Watson Dam, located in Guide Rock, Nebraska, along TR-Elm Creek, is a privately owned earth dam designed for flood risk reduction. Completed in 1995, this dam stands at a height of 17.4 feet and has a storage capacity of 62.8 acre-feet, with a normal storage level of 8.8 acre-feet. It covers a surface area of 3.5 acres and drains a 1.15 square mile watershed area.

Managed by the Nebraska Department of Natural Resources, Watson Dam is regulated and inspected by state authorities to ensure its structural integrity and functionality. With a significant hazard potential, the dam has not been rated for its condition as of the last inspection in April 2018. While there are no associated structures or outlet gates, the dam serves a critical purpose in protecting the surrounding area from potential flood events.

As a vital infrastructure for flood risk reduction in the Webster County area, Watson Dam plays a crucial role in safeguarding communities and properties along Elm Creek. With its strategic location and design features, this dam represents a key component of the region's water resource management efforts, demonstrating the importance of proactive measures in mitigating the impacts of extreme weather events on the local environment and residents.