After hours of scouting the bone-colored badlands at Cedar Ridge Elk Ranch here, hunter David Regal took aim and fired twice from his .300 Winchester Magnum rifle. One shot killed a bull elk that weighed 700 pounds, wore a 12-point set of antlers, and cost the shooter $8,500. "I like to get the best there is," says Mr. Regal, 72 years old, who owns an excavating business in Michigan. He drove 1,100 miles here with his brother in a motor home, towing his black Hummer behind. Cedar Ridge is one of North Dakota's dozen or so private hunting ranches, enclosed by high fences and stocked with farm-raised elk and deer. Here, well-to-do hunters like Mr. Regal pay for a guaranteed shot at some of the most majestic prey in the West.