Aging cattle rancher, Jacob William "J. W." Ewing (Jason Robards Jr.), buries his son, a soldier who died overseas during World War II. Rival rancher Ella Connors (Jane Fonda) attends the funeral out of respect but there is tension between her and Ewing. Days later, Ewing berates Ella for selling some of her land to war veterans Frank (James Caan) and Billy Joe Meynert (Mark Harmon). He commends her for holding onto her ranch thus far, but warns she will be out of business within a year. He suggests that Ella marry him, give him her land and bare him the heir he has always wanted, but Ella refuses. Back at the Ewing's ranch, family friend Neil Atkinson (George Grizzard) suggests drilling for oil but Ewing declines as he believes he will own Ella's land within a year. With her help, he plans to rebuild the cattle ranching industry in the area. At dusk, Frank and Billy Joe camp out on their newly-acquired land, when one of Ewing's men, Emil Kroegh (James Keach), harasses them from afar and starts shooting. As Kroegh confirms they are dead, Frank grabs the man and stabs him in the stomach. The next day, Ella's ranch hand, Dodger (Richard Farnsworth), finds them and brings injured Frank to Ella's house. When Dodger informs Ella that Billy Joe is dead, she realizes Ewing was behind the attack. Feeling guilty for putting the two men in the middle of her feud with Ewing, Ella tends to Frank's injuries. The following day, Ella updates Frank on the situation. She regrets selling Frank the land and suggests that he leave town. As Frank recuperates, Ella and Dodger discuss the state of their cattle business. They keep losing money and their cattle are aging. Ella tells Dodger she will understand if he wants to move on, but he promises to stay. A few days later, Ewing visits Frank with the sheriff, informing Frank that he was behind the shooting. Ewing says he will not press charges against Frank for killing Kroegh if Frank sells his land and leaves town, but Frank rips up the check. When Frank is well enough to leave, he convinces Ella to let him stay and work on her ranch. One day, Ella and Frank catch Ewing moving his cattle across Frank's land and confront him. Ewing offers to pay Frank passage fees, but Ella warns Frank not to trust Ewing. As the men negotiate, Ella creates a stampede of cattle by charging toward them with her horse and shotgun. Although Frank helps Ewing herd his cattle, he warns Ewing not to trespass on his land again. Later, Frank berates Ella for not letting him handle his own business and Dodger suggests that Ewing is trying to sabotage their partnership. Later, Dodger catches up with Frank at a local bar and explains that Ella's father, Tom Connors, raised Ella like a son and there have been tensions between the Ewing and Connors families for years. Frank fights with two of Ewing's men, Ralph Cole (James Kline) and Julie Blocker (Jim Davis), over the death of their friend Kroegh. Later, Ella rounds up Frank's cattle as an apology and Frank encourages her to become his official business partner. Ella reluctantly agrees to try the partnership. Sometime later, Neil Atkinson, banker Virgil Hoverton and George Bascomb, a geologist with ATKO Oil Company, visit Ella, believing there is oil on her land. They want permission to test for oil and offer her a portion of the profits but Ella refuses. Meanwhile, Atkinson updates Ewing, who is happy Ella turned them down because he still believes she will sell her land to him. Atkinson informs Ewing that Ella's business has improved since partnering with Frank and reminds the rancher that his father lent Ewing a lot of money in the past; Ewing never paid back the elder Atkinson. He informs Ewing that he will proceed with oil testing on his land, and if Ewing refuses to cooperate he will seize his ranch to repay the debt. Days later, Dodger's horse is scared by oil testing explosions and throws him, causing Dodger to die. After burying their friend, Ella confesses to Frank she had an affair with Ewing when she was younger. She believes Ewing seduced her to seek revenge against her father, who won a court case against Ewing over their land. Ella believes that news of their relationship destroyed her father. A little later, Bascomb tells Atkinson and Ewing that Ella has oil on her property. Although they need Ella's permission to drill, they could drill diagonally on Ewing's land into Ella's property. Atkinson announces his plan to take over Ewing's land to protect his oil drilling business, but he offers to allow Ewing to continue cattle ranching. Furious about losing control of his empire, Ewing instructs Cole and Blocker to sabotage Ella and Frank's cattle business. One evening during a thunderstorm, the cattle pen breaks open and the herd stampedes; Frank and Ella rush into the storm and successfully round up the herd. Later, Frank and Ella begin a romantic relationship, much to Ewing's displeasure. At the end of the season, Frank and Ella negotiate a good deal to sell all of their cattle and make enough money to pay off their debts. When the local paper reports that Neil Atkinson died in an airplane accident, banker Virgil Hoverton visits Ewing and informs him the bank still plans to foreclose his land. Ewing orders Cole and Blocker to kill Virgil, then confronts Ella inside her house to give her one more chance to sell him her land. Ella says he will have to kill her before she sells. As Ewing guides Ella to Hoverton's dead body hanging in her closet, Frank unexpectedly returns home, but Ewing knocks him unconscious and throws him into the closet with a bound and gagged Ella and a dead Hoverton. Ewing pours gasoline through the house and sets it on fire; Frank, however, comes to in time to untie Ella. They escape by jumping out the window as Ewing and his men approach. A gunfight ensues, and Frank kills Cole, Blocker and Ewing. Frank and Ella watch her house burn. Sometime later in the final scene, Frank and Ella return to the ranch with fresh lumber to start rebuilding.
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