History

In October of 1921, J. G. Beard completed the No. 1 Hall oil well in Stephens County, Oklahoma, marking the beginning of what became Beard Oil Company, and ultimately, The Beard Company.

At its peak in the late 1970’s, Beard Oil Company boasted more than 2.5 million gross lease acres (1.9 million net) in 21 oil and gas producing states.  Beard Oil Company produced more than 1,250 barrels per day of oil and 7,500,000 cubic feet of gas per day, with reserve estimates exceeding 1.572 million barrels of oil and 13.0 billion cubic feet of gas.  Exploration and production efforts were supported through its wholly-owned contract drilling service, Beard Drilling Company, which owned five drilling rigs and four well servicing units, all of which operated in Oklahoma.  The Company also owned interests in 4 drilling rigs working in Wyoming and two others operating in Oklahoma through partially-owned drilling company affiliates.

All of the oil industry suffered with the decline of the domestic oil and gas industry during the early to mid-1980’s, and Beard Oil Company would have been no exception were it not for the broad vision of its managers.  In 1968, the Company started a hazardous waste management company, USPCI, Inc which was partially spun off to shareholders in 1984.  It became so successful that it listed on the New York Stock Exchange in 1986 and subsequently was sold for $396 million.  $111 million went to Beard Oil and its stockholders for their residual 28% interest, of which $58 million cash was distributed directly to Beard stockholders.  Following the sale of USPCI in 1987 the Company formed Carbonic Reserves (“Carbonics”) and diversified into the dry ice manufacturing and distribution business.  Carbonics grew and prospered, and in October 1997 was sold netting the Company approximately $20 million.

In 1989 Beard Investment Company (now The Beard Company) was formed to build new businesses which Beard management believed to have either high growth potential or better-than-average profit potential.  And with the resurgence of the domestic oil and gas industry in the latter half of the 2000’s, The Beard Company has refocused itself on what it knows best.  Its first venture back into the oil & gas industry is the revitalization of a portion of the Dilworth Field in Kay County Oklahoma, with estimated reserves of 2.8 million barrels of oil and 11.6 billion cubic feet of gas.

Following an IPO in 1974 Beard Oil shares started trading over-the-counter.  In 1981 the shares commenced trading on the American Stock Exchange.  The Company's shares traded on the AMEX® as either Beard Oil Company or The Beard Company until September 2000.  Subsequently, our shares trade on the OTC Bulletin Board under the symbol BRCO until the end of 2010.  Presently, BRCO shares are listed on the Pink Sheets.