The Beard Company, Inc. filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy Court for the Western District of Oklahoma on October 12, 2012. The debtor listed its assets of $0.42 million and liabilities of $6.84 million. The largest unsecured creditors include Beard Oil Company, Kay Electric Cooperative, Inc., Cole & Reed, P.C. and Hy-Bon Engineering Company, Inc. The debtor is represented by Alexander E Hilton, II of A.E. Hilton, Esq.

as its legal counsels. G. David Bryant of Phillips Murrah, PC has been appointed as the case trustee.