It provides municipal and industrial water to the cities of Snyder, Altus, and Frederick,[2] as well as the Hackberry Flat Wildlife Management Area.

This dam and the rolled earth East and West Dike embankments, which extend 10,311 and 13,235 feet (3143 and 4034 m), respectively, form the Tom Steed Reservoir.

Public recreation facilities on the east side include shelters, tables, grills, a comfort station, a boat launching ramp, and a swimming beach.

The Oklahoma Department of Wildlife Conservation administers 5,150 acres (21 km²) of the west and north side of the reservoir area.

The reservoir is one of the best fishing areas in southwest Oklahoma, offering catfish, crappie, largemouth black bass, and other varieties.