Blue Dolphin Energy CO (BDCO) — SEC Filings

Overview

Blue Dolphin Energy CO (BDCO) is a publicly traded company tracked on ReadTheFiling. The most recent enriched filing is a 10-Q filed on Nov 14, 2025: BLUE DOLPHIN ENERGY CO (BDCO) reported a net loss of $1.1 million for the three months ended September 30, 2025, a significant increase from the $0.3 million net loss in the prior-year period. Revenue for the quarter was $1.9 million, down from $2.1 million in the same period last year, representing

Sentiment Summary

Across 24 filings, the sentiment breakdown is: 1 bullish, 3 bearish, 20 neutral. The dominant filing sentiment for Blue Dolphin Energy CO is neutral.

Filing Type Overview

Blue Dolphin Energy CO (BDCO) has filed 13 8-K, 6 10-Q, 2 DEF 14A, 2 10-K, 1 8-K/A with the SEC between Jan 2024 to Apr 2026.

Filings by Year

2026 · 2025 · 2024

Recent Filings (24)

• 8-K Filing — 8-K · Apr 2, 2026
• Blue Dolphin Swims in Red Ink, Q3 Net Loss Hits $1.1M — 10-Q · Nov 14, 2025 Risk: high
  BLUE DOLPHIN ENERGY CO (BDCO) reported a net loss of $1.1 million for the three months ended September 30, 2025, a significant increase from the $0.3 million ne
• Blue Dolphin's Q2 Loss Widens Amid Revenue Dip, Debt Concerns — 10-Q · Aug 14, 2025 Risk: high
  BLUE DOLPHIN ENERGY CO (BDCO) reported a net loss of $1.1 million for the three months ended June 30, 2025, a significant increase from the $0.3 million net los
• Blue Dolphin Energy Enters Material Definitive Agreement — 8-K · Aug 8, 2025 Risk: medium
  On August 4, 2025, Blue Dolphin Energy Company entered into a material definitive agreement, creating a direct financial obligation. The company, formerly known
• Blue Dolphin Energy Sets Annual Meeting Date — 8-K · Jul 1, 2025 Risk: low
  Blue Dolphin Energy Company announced on June 26, 2025, that it will hold its Annual Meeting of Stockholders on August 15, 2025. The meeting will include the el
• Blue Dolphin Energy Files 2024 Proxy Statement — DEF 14A · May 16, 2025 Risk: low
  Blue Dolphin Energy Company filed its definitive proxy statement on May 16, 2025, for the fiscal year ending December 31, 2024. The filing provides details rega
• Blue Dolphin Energy Co. 10-Q: Loan Default and New Equipment Financing — 10-Q · May 15, 2025 Risk: high
  Blue Dolphin Energy Co. filed its 10-Q for the period ending March 31, 2025. The company reported that its NPS Term Loan Due 2031 was in default as of March 31,
• Blue Dolphin Energy Files 8-K on Financials — 8-K · Apr 2, 2025 Risk: low
  Blue Dolphin Energy Company filed an 8-K on April 2, 2025, reporting on its results of operations and financial condition as of April 1, 2025. The filing includ
• Blue Dolphin Energy Co. Files 2024 10-K — 10-K · Apr 1, 2025 Risk: medium
  Blue Dolphin Energy Co. filed its 2024 10-K on April 1, 2025, reporting on its fiscal year ending December 31, 2024. The company's business address is 801 Travi
• Blue Dolphin Energy Files 8-K on Financials — 8-K · Nov 19, 2024 Risk: low
  Blue Dolphin Energy Company filed an 8-K on November 19, 2024, reporting events as of November 15, 2024. The filing pertains to Results of Operations and Financ
• Blue Dolphin Energy Co. Q3 2024: $1M Restricted Cash — 10-Q · Nov 14, 2024 Risk: low
  Blue Dolphin Energy Co. reported its Q3 2024 results, with restricted cash, noncurrent totaling $1.0 million as of June 30, 2024. This amount reflects funds hel
• Blue Dolphin Energy Amends Credit Agreement — 8-K · Nov 5, 2024 Risk: low
  On October 30, 2024, Blue Dolphin Energy Company entered into a Second Amendment to its Credit Agreement with Wells Fargo Bank, National Association, as adminis
• Blue Dolphin Energy Names New CEO, Director — 8-K · Sep 11, 2024 Risk: medium
  Blue Dolphin Energy Company announced on September 9, 2024, the departure of director Michael J. McGovern and the election of new director David M. Johnson. The
• Blue Dolphin Energy Files 8-K/A Amendment — 8-K/A · Aug 15, 2024 Risk: low
  Blue Dolphin Energy Company filed an amendment (8-K/A) on August 15, 2024, to its previous filing. This amendment relates to the company's Results of Operations
• Blue Dolphin Energy Co. Q2 2024: Net Loss, $1M Restricted Cash — 10-Q · Aug 14, 2024 Risk: medium
  Blue Dolphin Energy Co. reported its Q2 2024 results, showing a net loss of $0.01 per share. The company's restricted cash, noncurrent, increased to $1.0 millio
• Blue Dolphin Energy Stockholders Approve Merger With Diversified Energy — 8-K · Jul 22, 2024 Risk: medium
  Blue Dolphin Energy Company announced on July 18, 2024, that it held a special meeting of its stockholders. The primary purpose of this meeting was for sharehol
• Blue Dolphin Energy Sells Midstream Unit for $10M — 8-K · Jul 8, 2024 Risk: medium
  Blue Dolphin Energy Company announced on July 8, 2024, that it has entered into a definitive agreement to sell its wholly-owned subsidiary, Blue Dolphin Midstre
• Blue Dolphin Energy Files 2023 Proxy Statement — DEF 14A · Jun 4, 2024 Risk: low
  Blue Dolphin Energy Company filed a definitive proxy statement (DEF 14A) on June 4, 2024, for the fiscal year ending December 31, 2023. The filing pertains to t
• Blue Dolphin Energy Files 8-K on Financials — 8-K · May 16, 2024 Risk: low
  Blue Dolphin Energy Company filed an 8-K on May 16, 2024, reporting on its results of operations and financial condition. The filing includes financial statemen
• Blue Dolphin Energy Co. Files 10-Q for Q1 2024 — 10-Q · May 15, 2024 Risk: medium
  BLUE DOLPHIN ENERGY CO (BDCO) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Restricted cash, noncurrent totaled $1.0 million at March 31, 2024,
• Blue Dolphin Energy Co. Files 2023 Annual Report on Form 10-K — 10-K · Apr 1, 2024 Risk: medium
  BLUE DOLPHIN ENERGY CO (BDCO) filed a Annual Report (10-K) with the SEC on April 1, 2024. Blue Dolphin Energy Co. filed its 2023 Form 10-K on April 1, 2024. The
• Blue Dolphin Energy Confirms OTCQX Listing for Common Stock — 8-K · Jan 18, 2024
  Blue Dolphin Energy Company (BDCO) filed an 8-K on January 18, 2024, to update its registration information, specifically noting its Common Stock, par value $0.
• Blue Dolphin Energy (BDCO) Confirms OTCQX Listing on Jan 5, 2024 — 8-K · Jan 5, 2024
  Blue Dolphin Energy Company (BDCO) filed an 8-K on January 5, 2024, to report that its Common Stock, with a par value of $0.01 per share, is registered on the O
• Blue Dolphin Energy Enters Material Definitive Agreement — 8-K · Jan 4, 2024
  Blue Dolphin Energy Company filed an 8-K on January 4, 2024, to report entering into a material definitive agreement. This filing indicates a significant new co

