Private Independent Foundations (T22) The Company continues to expand its operations. Having been raised on a large-scale grain and cattle farm, the ag sector is what I know and love. COPYRIGHT | PRIVACY POLICY | TERMSOFUSE, about Crime Watch: Horse stolen near Orange, about Texas, Oklahoma weekly livestock auction summaries for March 3, about U.S. drought monitor and summary report for Feb. 28, Texas, Oklahoma weekly livestock auction summaries for March 3, U.S. drought monitor and summary report for Feb. 28. Tio Kleberg continued to run the ranch's day-to-day operations. Billionaire Stan Kroenke, owner of what are now the NFL's Los Angeles Rams, has purchased a massive Texas ranch that had a $725 million price tag. A couple months later, Abraham Zaleznik, a King Ranch director since 1988, replaced the retiring Denman as chairman of the board. That keeps the actual meeting time focused on strategic discussions. Along the way, the ranch's selective breeding efforts intensified. Governance highlights include: Ulteig Engineers Inc. Dr. Espy has a solid resume of experiences and service to the veterinary profession . The 50,000-acre ranch, which features Spanish-style cottages and usually has a full working staff, was settled in 1882 by a Texas Ranger named John Armstrong III, who passed the land on to the family. RISMedia's 2022 Power Broker Report ranks Fathom Realty number 16 in total residential sales volume, up from number 22 in 2020. The external directors are adding value in development of a strategic plan that allows the company to grow and create value for employee-owners (debt, cash flow, investments). King Ranch, Inc. operates one of the largest and most famous cattle ranches in the world. Email: dbivins@king-ranch.com, King Ranch Corporate Offices In choosing Clement to lead King Ranch into the next generation, the family passed over Robert Shelton, a vice-president and King relative who had been raised by Bob Kleberg. At some 825,000 acres (3,340 km2; 1,289 sq mi) it is larger than the state of Rhode Island and country of Luxembourg. After his departure, Roger Jarvis, who had been running the company's petroleum operations, was named president and CEO. Responsible for overall supervision and control of all functions of Valor Ranch. PO Box 1090. King Ranch. Prior to AMERRA, he served as senior vice president of J.D. Committees: Governance Plus (the plus refers to business succession), Finance/Audit, Risk/Cyber/Safety, Business Investment and Diversification. King and Kenedy also used their shipping enterprise to supply the Confederate army. Another turnover in management took place in 1995. Who lives on King Ranch? CEO Robert Hodgen. The Santa Gertrudis cattle combined the beefiness of the British Shorthorns with the Brahmans' ability to withstand the hot climate of summertime Texas. Cal Farley's Boys Ranch Board of directors as of 02/13/2023 SOURCE: Self-reported by organization . Sprawled across 1,300 square miles of Texas hills, desert and coastal prairies, King Ranch is among the top hunting destinations in North America, and one of the Lone Star . Published Jul. Governance highlights include: King Ranch A steamboat pilot by trade, King had arrived in southern Texas about eight years earlier to run a shipping operation on the Rio Grande with partner Mifflin Kenedy. Governance highlights include: Commerce State Bank NNDB has added thousands of bibliographies for people, organizations, schools, and general topics, listing Although 60,000 head of cattle continued to graze King Ranch's sprawling acreage and the company remained a major force in the cattle industry, King Ranch evolved into a distinct agribusiness and energy corporation during the 1990s. The board also helped with the development of a three-year strategic plan and two new office locations nationally in 2020 and 2021, with an additional location planned for 2021. Mr. Clement is chairman of the Management Council of the King Ranch Institute for Ranch Management at Texas A&M University-Kingsville. Visit Site. By late 1989, Coker had completed a draft ready to be sent out for peer review, a standard practice whereby academic . Hodgen, 45, brings nearly 25 years of executive leadership and investment management experience in the agribusiness and food sectors to the role. Copyright 2023 King Ranch. Dozens of private boards of directors were nominated for the 2021 Private Boards of the Year award, but seven stood out for their diligence, standards and outcomes. Smith's reign lasted only a year. By the early 1970s, King Ranch controlled about 11.5 million acres of land worldwide. In 1938 he bought Kentucky Derby winner Bold Venture as a foundation sire for the ranch's thoroughbred breeding program. At some 825,000 acres (3,340 km2; 1,289 sq mi) it is larger than the state of Rhode Island and country of Luxembourg. Estate taxes had left the ranch with a $3 million debt, however, and for the next few years the company struggled to remain afloat, with Bob Kleberg acting as manager of its day-to-day