Past year: ▲ 895%(1.17 – 13.30 USD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Feb 2017material agreement termination▲ GoodMajor
Blue Dolphin's pipeline subsidiary sold about 15 acres of Freeport land to a Freeport LNG affiliate for $539,000 and received $1.3 million to fully buy out its remaining annual easement payments, ending the related LNG joint-venture exploration.
19 Aug 2016debt financing▼ BadMajor
Blue Dolphin's pipeline subsidiary borrowed $4.0 million from controlling shareholder Lazarus Energy Holdings at 16% interest for working capital, secured by Freeport land and FLNG easement payments.
10 Dec 2015material agreement▲ GoodMajor
Lazarus Refining & Marketing took out a second USDA-guaranteed loan, $10 million from Sovereign Bank, to build more Nixon storage tanks and refinance a $3 million bridge loan.
26 June 2015material agreement▲ GoodMajor
Lazarus Energy secured a new $25 million, 19-year USDA-guaranteed term loan from Sovereign Bank to expand the Nixon refinery and refinance $8.5 million owed to another bank; Blue Dolphin and CEO Jonathan Carroll personally guaranteed the debt.
31 Mar 2015material agreement● Neutral
Lazarus Refining & Marketing modified its 2014 $2.0 million loan from Sovereign Bank, adjusting the interest rate and extending maturity to March 2017.
7 Jan 2015listing compliance notice● Neutral
Blue Dolphin briefly fell out of compliance with OTCQX's rule requiring prepayment of annual listing fees, curing the deficiency before this report was filed.
5 Nov 2014material agreement▲ Good
Blue Dolphin's pipeline subsidiary received a second $250,000 payment from FLNG Land II under a 2013 easement deal near Freeport, Texas, triggering $500,000 annual payments for at least five years, while the companies began studying a joint LNG venture.
16 May 2014material agreement● Neutral
Blue Dolphin, Lazarus Energy and Lazarus Energy Holdings extended their February 2012 management agreement (renamed the "Operating Agreement") governing LEH's operation of the Nixon refinery through at least August 2015.
5 Nov 2013material agreement● Neutral
Lazarus Energy extended its 2011 crude-marketing and construction agreements with GEL Tex Marketing and Milam Services through 2019 in exchange for GEL advancing up to $187,000 for Nixon refinery equipment.
6 Mar 2013asset acquisition disposition● Neutral
Blue Dolphin completed the sale of its Langsa Field interest to Blue Sky, receiving 150,000 escrowed Blue Dolphin shares as full payment and exiting its last international E&P asset.
8 Feb 2013listing compliance notice● Neutral
Blue Dolphin briefly fell out of compliance with OTCQX's annual-fee rule (cured before filing) and formed a special board committee to study converting the company into a publicly traded master limited partnership.
13 Nov 2012material agreement▲ Good
Blue Dolphin's exploration subsidiary agreed to sell its 7% working interest in the Langsa Field offshore Indonesia, acquired non-cash in 2010, to Blue Sky Langsa for up to $1.0 million cash or 150,000 escrowed Blue Dolphin shares.
14 June 2012material agreement● Neutral
Blue Dolphin paid its new controlling shareholder, Lazarus Energy Holdings, $100,000 for a 180-day option to acquire an idled refinery in Ingleside, Texas, pending environmental remediation and negotiated terms.
13 Apr 2012listing compliance notice● NeutralMajor
BLUE DOLPHIN ENERGY CO's exchange filed to remove a class of its securities from listing.
14 Mar 2012business combination● NeutralMajor
This amended filing restates the Feb 2012 closing of the Lazarus deal: Blue Dolphin acquired Lazarus Energy, LLC (owner of the 56-acre Nixon refinery) from Lazarus Energy Holdings (LEH) for 8,393,560 shares plus 32,896 anti-dilution shares, leaving LEH with 80% of the common stock and control of the company. LEH will manage the refinery and Blue Dolphin's other operations under a Management Agreement, and Jonathan Carroll became CEO and President while Ivar Siem stayed on as Chairman. Blue Dolphin also paid a $183,421 deposit toward buying LEH's affiliate Lazarus Energy Development (about 46 acres next to the refinery) for roughly $1.68 million, including assuming a $1.5 million loan. This turns Blue Dolphin from a small pipeline and oil-and-gas company into a refiner controlled by LEH, diluting prior shareholders to 20%.