Risk Profile

Risk Assessment: Of BDCO's 20 recent filings, 3 were flagged as high-risk, 8 as medium-risk, and 9 as low-risk. The overall risk profile suggests relatively low risk with generally favorable filings.

Financial Highlights

Key financial metrics from Blue Dolphin Energy CO's most recent 10-Q filing (Nov 14, 2025):

• Revenue: $70,355,000
• Net Income: -$1,100,000
• EPS: N/A
• Debt-to-Equity: 2.64
• Cash Position: $2,324,000
• Operating Margin: N/A
• Total Assets: $105,116,000
• Total Debt: $76,307,000

Key Executives

• Jonathan Carroll
• Michael J. McGovern
• David M. Johnson
• John Kissick

Industry Context

The energy sector, particularly refining and midstream operations, is subject to significant volatility in commodity prices and refined product demand. Companies like BDCO face intense competition and are influenced by global supply/demand dynamics, geopolitical events, and regulatory shifts. The focus on specific shale plays like the Eagle Ford means companies are also sensitive to regional production levels and infrastructure availability.

Top Tags

annual-meeting (3) · corporate-governance (3) · 8-K (3) · Energy Sector (2) · Financial Distress (2) · Eagle Ford Shale (2) · proxy-statement (2) · governance (2) · energy (2) · financial-condition (2)

Key Numbers

• Net Loss: $1.1M — Increased from $0.3M in Q3 2024, indicating worsening profitability.
• Revenue: $1.9M — Decreased from $2.1M in Q3 2024, a 9.5% decline.
• Gross Profit: $0.2M — Decreased from $0.4M in Q3 2024, reflecting lower margins.
• Crude Throughput: 1,800 bpd — Nixon refinery's daily processing volume.
• Refined Products Output: 1,700 bpd — Nixon refinery's daily production volume.
• Common Stock Outstanding: 14,921,968 — As of November 14, 2025.
• Affiliate Common Stock Ownership: 84.4% — Jonathan Carroll and LEH's combined ownership as of filing date.
• WSJ Prime Rate: 7.25% — Effective September 18, 2025, impacting variable interest debt.
• Revenue from refinery operations: $10.5 million — decreased by 13.9% from $12.2 million in prior year
• Sales volume: 148 Mbbls — decreased by 13.6% from 171 Mbbls in prior year
• Gross profit for refinery operations: $1.4 million — decreased by 17.6%
• Working capital deficit: $10.6 million — as of June 30, 2025
• WSJ Prime rate: 7.50% — decreased on December 19, 2024
• Common Stock shares outstanding: 14,921,968 — as of August 14, 2025
• Affiliate Common Stock ownership: 84% — owned by Jonathan Carroll and LEH as of filing date

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