operations. Chance completed a project focusing on Key Performance Indicators that management and the board of directors can use to determine the ranch's profitability and productivity, while also . Several new ways to generate revenue were found over the next few years. The Kleberg family's choice to replace him as president and chief executive officer of the company was James H. Clement, the husband of Ida Larkin, one of Richard King's great-granddaughters (and Robert Kleberg Sr.'s granddaughters). Three Riverway, Suite 1600 Before joining King Ranch, Hodgen spent six years as Managing Director at AMERRA Capital Management, where the Private Equity team under his leadership invested in six agribusiness and aquaculture platform companies and he served on the Board of Directors for two of those investments. ANTHONY A. SIMMONS, director. Only a 50,000-acre ranch in Brazil remains, run by Mr. Kleberg's son Chris, 28. Liked by Terry King. Alexander will be Tio grew up on King Ranch in Kingsville, Texas, working summers with ranch operations. EIN. Mrs. King's death brought about a web of complications stemming from the division of her estate, high estate taxes, and various debts. Corporation Service Company d/b/a CSC-Lawyers Incorporating Service Company, agent. After the passing of one of the ranch owners, the ranch management was left in the hands of Mark Eisele, who has worked on the ranch since the 1970s. In 1884 a young lawyer named Robert Kleberg began handling the legal affairs of King Ranch. On-site handling of all carbon, solar, and other renewable business development projects . Is King Ranch a real ranch? Main address. . During the 1940s and 1950s, a number of innovations improved production and kept King Ranch at the cutting edge of the cattle industry. He also bought a stake in the Idle Hour Stable in Lexington, Kentucky, in 1946. Chairman: Kevin Borie. Growth has been aggressively pursued. 2020 BY KING'S HOME (FORMERLY THE KING'S RANCH AND HANNAH HOMES) Yarborough, an independent petroleum operator and former Humble Oil geologist--not to mention the husband of Richard Kleberg, Sr.'s, daughter Katherine--decided to take on the task on a part-time basis. A complete timeline of King Ranch's History from founding to present including key milestones and major events. in Animal Science from Oklahoma State University and an MBA in Finance from The Wharton School of the University of Pennsylvania. His son, Dick, Jr., had been playing an increasingly important role in company affairs since the 1940s, and in 1969 he was named chairman of the King Ranch board of directors. Mark and his wife Trudy and their family, proudly carry on the . Type of Private Board: Fiduciary King Ranch. more than 50,000 books and 120,000 other kinds of references. In Australia, one of King's partners was Swift & Co., the biggest buyer of the ranch's U.S. beef output. Clement stated that Underbrink will remain President, CEO and a board member until a successor is announced. Type of Private Board: Fiduciary As income from both cattle and petroleum operations declined, the company was forced to look for other business areas in which to try its hand. Heiskell & Co., a 135 year-old family-owned company focused on livestock feed manufacturing, domestic and international grain trading and logistics as well as biofuels production. branding partnerships with Ford Motor Co., Textron Aviation and most recently with the Fertitta Family for the in the United States. The chairman considers the performance of each member prior to their term renewal. In 1969, he received a B. S. in Animal Science at Texas Tech University. Company Chairman John D. Alexander, Jr. and John T. Steen III Vice-Chairman commented that the King Ranch Board is looking forward to working with Robert and are confident his broad professional experience along with a deep knowledge of finance and ag related investments make him a great choice to lead King Ranch into the future. Dick Nord is a Builder/Developer, affiliated as a Real Estate Broker with Windermere Commercial Real Estate in Skagit County WA. The GO debt and the O&M is . King also began to buy and sell cattle in huge numbers. Type of Private Board: Fiduciary Phone: 301.529.9808 That year, a King Ranch horse, Assault (a son of Bold Venture), won horse racing's Triple Crown. Jamey Clement is a Retired Chairman of the Board of King Ranch, Inc., where he has also served as vice president and treasurer. Hodgen holds a bachelors degree in animal science from Oklahoma State University and an masters degree in finance from The Wharton School of the University of Pennsylvania. Underbrink has been President, CEO and a member of the board for 10 years, and an employee for 36 years. Expansion and Innovation in the 1940s-50s. A list of current Board of Directors iii. The Board and the family owners are also very grateful to retiring CEO Robert J. Underbrink for his many years of dedicated leadership and service to the Company. Governance highlights include: C.G. His son, Dick, Jr., had been playing an increasingly important role in company affairs since the 1940s, and in 1969 he was named chairman of the King Ranch board of directors. He will continue to serve as an advisor to the Company on various matters. Committees do a lot of detail work, saving board meetings for more strategic topics. 