Chickashanews.com

Features

February 28, 2013

Local company benefits from advent of SCOOP

CHICKASHA — There is no question that large energy companies like Continental Resources will find a lot of value in the SCOOP. It's discovery and excavation will lead to billions of barrels of oil and natural gas.

Shale deposits similar to the SCOOP have produced revenue totaling in the trillions of dollars across the country.

These deposits require companies with incredible revenue streams to mine the raw energy from beneath the ground and this action benefits small local companies like Chickasha's Steagall Oil.

President Barry Stegall said his company has already seen an influx of business in the area looking to him for lubricants that are needed to cool drill bits.

Starting in 1979, Steagall Oil has already seen one oil boom and bust, but still managed to stand the test of time.

"Most people that were as small as I was at the time didn't make it through, but with God's help and a good banker we made it through," Steagall said.

Starting with only three people, Steagall Oil has grown into a company that employs over 50 people in offices located in Chickasha and Fort Worth. The company mostly buys finished products and sells them to energy companies in need of lubricant while also purchasing propane from the energy companies and selling it to third parties.

Steagall has seen such a steady growth of his business that he may even expend into southern Texas, but doesn't know exactly how much the SCOOP will contribute to that effort.

"I am certainly not educated enough to make a guess at how much business this will bring in," he said. "I just hope companies are a little more conservative than they were in that first boom. Everybody was spending money like it wouldn't end."

Despite his company's growth, Steagall has maintained his business as one dominated by a family first mentality. His son runs the Fort Worth office, his brother is the entire company's general manager and his another brother is the company's primary lubricant engineer.

"A lot of people have stuck with me over the years," he said.

Due to the competitive nature of themarket, Steagall wouldn't elaborate on what energy companies buy lubricant from him, but he did say his company keeps enough in stock to be a major supplier for this part of the country.

"We are one of the largest lubricant suppliers to Oklahoma, Texas and other bordering states," he said.

The future seems bright for this local company as more petroleum and natural gas is pulled from the ground by various energy organizations,

Steagall said he could see the possibility of continued expansion.

"I'm 71-years-old. I'm tired, but the younger people are definitely looking into it," he said.

1
Text Only
Features
  • image-3.jpg Girl Scout donates to Locks of Love

    Six-year-old Madison Dunn donated her long hair to Locks of Love when she learned that some children don't have hair.

    July 22, 2014 1 Photo

  • Hospitals let patients schedule ER visits

    Three times within a week, 34-year-old Michael Granillo went to the emergency room at Northridge Hospital Medical Center in Los Angeles because of intense back pain. Each time, Granillo, who didn't have insurance, stayed for less than an hour before leaving without being seen by a doctor.

    July 22, 2014

  • Malaysians wonder 'Why us?' after second loss of airline jet

    It was all too familiar. Grieving families rushing to airport. The flashing television graphics of a plane's last radar appearance. The uncomfortable officials before a heavy thicket of microphones.
    For many Malaysians, the disappearance of Flight 370 in March has been a long trauma from which the nation has not yet recovered.

    July 21, 2014

  • H@TG4ES-1.jpg Howling at the Gates:

    The web comic, "Howling at the Gates" begins when mad scientist Hypatia tells her boyfriend Grant that she plans to kidnap Pythagorus with her time machine.

    July 19, 2014 2 Photos

  • Survey shows colleges flouting sexual assault rules

    More than 40 percent of 440 colleges and universities surveyed by Sen. Claire McCaskill, D-Mo., haven't investigated a sexual assault in the past five years, according to a report released Wednesday.

    July 16, 2014

  • Are America's biggest alcohol brands targeting the country's underage youth?

    Underage drinkers - those between the ages of 18 and 20, most specifically - are more heavily exposed to printed alcohol advertisements than any other age group, according to a new study. And it's America's biggest booze companies that could be to blame.

    July 15, 2014

  • Can plants hear? Study finds that vibrations prompt some to boost their defenses

    They have no specialized structure to perceive sound as we do, but a new study has found that plants can discern the sound of predators through tiny vibrations of their leaves - and beef up their defenses in response.

    July 8, 2014

  • DSCF1770.JPG The sonogram fairy

    Walking into Bubbie's Bebes is like walking into a corner of Neverland.

    July 3, 2014 1 Photo

  • 20140625-AMX-HEALTH-EXERCISE252.jpg Fitness program caters to people with developmental disabilities

    Spirit - which stands for "Social Physical Interactive Respectful Inclusive Teamwork" - offers classes that help clients with developmental disabilities build muscle, increase flexibility and improve their diets. As a population, they have limited opportunities when it comes to health, Smith says. "And a lot need more social interaction," he adds.

    June 25, 2014 1 Photo

  • DSCF1598.JPG Verden Separate School featured as best in country

    When Allen Toles built a secret school where African American children could learn to read and write, he probably never thought that–some 100 years later–it would be on YouTube. 

    June 25, 2014 1 Photo