Federal border agents on Saturday thwarted a drug smuggling attempt in southern Texas near the border of Mexico.

U.S. Border Patrol agents from the Laredo North Station spotted a blue SUV being load with what they suspected was bundles of narcotics sometime in the afternoon, CBP said in a press release.

U.S. Customs and Border Protection say they found 370 lbs. worth of marijuana in a submerged vehicle in the Rio Grande River on Saturday.

U.S. Customs and Border Protection say they found 370 lbs. worth of marijuana in a submerged vehicle in the Rio Grande River on Saturday. (CBP)

The agents attempted to stop the vehicle near the entrance of a ranch, but the driver failed to yield, leading the agents on a chase, according to CBP.

CBP Air and Marine Operations maintained visual of the vehicle from the air as it continued toward the Rio Grande River.

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The driver then drove the SUV into the water and fled into Mexico, CBP said. Agents with Laredo Sector Marine Operations recovered five bundles of marijuana from the submerged vehicle.

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The narcotics reportedly weighed around 370 lbs. and had a value of nearly $300,000. The agents turned the narcotics over to the Drug Enforcement Administration and the SUV was recovered from the river.