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Contact:
Jay Rosser -
OFFICE: 214.265.4165 CELL:316.208.7982
- 4/21/2005
Boone Pickens stated today that Mesa Water would follow through on its recently announced plans to purchase water rights in Roberts, Gray, and Hemphill Counties.
Commenting on announced purchases by Canadian River Municipal Water Authority, Mr. Pickens said: “CRMWA’s and Mesa Water’s combined purchases are exactly what Mesa has had in mind to create value for area water rights. This is great for the ranchers to have two buyers for their water rights.
“We bought 70,000 acres two years ago, and we are buying another 100,000 acres now,” Pickens added. “Combined with my 30,000 acre ranch, that puts our total ownership at 200,000. The combination of CRMWA’s purchases and our purchases has brought almost $75 million – $100 million to Roberts County ranchers. This is a win-win for the area economy and the ranchers, which will enable many of them to sustain their family ranches for many years into the future.”
Mr. Pickens further stated that “we have always emphasized that water is abundant in this four-county area, and there is plenty of water for CRMWA’s purposes and for our purposes. There are many landowners who still want to sell water. I personally hope that CRMWA will continue to buy water as long as they can afford to do so. It is much fairer to the ranchers to be paid for their water than to be trapped with no use for their water and no buyer.”
Mesa spokesman, Jay Rosser, said Mesa Water has met its minimum purchase requirements and will now purchase all water offered by its offeree group. Mesa Water has given its offer group a choice of selling either 100 percent of their water at 110 percent of CRMWA’s price (CRMWA’s price is about $350 per surface acre) or an undivided one-half interest in their water at prices valuing the water at an average of about $450 per surface acre.
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