The purpose of the dam and lake is flood control, water supply, navigation, recreation, and fish and wildlife.

The dam's spillway is located 2 mi (3 km) to the east and is composed of seven radial gates.

[3] Recreation opportunities include a swimming beach, mountain biking, marina, RV and tent camping, picnic tables and a playground.

On the east side of the lake, the Will Rogers Country Centennial Trail winds around the shore from the Spillway to Blue Creek Park totaling 18 miles.

[7] Famous American actor, philosopher, cowboy, and writer, Will Rogers, was born on the Dog Iron Ranch which now sits on the shores of Oologah Lake, where it was relocated, since the basin was dammed and flooded.