LAS VEGAS, Dec. 9 (UPI) -- The seven U.S. states bordering the Colorado River and struggling with a regional dry spell are set to meet in Las Vegas to ratify a new drought plan.

The plan would focus on conserving the region's water supply during the devastating drought, specifically Lake Powell and Lake Mead on Arizona's borders, The Arizona Republic said Sunday.

The proposed plan, which will be discussed in Las Vegas by top regional officials, will attempt to address declining water levels at the two key reservoirs and in the river itself.

Officials said that with no end of the drought in sight, the plan between Arizona, California, Colorado, Nevada, New Mexico, Utah and Wyoming could help prolong the region's water supply.

"This won't eliminate the risk of shortage, but it prolongs the period of time before we experience one," Central Arizona Project General Manager Sid Wilson said. "None of us doubt that drought is a more ominous threat than we ever realized."