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To: Frank Sully who wrote (68159)	7/23/2021 2:19:17 AM
From: Frank Sully	Read Replies (1) \| Respond to of 78958

J.G. Boswell Water Assets As I mentioned in a previous SA article, J.G. Boswell has the rights to approximately 400,000 acre-feet of water to go along with the 150,000 acres of land. This was noted in the King of California, and also in an April 11th, 2000, article in the Wall Street Journal (quoted below): The arrangement with Boswell gives Azurix a partner with access to 400,000 acre feet of water each year. (An acre foot is 325,000 gallons, or enough water to meet the needs of two urban families for a year.) It also gives it a marquee partner since Boswell, by some calculations, is the biggest farmer in America with more than 150,000 acres under cultivation, most of it growing premium Pima cotton in California's 240-mile-long San Joaquin Valley. [...] Mr. Boswell says it's clear that, at times, a farmer could make more money selling a water option than growing a crop. "I want an alternative to cotton at 50 cents a pound when it costs 80 cents a pound to grow it," Recent Water Sales Indicate That J.G. Boswell is Selling up to 100,000 Acre-Feet of Water in 2020 The sale or transfer of water from one water district to another requires state water board approval in California. These records can be viewed on the California Environmental Quality Assurance website. In reviewing recent water sales, it appears that Boswell has requested approval for two significant water sales in 2020, one for 35,000 acre-feet to the Kern Water Authority, and another for 65,000 acre-feet to growers in the Westlands Water District. The above is from a 2020 Seeking Alpha article by my friend James Duade. James estimated that BWEL sold the water for about $90 million. BTW, several authors, including James, have estimated the value of BWEL’s water rights in the billions!