Caballo Reservoir (kuh-BEI-yo), Sierra co., SW central N.Mex., on Rio Grande, 18 mi/29 km S of Truth or Consequences (town at N end); 14 mi/23 km long, 1 mi/1.6 km wide; 32°53'N 107°17'W. Max. capacity 346,000 acre-ft. Formed by Caballo Dam (earthfill; 97 ft/30 m high, 4,590 ft/1,399 m long), built (1938) for irrigation and flood control. Caballo L. State Park on E shore at S end.