2023 Texas & Southwestern Cattle Raisers Association; All Rights Reserved. The ranch managed to survive its early years in spite of a hostile environment created by the presence of bandits, unhappy Indians, and the usual assortment of rustlers, raiders, and ruffians associated with the Wild West. Both in the cattle business and in its other pursuits, the management and shareholders of King Ranch expressed a commitment to the kind of experimentation and innovation that helped the company to thrive for so many years. King Ranch began selling Santa Gertrudis bulls to other ranchers in the 1930s, and in 1940 the United States Department of Agriculture recognized Santa Gertrudis as the first ever American-produced beef breed. During the horrible drought years of the 1890s, Kleberg experimented with various ways of getting water to the land. As President, he serves as principal executive officer, reporting directly to the board of directors, presiding over board-of-director meetings when present. Texas and Southwestern Cattle Raisers Association, To Honor and Protect the Ranching Way of Life. After his departure, Roger Jarvis, who had been running the company's petroleum operations, was named president and CEO. Other businesses in which King Ranch is involved include residential real estate and a smattering of retail and commercial ventures near its Texas home turf. Governance highlights include: Daily Gazette of Schenectady Board of Directors data for 2020 *with the ability to download the data for 2019 Today only one of the estimated two hundred lineal descendants of Richard and Henrietta King works and lives full-time on the ranch: 31-year-old James Clement III, whose father, Dallas resident James H. Clement Jr., is the chairman of the King Ranch board of directors. In the 1950s the company went international. The Private Company Governance Summit now in its ninth year, is the only national conference focused on the unique governance challenges for owners, shareholders, directors and advisory board members of closely held, family-owned and private equity-owned companies. He serves on the boards of King Ranch, Inc.; Chairman of the Management . With the controversial lawsuit behind it, King Ranch went ahead with its anniversary festivities, which included a highly publicized cattle and horse charity auction. Term: 2018 - 2020. Kleberg quickly became an indispensable part of the ranch's operation. 10 years.. They began crossbreeding Brahman bulls native to India with their own Shorthorn stock. Wyoming 2015 King Ranch Cheyenne, WY Leopold Conservation Award Recipient. Company Ownership: Closely Held Each committee is chaired by a different external director. Approximate Annual Company Revenues: $100 million-$350 million top of page. Finally, in 1899, an artesian well was drilled. Dick Kleberg died in 1955. All board members also participate in the ESOP communications and administration committee. He is a graduate of the California Ag Leadership Program (Class 36) and previously served as a director of the National Grain and Feed Association. Valor Ranch. Tio and his wife Janell have 3 children, 6 grandchildren and reside at the King Ranch in Kingsville, Texas. Three Riverway, Suite 1600 During the first 15 years of the 20th century, King Ranch managed once again to thrive in the face of further droughts, wars with Mexican raiders, and Kleberg's failing health. Profile for KING RANCH FAMILY TRUST (Kingsville, TX - EIN 746044809) including grantees and board members as of 2019 tax year. Copyright 2023 King Ranch. King Ranch. Board meetings include reviewing overdrafts and past-due loans. Mr Duard King Tall Timber Ranch. a King Ranch director since 1988, replaced the retiring Denman as chairman of the board. Along the way, the city of Kingsville was incorporated, following the vision of Henrietta King. President, CEO and a member of the board for 10 years, and an employee for 36 . All rights reserved. For Immediate Release January 14, 2021 (Houston, Texas) -The King Ranch, Inc., Board of Directors today announced the search for a successor for the current President and Chief Executive Officer, Robert J. Underbrink, 59, of Houston, Texas. As Kleberg became weaker, he passed on responsibility for running the ranch to his sons, Bob and Dick Kleberg. Board Certified Equine Reproduction. Angel served honorably in the U.S. Army and California Army National Guard . Kingnow covers 825,000 acresmore land than the state of Rhode Island. Today only one of the estimated two hundred lineal descendants of Richard and Henrietta King works and lives full-time on the ranch: 31-year-old James Clement III, whose father, Dallas resident James H. Clement Jr., is the chairman of the King Ranch board of