Exhibit 21

                                  Subsidiaries
                                of the Registrant


The  following  is a  list  of the  Company's  consolidated  subsidiaries  as of
December 31, 2002:

                                                                   Percent of
                                                 State or            Voting
                                                Country of         Securities
                     Subsidiary                Organization           Owned
                     ----------                ------------           -----

The Beard Company (1)                            Oklahoma          Registrant
Beard Environmental Engineering, L.L.C.          Oklahoma             100%
Beard Leasing Company                            Delaware             100%
Beard Oil Company                                Delaware             100%
Beard Sino-American Resources Co., Inc.          Oklahoma             100%
Beard Technologies, Inc.                         Oklahoma             100%
Beijing Beard Bio-Tech Engineering Co., Ltd.      China               100%
Incorporated Tank Systems (2)                    Delaware              49%
Incorporated Tank Systems de Mexico,
    S.A. de C.V.                                  Mexico              100%
Interstate Travel Facilities, Inc.               Oklahoma             100%
ISITOP, Inc.                                     Oklahoma              80%
ITS, Inc.                                        Oklahoma             100%
starpay, com, l.l.c.                             Oklahoma              71%


(1)  The  consolidated  financial  statements of the Company include accounts of
     Registrant and the subsidiaries controlled by the Registrant.

(2)  Owns 100% of ITS, Inc. which in turn owns 100% of Incorporated Tank Systems
     de Mexico, S.A. de C.V.

(3)  Excludes 80%-owned Cibola  Corporation.  Registrant does not have operating
     or financial control of this subsidiary.

(4)  Also excludes 50%-owned ITS-TESTCO, L.L.C. and TESTCO, INC. de MEXICO, S.A.
     de C.V.  Registrant does not have operating and financial  control of these
     subsidiaries.

(5)  Excludes those subsidiaries treated as equity investments.

(6)  Excludes  subsidiaries  which,  considered  in the  aggregate  as a  single
     subsidiary,  would not constitute a significant subsidiary as of the end of
     the year covered by this report.