Energy Chief Buys Ranch for $41.5 Million Discount

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In a crowded field of real estate-addicted billionaires, Texas energy baron Kelcy Warren is moving into elite company.

The latest addition to the Energy Transfer c.e.o.'s collection is BootJack Ranch, a 3,100-acre spread of mountains and pristine lakes in Colorado. Bootjack originally went on the market in 2008, priced at a much-discussed $88 million.

In 2009 the price was dropped to $68 million, although listing agent Bill Fandel of Peaks Real Estate Sotheby's International Realty in Telluride hinted that a "high net worth individual" from Dallas was interested.

If that was Warren, he is a patient buyer--he reportedly paid $46.5 million for the ranch.

Bootjack will make a nice addition to Warren's portfolio, which also includes a $30 million spread in Dallas in the same Park Lane neighborhood as former President George Bush and Mavericks owner Mark Cuban. He also owns a $50 million ranch on the Rio Grande River and a spread on the Honduras island of Roatan, according to Forbes.

If nothing else, Warren is a bargain hunter. In 2007 he bought the Lajitas Golf Resort & Spa in west Texas out of bankruptcy for $13.5 million. And he shaved $15 million from the asking price on the Dallas property, Forbes reports.

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