directors. Clement Jr., is the chairman of the King Ranch board of directors. King Ranch is the largest ranch in the United States. In 1858 King built the first ranch house at the Santa Gertrudis site on a spot suggested by his friend Robert E. Lee, a young Lieutenant Colonel at the time. i. King split his time between his two businesses, steamboating and ranching, during this period. Detailed process for selecting family members for board service, beginning with board observer roles, then submission of a resume, statement of why they wish to join the board, an oral statement and a four-hour interview, with an outside third party assisting. The company eventually established a presence in Brazil, Argentina, and Venezuela, where the techniques developed to clear mesquite brush in Texas could be used on South American rain forest. Specific information related to the desired use of the grant ii. HOUSTON - August 9, 2021 - The King Ranch, Inc., Board of Directors announced that Robert Hodgen will be the new President and Chief Executive Officer of the company effective today. During the horrible drought years of the 1890s, Kleberg experimented with various ways of getting water to the land. Dick Kleberg died in 1955. Captain King started up his ranch in 1853 in an area known at the time as the Wild Horse Desert or the Nueces Strip, bounded by the Nueces River on the north and the Rio Grande on the south. Our alumni are progressive leaders and exceptional managers at some of the most diverse ranches in the country. The exact . A replay of the awards presentation is available here: https://vimeo.com/561269813. The result was a new breed, which they dubbed "Santa Gertrudis." Robert J. Underbrink. The Company operates various retail operations, including the famous King Ranch Saddle Shop, and has Henrietta King died in 1925, at the age of 92. 0. His buying trips frequently took him into Mexico. The ranch covered more than 600,000 acres by this time. A majority independent board with nine outside directors, four inside (including three founders). Underbrink has been, KINGSVILLE Aug. 25, 2020 For Immediate Release Visitors will have to wait one more year for the 30th Annual King Ranch Ranch Hand Breakfast. By that time, King Ranch had grown to well over a million acres in size and was home to 94,000 head of cattle and 4,500 horses and mules, the quality of which had become very high through selective breeding. More and more emphasis was placed on applying modern business principles to these tradition-bound endeavors. By the early 1970s, King Ranch controlled about 11.5 million acres of land worldwide. To get the company back in the black, Kleberg turned to petroleum. Company Ownership: Family-owned Kleberg married King's daughter Alice the following year. Crews were assigned to slow the encroachment of mesquite brush, which was quickly displacing the favorable "climax grasses." . Both iterations of the board trained up the family members, who did not have governance backgrounds. The King Ranch Saddle Shop, once exclusively a supplier of cowboy gear for the kiñ-os, went into the retail clothing and luggage business. As consumers, we often take for granted all the hard work that goes into building a great company. In 1884 a young lawyer named Robert Kleberg began handling the legal affairs of King Ranch. Company Ownership: Employee-owned January 14, 2021. Angel has lived in Moreno Valley for 14 years, and spent two years at March Air Reserve Base (2003-2004). The board has established term limits for board members and their continued service is determined on the basis of their performance on the board. King Ranch Feedyard. Best practices taken from public boards: executive session preceding each quarterly board meeting, continual refreshment of board advisors to be certain that it is composed of individuals that have experience in the issues affecting the future of the company, board members act as much as possible like a public board. The King Ranch, Inc., Board of Directors announced last week the search for a successor for current President and Chief Executive Officer, Robert J. Underbrink, 59, of Houston, Texas. In order for this to happen, the cattle had to be driven thousands of miles to railroad points as far away as St. Louis, and later, Abilene, Kansas. Copyright 2023 King Ranch. (832) 681-5700. King Ranch had made significant changes in its operations since the early 1990s and its business environment would no doubt continue to transform into the years to come as management looked to diversify into new profitable areas. King purchased the land and he and Lewis launched the livestock operation that would eventually grow into the King Ranch. Chartered as a Texas non-profit corporation in 1969, the Association's stated purpose was to preserve the physical, social and cultural aspects of ranching and to perpetuate the traditions intrinsic values and history of one of our nation's most important industries. Fiduciary board awards were broken down by company revenues and ownership