High school seniors and best friends, Sonny and Duane, live in a dying Texas town. The handsome Duane is dating a local beauty, while Sonny is having an affair with the coach's wife. As graduation nears and both boys contemplate their futures, Duane eyes the army and Sonny takes over a local business. Each struggles to figure out if he can escape this dead-end town and build a better life somewhere else.

Summer, 1984: 30 years after Duane captained the high school football team and Jacy was homecoming queen, this Texas town near Wichita Falls prepares for its centennial. Oil prices are down, banks are failing, and Duane's $12 million in debt. His wife Karla drinks too much, his children are always in trouble, and he tom-cats around with the wives of friends. Jacy's back in town, after a mildly successful acting career, life in Italy, and the death of her son. Folks assume Duane and Jacy will resume their high school romance. And Sonny is "tired in his mind," causing worries for his safety. Can these friends find equilibrium in middle age?