[5][6] Built and managed by the U.S. Army Corps of Engineers, it is used for flood control, recreation, and water supply.

[7] The U.S. Army Corps of Engineers held groundbreaking ceremonies in September 1973, and construction began the following month.

The dams of both reservoirs were breached during the building of the larger El Dorado Lake and their waters subsequently inundated.

[7] The remnants of Bluestem Lake's dam are still visible in the Shady Creek arm of the present-day reservoir.

[6] The Kansas Turnpike (Interstate 35) runs northeast-southwest across the northern end of the lake and then parallel to its northwestern shore.

In terms of capacity, the Corps of Engineers vertically divides the reservoir into a set of pools based on volume and water level, and the reservoir is considered full when filled to the capacity of its conservation pool.

[12] The Corps has licensed the Kansas Department of Wildlife, Parks and Tourism (KDWP) to develop and manage approximately 4,000 acres (16 km2) of land around the reservoir as El Dorado State Park and another 4,000 acres (16 km2) of land as the El Dorado Wildlife Area.

[2] Game animals living on land around the reservoir include beavers, bobcats, coyotes, deer, doves, pheasants, prairie chickens, quail, rabbits, raccoons, squirrels, and turkeys.