28 Feb 2012listing compliance notice▼ BadMajor
Nasdaq delisted Blue Dolphin effective February 28, 2012, ruling its just-completed Lazarus Energy acquisition was a "Business Combination" requiring a fresh listing application; shares began trading on the OTCQX market the same day.
21 Feb 2012business combination● NeutralMajor
Blue Dolphin completed its acquisition of Lazarus Energy, LLC (owner of the Nixon refinery) on February 15, 2012, issuing about 8.43 million shares that gave Lazarus Energy Holdings 80% ownership and control of Blue Dolphin's board and management.
6 Jan 2012listing compliance notice▼ BadMajor
Nasdaq moved to delist Blue Dolphin for failing to hold its 2011 annual meeting on time, a delay the company tied to negotiations over the pending Lazarus Energy acquisition; the meeting was rescheduled for January 27, 2012.
31 Aug 2011listing compliance notice▲ GoodMajor
A Nasdaq panel restored Blue Dolphin's Nasdaq Capital Market listing after it cured its stockholders'-equity deficiency; trading resumed September 1, 2011 under one year of continued monitoring.
9 Aug 2011asset acquisition disposition▲ GoodMajor
Blue Dolphin sold its 83⅓% stake in the onshore Buccaneer Pipeline, storage tanks and barge terminal to Sunoco Partners for about $3.6 million cash, shedding underutilized assets ahead of the pending Lazarus deal.
22 July 2011material agreement● NeutralMajor
Blue Dolphin agreed to acquire 100% of Lazarus Energy, LLC, owner of the Nixon, Texas crude-processing facility, from Lazarus Energy Holdings in an all-stock deal that would give Lazarus 80% of Blue Dolphin's shares and control of the company.
13 June 2011listing compliance notice▼ BadMajor
A Nasdaq panel rejected Blue Dolphin's equity-compliance plan and delisted its stock effective June 13, 2011; trading moved to the OTCQB market under the same BDCO symbol.
3 June 2011listing compliance notice▼ BadMajor
Blue Dolphin again fell below Nasdaq's $2.5 million stockholders'-equity minimum and submitted a new compliance plan to the Hearings Panel.
26 May 2010listing compliance notice▼ BadMajor
A Nasdaq panel approved Blue Dolphin's plan to cure its bid-price deficiency and extended its listing to August 2010, but the company disclosed a separate failure to meet Nasdaq's $2.5 million minimum stockholders'-equity requirement.
22 Mar 2010listing compliance notice▼ BadMajor
Nasdaq moved to delist Blue Dolphin for still failing the minimum bid price rule; the company said it would appeal to a Nasdaq Hearings Panel to stay the delisting.
11 Jan 2010material agreement termination▼ BadMajor
Blue Dolphin's option to acquire Lazarus's Nixon and Louisiana terminal assets lapsed after the two sides could not agree on a definitive purchase agreement.
18 Sept 2009listing compliance notice▼ Bad
Blue Dolphin's stock again closed below Nasdaq's $1.00 minimum bid price for 30 days, giving it until March 2010 to regain compliance.
6 Aug 2009material agreement● NeutralMajor
Blue Dolphin loaned $2 million to a Lazarus Energy Holdings affiliate in exchange for an option to acquire a Nixon, Texas crude-oil topping unit and a Louisiana barge terminal by issuing Lazarus 47.1 million shares, a deal that would hand Lazarus control of the company.
11 July 2006auditor change● Neutral
Auditor UHY Mann Frankfort Stein & Lipp resigned after its partners joined UHY LLP, which Blue Dolphin retained as its new independent accountant; the prior auditor's report had flagged substantial doubt about the company's ability to continue as a going concern.
1 May 2006capital raising announcement● NeutralMajor
On April 28, 2006 Blue Dolphin sold 400,000 new shares to an institutional investor at $4.90 each (80% of the 20-day average price), raising $1.96 million (about $1.8 million after costs), plus 24,000 placement-agent warrants. This is a second private placement within two months, at a price well above the $1.75 paid in March 2006; the proceeds are for acquisitions, facility expansions and working capital. It adds to the share count, and the shares and warrants must be registered by May 15, 2006.
What it means for a shareholder
400,000 new shares at US$4.90 to raise about US$2.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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