Climate change significantly impacts agriculture and forage production, requiring the implementation of strategies toward increased water and energy use efficiency. So, this study investigated the yield of forage cactus (Opuntia stricta (Haw.) Haw) under different irrigation depths using brackish groundwater (1.7 dS m−1), whose management was based on reference evapotranspiration (ETo) estimated by the Hargreave–Samani (HS) and Penman–Monteith (PM) equations. The research was conducted in Independência, Ceará, Brazil, under the tropical semi-arid climate. A randomized block design in a 2 × 5 factorial scheme was employed, varying the ET0 estimation equations (HS and PM) and irrigation levels (0; 20; 40; 70; and 100% of total required irrigation—TRI). Growth, productivity, and water use efficiency variables were evaluated at 6, 12, and 18 months after treatment initiation. The economic analysis focused on added value, farmer income, and social reproduction level. The results showed no isolated effect of the equations or their interaction with irrigation depths on the analyzed variables, suggesting that irrigation management can be effectively performed using the simpler HS equation. Furthermore, there was no statistical difference between the means of 100% and 70% TRI as well as between 70% and 40% TRI for most variables. This indicates satisfactory crop yield under deficit irrigation. Dry matter productivity and farmer income at 12 months resulting from complementary irrigation with depths between 40% and 70% of TRI were significantly higher than under rainfed conditions. The 70% depth resulted in yields equivalent to those at 100% TRI, with the social reproduction level being achieved on 0.65 hectares in the second year.