type. TALL TIMBER RANCH Board of directors as of 05/28/2020 SOURCE: Self-reported by organization Board chair. All rights reserved. Leroy Denman, a longtime company affiliate, was elected chairman of the board in 1990. King Ranch Corporate Offices Three Riverway, Suite 1600 Houston, TX 77056 (832) 681-5700 Indeed, by the late 1990s King Ranch's portfolio was hugely diversified, ranging from oil to citrus to cattle. On a trip through the Wild Horse Desert, King noticed a promising piece of land along the Santa Gertrudis Creek. Kleberg serves on the King Ranch Board of Directors, and is past president of the American Quarter Horse Association. Meanwhile, brother Dick served the company from the outside as president of the Texas and Southwestern Cattle Raisers Association and, beginning in 1931, as a seven-term member of the U.S. Congress. When an acquisition was canceled because of the financial impact of COVID-19, the board played a role in retaining employees who were preparing to leave when the acquisition was to be completed. Much of the livestock ended up in the Chicago stockyards; other destinations included new ranches springing up in Oklahoma, Nebraska, Colorado, Wyoming, and Montana, as the cattle industry of the West began to mature. During the Civil War, the ranch served as a depot for the export of southern cotton through Mexico, sidestepping the Union naval blockade. We accept mature and experienced students with ranch management experience, and teach them . The City Council serves as the Board of Directors. The King Ranch name and its Running W brand, first used by Captain King 1869 when he became a sole proprietor, continue as one of the most widely recognized identities in the industry. Cotton farming was another area into which the company plunged with a fair amount of success. I am honored to have the opportunity to serve as the next CEO and look forward to leading such a competent and capable team, Hodgen said. Hodgen, 45, brings nearly 25 years of executive leadership and, KINGSVILLE, July. The awards presented at the online 2021 Private Company Governance Summit on June 9, honor private company boards that best serve their stakeholders owners, shareholders, employees and community with best practices in their structure and performance. King also began to buy and sell cattle in huge numbers. Ward 4 Board Member. These transplanted villagers went to work on the ranch. Source: International Directory of Company Histories, Vol.60. Before joining King Ranch, Hodgen spent six years as [] By the end of the 1860s, King Ranch longhorns were being sold in northern markets. His son, Dick, Jr., had been playing an increasingly important role in company affairs since the 1940s, and in 1969 he was named chairman of the King Ranch board of directors. The family is in its 7th generation, and we believe the time is right to proceed with When King died in 1885, he left his entire estate to his wife, Henrietta. Todays King Ranch is a major agribusiness with interests in cattle ranching, farming (citrus, cotton, grain, sugar cane, and turfgrass), luxury retail goods, and recreational hunting. Headquartered in Texas and owner of the historic 825,000 acre King Ranch, its operations include cattle breeding and production, horses, wildlife management and recreation, and the production of a number of agricultural commodities including cotton, milo, sugar cane, almonds and pistachios and various vegetables. He then bought the parcels and annexed them to the ranch. All transactions of the District are included in the City's financial statements. Known for; Roger L. Jarvis: Business: c. 1954 : CEO of Spinnaker Exploration, 1996-2005: CURRENT BOARD MEMBERS OR DIRECTORS. King Ranch Type of Private Board: Fiduciary Approximate Annual Company Revenues: $100 million-$350 million Company Ownership: Family-owned Governance highlights include: As income from both cattle and petroleum operations declined, the company was forced to look for other business areas in which to try its hand. Parts of King Ranch's property were opened not only to hunters, who pay nearly $3 million a year to shoot at deer, turkeys, and other animals, but to tourists as well. 1946. The company eventually established a presence in Brazil, Argentina, and Venezuela, where the techniques developed to clear mesquite brush in Texas could be used on South American rain forest. A copy of the . The Running W eventually became one of the most widely recognized marks in the history of the cattle industry. Agent Address. When Hunt told his board of directors at a meeting in Houston that he wanted to pay a consulting firm $500,000 to do a study assessing the King Ranch's environmental problems, Tio glared at him . Land Resources Manager. . Under Tio Kleberg's guidance, the company continued to update its cattle, horse, and farming operations. Hodgen also served on Amerra's board of . The King Ranch Saddle Shop, once exclusively a supplier of cowboy gear for the kinenos, went into the retail clothing and luggage business. Privacy