Thomas “Toby” Darden, who watched the Barnett Shale natural gas field pioneer Quicksilver Resources slip into bankruptcy, returned to federal court this week to seek protection for ranch and energy holdings in West Texas, the Fort Worth Star-Telegram reported. Darden is seeking chapter 11 reorganization protection for four companies under the KC7 Ranch umbrella. The companies control significant assets near the oil-rich Permian Basin, including a 31,737-acre ranch in the Davis Mountain range that is already for sale for $52 million. The entities, listed as parent company KC7 Holdings, KC7 Ranch, KC7 GP and KC7 Partners, reported $50 million to $100 million in assets and $10 million to $50 million in liabilities, according to bankruptcy records. Darden initially filed for bankruptcy for the ranch Dec. 28 and the other companies on Monday.
