Water Asset Valuations

M&A examined the costs and other factors associated with Colorado River water rights, Central Arizona Project (CAP) supplies, long-term storage credits (LTSCs), and groundwater rights.


A private water company was interested in evaluating major water supply investments in Arizona; specifically, this client wanted to focus on long-term investments to boost its water supply portfolio.


  • Worked with the client to develop mutually agreed-upon criteria for identifying the characteristics that are most and least desirable in a water supply
  • Evaluated Colorado River mainstream surface water rights, CAP supplies, LTSCs, and groundwater rights
  • Identified uncertainty and risk factors
  • For each supply type, identified the physical location and quantity and rated the legal and regulatory obstacles, market activity, long-term value, and environmental considerations