Policy, Barles, Pete, "He Stayed Ahead of the Herd; Be Bold: Richard King, With Grit and Innovation, Built the World's Largest Ranch,", Chapman, Art, "Texas Supreme Court Ruling Adds Appeal to Legendary King Ranch Celebration,", "The Fabulous House of Kleberg: A World of Cattle and Grass,", Gonzalez, John W., "Nostalgia, Prestige Rules Kingsville, Texas, Ranch Auction,", "The King Ranch: The Last Frontier Empire Confronts the Modern World,", Pare, Terence, "New Chairman Tenderfoot Takes Over,", Romero, Simon, "Betting the Ranch, a Really Big One,". Corporate Governance and Nominating Committee which will be guiding the Boards search effort. King Ranch. Stephen J. In 1935 the Klebergs made King Ranch a corporation so that its future as a single entity would be more secure. He also bought a stake in the Idle Hour Stable in Lexington, Kentucky, in 1946. In 1988, seeing a need to diversify, the family hired Darwin E . Is King Ranch a real ranch? Over the course of over 160 years, King Ranch led some of the first cattle drives, developed the Santa Gertrudis and Santa Cruz breeds of cattle, bred the finest Quarter Horses, and produced champion Thoroughbredsall under its iconic Running W brand. Estate taxes had left the ranch with a $3 million debt, however, and for the next few years the company struggled to remain afloat, with Bob Kleberg acting as manager of its day-to-day operations. the point of contact for all inquiries relating to the search. Both in the cattle business and in its other pursuits, the management and shareholders of King Ranch have expressed a commitment to the kind of experimentation and innovation that have helped the company thrive for so many years. Tio Kleberg continued to run the ranch's day-to-day operations. James manages the ranch's horse operations and lives in a bungalow near . Phone: 832-681-5701 Kleberg married King's daughter Alice the following year. Contact: DeJuana Bivins In 1976 Clement hired W.B. Underbrink has been Finally, in 1899, an artesian well was drilled. We are in the resource-management business. Please feel free to suggest In 1858 King built the first ranch house at the Santa Gertrudis site on a spot suggested by his friend Robert E. Lee, a young lieutenant colonel at the time. By the end of the Civil War, thousands of head of cattle were roaming the ranch, which had grown to nearly 150,000 acres in size. production, horses, wildlife management and recreation, and the production of a number of agricultural commodities Approximate Annual Company Revenues: Under $100 million Before joining King Ranch, Hodgen spent six . Dick Kleberg died in 1955. Richard Jr. King born 1860-12-15 in King's Ranch, Texas - 1922. Sheila is active in CattleWomen's groups at the local, state . Email: dshaw@directorsandboards.com. Board members review the material and send their comments/questions three days in advance, and the team responds the day before the meeting. The Kleberg family's choice to replace him as president and chief executive officer of the company was James H. Clement, the husband of Ida Larkin, one of Richard King's great-granddaughters (and Robert Kleberg, Sr.'s, granddaughters). As the 1990s opened, King Ranch faced a number of questions. Company Ownership: Family-owned Underbrink has been. 211 E. 7th Street, Suite 620, Austin, TX, 78701-3136, USA. Robert has brought to King Ranch. As the company developed its Santa Gertrudis cattle, it also engaged in the King Ranch Quarter Horse program. (832) 681-5700. By 1952 the company was sending livestock to outposts in Cuba and Australia with the hope of boosting production by introducing Santa Gertrudis genes into the mix. Succession of family members on the board has been developed with age limits implemented for older board members and 10-year term limits implemented for new family board members. President, CEO and a member of the board for 10 years, and an employee for 36 years. King's Home Board of Directors. Yarborough to take control of King Ranch's oil and gas business. The King Ranch itself covers about 825,000 acres--slightly larger than the state of Rhode Island--on four separate divisions of land in South Texas known as the "Home Ranches": Santa Gertrudis, Laureles, Norias, and Encino. 210.861.4765. benespy@icloud.com. I feel as if I have been preparing for this role my whole life and look forward to applying the knowledge and experience Ive gained over my career to the many facets that make up the King Ranch.. He negotiated a long-term lease for oil and gas rights on the entire ranch with Humble Oil and Refining Company, which later became Exxon. Meanwhile, as an outgrowth of the King Ranch Quarter Horse program, the company became involved in competition cutting--an arena event in which horses try to separate individual heifers from the herd--in the mid-1970s. Four years later he became the first president of King Ranch Oil and Gas, Inc., a new wholly owned subsidiary formed to handle all of King Ranch's petroleum affairs.
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