Buying and Selling Water Rights in Montana: What's Working and What's Not?
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This document discusses water rights and water markets in Montana. It notes that water rights need to be clearly defined but are complex due to interdependencies between surface and groundwater. Water markets in Montana are working to some degree, with over 25,000 acre-feet of water brokered and various water rights transfers approved. However, barriers still exist like regulatory uncertainty and costly transfer processes. The document advocates for improved transparency, information sharing, and market expertise to further develop water markets in Montana.
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Buying and Selling Water Rights in Montana: What's Working and What's Not?
- 1. Buying and Selling Water in Montana Chris Corbin
- 2. water resource management montana water trust chairman bitterroot water forum MBA wr specialist consultant, freelance marketer, entrepreneur Chris Corbin moose drool
- 3. business acumen water ingenuity Differentiation
- 5. Working and Not Working What is…
- 6. Every shovel has two sides.
- 8. 1. Clearly defined water rights
- 9. Not Working
- 11. Water is Complex
- 12. Never trust a water right.
- 14. Adjudication decrees flow rates and the market trades volumes.
- 15. Historical water user has passed away or…
- 16. moved away or..
- 17. aren’t measuring their water use.
- 18. Market opportunities will lead to greater water stewardship.
- 19. Standards will create market efficiency.
- 20. 2. Physical supply and demand
- 21. Working
- 22. “The West is the fastest growing part of the country. It is also the driest.” - National Geographic Magazine
- 28. Ravalli County
- 29. Agricultural
- 30. Environmental
- 31. Urban
- 32. Gallatin County
- 33. Agricultural
- 34. Environmental
- 35. Urban
- 36. Missoula County
- 37. Agricultural
- 38. Environmental
- 39. Urban
- 40. 169,886 irrigated acres USDA, Economic Research Service (2009)
- 41. 297 miles of blue and red ribbon streams 226 miles of dewatered streams Montana FWP, 2009
- 42. 59% growth since 1990 Montana Cenus” US Census Montana Census. (2009) 6 April 2009 http://www.census.gov/
- 45. Working
- 48. 21 Brokered over 25,000 acre-feet
- 49. Basin Closure and Mitigation
- 50. more valid water right claims than water is available . . . over appropriated
- 53. Future water demand will be met or mitigated by existing water rights.
- 54. private water marketing law?
- 55. Instream flow transactions 1987-2007 Scarborough, Brandon. Environmental Water Markets Restoring Streams Through Trade. Publication. Vol. 46. Bozeman, MT: PERC, 2010. Print. PERC Policy Ser.
- 56. Private involvement drive water markets.
- 57. 4. Transferability of rights
- 58. Not Working
- 59. Transferability is critical to reallocate water rights to meet new and growing demands.
- 60. regulatory uncertainty Barriers to trade costly transfer process
- 61. 3 of 45 applications approved HB831 applications approved as of 01/14/10. Data provided by Terri McLaughlin, DNRC
- 62. 22 approvals 2-10 month turn 14 correct and complete upon receipt HB 40 applications 7/09 - 7/10 Data provided by Terri McLaughlin, DNRC
- 64. 5. Enforcement of rights
- 65. Not Working
- 67. 6.Easy flow of information
- 68. Not Working
- 69. Average Lease Prices 2003-2008 0 5 10 15 20 25 30 35 40 45 2002 2003 2004 2005 2006 2007 2008 2009 Year Price ($/AF) All prices based on Lotic LLC’s comparable sales database.
- 70. Lease Prices 2008 $0.41 $64.16 All prices based on Lotic LLC’s comparable sales database.
- 71. Sale Prices 2003-2008 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 2002 2003 2004 2005 2006 2007 2008 2009 Year Price ($/AF) All prices based on Lotic LLC’s comparable sales database.
- 72. Sale Prices 2008 $133 $7,000 All prices based on Lotic LLC’s comparable sales database.
- 73. 7. Market Expertise (Education)
- 74. Not Working
- 75. Water runs with the land?
- 76. First documented Montana Water Rights Transfer: 1895
- 78. 8. Water Market
- 79. Working
- 80. Big Sky Brewing Company
- 82. Photo courtesy of the Montana Water Trust Dewatered stream
- 83. Photo courtesy of the Montana Water Trust Restored stream flow
- 84. Water in Beer = Water in Stream
- 85. 4 million gallons of water restored
- 87. Grass Valley French Ditch Company Roots
- 88. Missoula: 1901
- 89. Missoula: Now
- 90. Missoula
- 91. Urban
- 92. Grass Valley French Ditch Co.
- 93. Grass Valley French Ditch Co.
- 94. 20% reduction in revenue
- 95. A Shares B Shares Restructured Shares 20% 80%
- 96. A Shares B Shares Current Purpose of Use irrigation and stock ?
- 97. A Shares B Shares Current Purpose of Use: Irrigation and Stock irrigation and stock ?
- 98. A Shares B Shares Future Purpose of Use: Marketing irrigation and stock mitigation
- 99. Reinvest in irrigation infrastructure
- 100. Grass Valley French Ditch Company Roots