The Canadian River Municipal Water Authority board of directors verbally agreed to begin negotiations to sell Texas water rights to Oklahoma investors and users. The Amarillo Globe reported the parcel under consideration is over 11,000 acres, and located in Lipscomb County.
The fields are part of a 2011 purchase the CRMWA made with T. Boone Pickens and Mesa Water. At that time, the authority purchased 211,217 acres of water rights for $103 million. Due to the record low levels of Lake Meredith, the well field is the only water supply the CRMWA can use.
If an agreement is reached on price, the transaction would not be final until the sale is advertised and bids are taken.
