen spaces, enhancing and creating fisheries and wildlife habitats, and implementing sustainable agricultural operations. Fay is proud to say that since our company began in 1992, our clients’ conservation ethics and land-use practices have significantly enhanced our work landscape.

Pathfinder Ranches offers a rare convergence of scale, productivity, and investment potential across 638,000± acres in central Wyoming. With over 98,000 deeded acres, pre-1904 water rights, and 92,700 AUMs, the ranch supports a turnkey cattle operation and abundant wildlife habitat. Pathfinder is anchored by the nation’s largest private sage-grouse conservation bank, which presents a strategic opportunity for mitigation credit revenue and land stewardship. Robust infrastructure, diverse recreational assets, and rich historical significance further elevate its value. Whether for an operational rancher seeking proven functionality or an investor targeting land-based returns with conservation upside, Pathfinder is a legacy asset positioned for growth.

www.fayranches.com | 800.238.8616 | info@fayranches.com

Ranches | Casper, Wyoming

This is an exclusive co-listing with Fay Ranches and Engel & Volkers Sheridan. Please contact Robb Nelson at (303) 909-6491 | rnelson@fayranches.com or Zach McDermott at (307) 752-1212 | zach.mcdermott@engelvolkers.com to schedule a showing. Robb Nelson and/or Zach McDermott must be present at all showings unless otherwise noted or other arrangements are made. To view other properties we have listed, please visit our web page at www.fayranches.com.

Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction.

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