Shakespeare Oil Company, Inc

Shakespeare Oil Company, Inc. is a family owned, independent company engaging in drilling, exploration and purchase of oil and gas properties.  Shakespeare currently operates over 320 active oil and gas wells in Illinois, Indiana, Kansas, Montana, Oklahoma and Wyoming.  We also participate as non-operator in a number of wells across the United States.

MESSAGE FROM THE FOUNDER

In 1940, I was engaged in the general practice of law here in Salem, Illinois.  An oil boom had hit Salem in 1937 with the discovery of the first well in what was later to be known as the Salem Field.     Before the formation of the company, Jim McCarty, a petroleum engineer, and I, a lawyer, were employed by Ashland Oil and Refinery Company.  In 1950, Jim and I decided to start our own company.  Since neither of us had sufficient funds to do this, I contacted John Shakespeare, son of the president of the fishing tackle company of Kalamazoo, Michigan.  John agreed to partner with us and even gave us permission to use the name Shakespeare Oil Company, Inc. and the font style lettering for the company.  The company was formed in June 1950.  I bought out John Shakespeare’s interest in 1960 and following McCarty’s death in 1974, I bought out his interest as well.  In November 1961, Shakespeare diversified into the aggregate business, purchasing Covington Stone Company at Covington, Illinois.  During my time with the company we expanded our aggregate business by purchasing or opening several quarries.     As founder of Shakespeare and its subsidiary companies, I am aware that small companies like ours may anticipate problems in finding the right person to take the responsibility of running the business in the years to come.  Shakespeare has been very fortunate in this regard in that my grandson, Bryan Temple Hood, began learning the business by working at our Keyesport Sand & Gravel quarry while attending college.  You can’t make someone have the same commitment and love for the business as I have had for my work – that comes from within.  Fortunately for us Bryan has the same feelings about our company.  Someone once told me that they asked Bryan why we needed to buy more reserves, stating “We already have enough to last a lifetime.”  Bryan replied, “We may have enough for your lifetime, but I’m only 25.”  The other gentleman was in his fifties.  We are lucky to have him and we know it.  I look forward to seeing Bryan move our company into the 21st century.     We are blessed with an exceptionally well qualified and experienced group of employees.  There is too much uncertainty in the oil business.  We learned early on that you needed to have financial strength before making any other deals.  If you relied on one well to give you the money to fund the next well, you were “Whistling Dixie.”  Shakespeare Oil Company, Inc. was built on honesty and a policy of paying our bills promptly.  Shakespeare and its subsidiaries have been fortunate with what we believe to be an exceptionally talented group of people who help us operate our business with integrity.

Management

Our management team is among the best in our industry.  Shakespeare has long enjoyed a reputation of having a well-developed professional staff.  The longevity of our management team illustrates the great sense of pride and loyalty our company has developed over the years.     Beyond any initial experiences our employees bring to the company, our staff undergoes many hours of continuing training.  We also encourage participation in professional organizations which support our industry.  Giving back to the community that supports our business is an important component of our company philosophy.     If you would like to speak with any member of our team please contact our home office in Salem, Illinois.

Human Resources

The most important resource our company invests in is our employees.  We understand the importance of having a well trained and experienced workforce.     The relationships our staff has nurtured throughout our industry has been key to our success.  Developing a deep sense of pride and loyalty to our industry has fostered many long term partnerships as well as friendships.     Our family oriented style of business has perpetuated a high percentage of long serving employees within our company.  As a well-established company we are pleased to also see continual growth.  We have worked diligently to add young knowledgeable personnel to our staff.  Shakespeare has a bright future thanks to our wonderful employees.

Technology Improvements to Drive Growth It is our goal to continue to look for opportunities to grow.  In November 2003, Shakespeare Oil Company completed what would be the company’s first producing oil well in Logan County, Kansas.  This was the beginning of what has developed into a multi-year exploration program in western Kansas.  As of December 2012, Shakespeare’s efforts in western Kansas have resulted in the discovery of 13 new oil fields.     Shakespeare’s partnerships with other Kansas operators have resulted in the discovery of an additional 17 new fields.  With improving technology, including 3-D seismic, horizontal and fracturing technology to improve the drilling odds, we look forward to more rapid growth in the future.