Nevada has some pretty grazer-friendly laws. They have just been ignored by the feds for a long time.
I believe Nevada grazing law recognizes the need for water to exercise your right to graze - so I believe water is included in the grazing easements.
It is the water rights that are 'titled' on public land. If you have the water rights, you also own grazing rights on enough land to utilize the water.
Strange proposition for an Easterner, but it comes from Spanish law that was in place when the Hidalgo Treaty was signed, and remains so until today.
By law, it cannot be changed, but Agenda 21 and our Progressive Gov't will eventually eliminate all of the rights holders, resulting in the end of Western ranching.