Yes, except for some very bad deals allowing great tracts of land to be sold and leased at below-market rates to Saudi companies without charging or monitoring water use. They grow forage crops like alfalfa that are banned or restricted in Saudi because of excessive water requirements, and ship the crops back to their cattle there. It has made neighbors' wells run dry. They are effectively taking the water from the aquifer and shipping back to Saudi. For free. One of many articles here [0] (guess which political party made the deals).
[0] https://www.pbs.org/newshour/politics/in-drought-stricken-ar...