Yes, bigtime water diversion there. Two canals bleed water from the Kings River, while San Joaquin River water tunnels underneath on its way south. Google map
Interesting trivia: Before water from the Kings River was diverted for irrigation of the San Joaquin Valley desert, it fed Tulare Lake, which is now dry farmland. Before the diversion, Tulare Lake apparently was the largest freshwater lake on the western side of the continent.
Second interesting trivia: Looking up Rio de los Santos Reyes, I stumbled upon this incredible kayak trip report. These guys kayaked from the Kings River headwaters to Pine Flat reservoir. Take a peek at their pictures. The Next Big Idea: Rio de los Santos Reyes
Edit: More funny stuff: Years ago, I was talking with a couple who were new to the valley area. They mentioned that for fun, they were going to go check out Tulare Lake. I'd not heard of the lake then, so I asked them about it, and they showed me where it was on a road map. Apparently in very wet years, it does reappear when all the Kings River water cannot be stored behind dams. I told them I was pretty sure all they would find was swampy farm land.
...in fact, check it out: Google Map All green farmland, at least 15 miles across, and not a single building on any of it.