About This Property

Quarter Circle Lazy B Ranch

The Jewel on the face of the Big Horn Mountains

  Tucked beneath the iconic skyline of Wyoming’s Bighorn Mountains at the mouth of Little Goose Canyon lies the Quarter Circle Lazy B Ranch—a rare 1,542(+/-) acre legacy property steeped in heritage, natural beauty, and Western tradition. Handed down through four generations since the late 1800s, this ranch is more than land—it’s a living testament to over 135 years of stewardship, offering a blend of historic charm, ecological richness, and agricultural viability.

 The landscape is a sweeping canvas of rolling pastures, lush meadows, pine forests, and panoramic mountain views. Protected by one of Wyoming’s earliest Conservation Easements, this land promises enduring tranquility, privacy, and preservation. Surrounded by other conserved ranches, the vistas and open spaces remain untouched by development, ensuring a timeless Western setting.

  At the heart of the ranch are a series of thoughtfully maintained structures that reflect the property’s heritage and utility. Three character-filled homes each offer unique views and charm, while a cozy mountain cabin invites peaceful retreats. The historic stone barn—the rare, still-operational stone barn from the past is now joined by a modern barn, designed to serve today’s needs while preserving the ranch’s timeless charm.  Equestrians will appreciate the professionally designed 100' x 200' outdoor riding arena, complete with advanced drainage, lighting, tack areas, and wash bays, making year-round training and riding a reality. The facilities are a testament to the ranch's deep understanding of horsemanship and functional design.

  Wildlife thrives here. Trophy hunting opportunities include elk, moose, whitetail deer, black bear, mountain lion, and upland game birds. The ranch holds one of Wyoming’s original private game bird farm licenses, further enriching the hunting experience. Little Goose Creek offers 600 feet of premium trout stream, while four scenic mountain ponds provide habitat, recreation, and breathtaking views.

  Agriculturally, the property supports 80–95 AUMs for year-round cattle or livestock grazing, making it equally suited for ranching operations, conservation efforts, or a private family retreat. Whether your vision includes livestock, recreation, or legacy stewardship, this land is poised to deliver.

  Despite its peaceful seclusion, the ranch is conveniently close to the vibrant community of Sheridan, offering fine dining, polo, equestrian events, and a regional airport. Big Horn Schools, just 10 miles away, make the ranch ideal for both seasonal and permanent residence.

  Nearby recreational options abound, including Bear Davis Park and the Red Grade Road access into Bighorn National Forest—offering nearly one million acres of alpine trails, streams, and wilderness exploration.

  The Quarter Circle Lazy B Ranch offers not only the promise of a lifestyle but the opportunity to build a lasting legacy. Whether you envision a working ranch, conservation estate, or generational family retreat, this extraordinary property invites you to write the next chapter in its proud history!

  Contact Paul Wallop at 307.751.3580 to explore this unmatched opportunity in the heart of Wyoming’s ranching tradition. Owner is a licensed Real Estate agent in the State of Wyoming.  

History of the Quarter Circle Lazy B Ranch

In the early 1880s, a young Englishman named Oliver H. Wallop (Noll), the youngest son of a Victorian earl, left England for the American West. The youngest son of a Victorian-era earl, he settled in southern Montana, where he introduced the region’s first thoroughbred horses. By 1889, he moved south to Big Horn, Wyoming, establishing what became known as Canyon Ranch, which includes the historic Quarter Circle Lazy B. He married, raised two sons, and continued his passion for breeding horses.

In 1925, Noll unexpectedly inherited his family’s title, becoming the 8th Earl of Portsmouth. Despite his nobility, he remained devoted to his Wyoming ranch until his passing in 1942.

His son Oliver took over the reins of the ranch continuing to develop superb fishing, shooting and a nationally famous herd of Hereford cattle which carried the Quarter Circle Lazy B Brand. Among the continuing variety of famous visitors were Queen Elizabeth; Prince Phillip; the Japanese, Saudi, and British Ambassadors; and former French President Valery Giscard d’Estaing.

In 1976, Oliver’s son Malcolm was elected to the U.S. Senate, where he served for 18 years. Under his watch, the ranch continued to host prominent guests—from business icons and sports legends like John Elway to political leaders including Vice President Dan Quayle.

By the 1980s, fourth-generation Paul and Sandra Wallop began shaping the ranch’s modern era, creating a private hunt club and introducing English-style driven pheasant shoots with a Wyoming twist. A luxury lodge built in 1993 became Orvis Endorsed and was featured in Great American Fishing Lodges. Today, the lodge and surrounding homes welcome guests as premium vacation rentals.

The Wallop family has proudly preserved the Quarter Circle Lazy B Ranch since 1889—protecting its land, honoring its legacy, and sharing its unique western heritage with generations of visitors.

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Experience the Sights and Sounds of the Ranch

Quarter Circle Lazy B- Homes and Buildings

Lodge: This beautiful 3006 Sq. ft. 1 1/2 story, 2 bedroom, 4 bath log home with a sleeping loft was built in 1993. The Lodge is set in a wonderfully peaceful location just to the east of the main buildings and enjoys the full panoramic views of little Goose Canyon and Moncrieffe Ridge.

Foreman’s House: This very comfortable 1444 Sq ft, 3-bedroom, 2 bath home sets in the heart of the ranch buildings. This home is likely the oldest building on the property dating back to the turn of the 20^th century. There have been a couple of additions and was most recently updated in 2011. 

Cabin: Johnnie’s Cabin located near the back of the ranch is comfortable 1 1/4 story, retreat with 1377 Sq. ft, 2 bedrooms, sleeping loft, and 1 bath. Remote location with no electricity, propane powered 1987.

Shop: 1120 Sq ft heated mechanic’s shop with 14 ft doors, metal siding and metal roof. 1977

Barn:  A newer well-designed Morton building for horses and storing equipment and supplies. The Barn has 3140 Sq. ft, including 546 Sq. ft heated space, 1 bathroom. Six Open stalls with outdoor runs on east side. Built in 2017. Pasture includes Morton Horse pasture sheds. 

Barn: Stone barn, A beautiful historic 2 story Stone barn originally constructed for the registered Hereford herd and currently used as a horse barn and for storage. 3520 Sq. ft, 1935.

Farm Shed: The old 3-sided shop building is now used for storage. The building is 512 Sq. ft with dog kennels on south end. 1950

Scale House: 63 Sq foot. 10-ton Fairbanks Morse Scale (Licensed) 1965.