ABILENE, Texas -

Billionaire oilman Trevor Rees-Jones is the new owner of Hendrick River Ranch, located about 50 miles north of Abilene.

In February, it was announced that the 42,000-acre ranch had been sold, but Rees-Jones disclosed his identity as the buyer this month.

Hendrick River Ranch was also known for the Hendrick Home for Children Ranch, founded in 1939.

The land covers about 70 percent of where the city of Abilene hopes to build the future Cedar Ridge Reservoir. It stretches across Throckmorton, Haskell and Shackelford counties.