Abstract Extractivism in Latin America is complex and triggers interdisciplinary debates, particularly on water conflicts. Despite previous works, the role played by framed values remains unclear. How do agents' ontologies affect water conflict outcomes and vice versa? This text focuses on the Pampa Colorada case in Chile. It analyses agents' framings, collected through organizational documents and 24 semi‐structured in‐depth field interviews. The main finding is that ontological differences between agents exist, but struggles can lead to vocabulary and narrative appropriations.