HOUSTON—Jonathan Carroll, CEO and President of Blue Dolphin Energy Co. (OTC:BDCO), recently acquired additional shares of the company’s common stock, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, which took place on November 19 and November 21, 2024, involved the purchase of 17,500 shares at prices ranging from $3.23 to $3.50 per share.
These acquisitions amount to a total investment of $58,625. Following these transactions, Carroll directly owns 4,042,279 shares of Blue Dolphin Energy, while also holding an indirect interest in 8,426,456 shares through Lazarus Energy Holdings, LLC.
The transactions highlight Carroll’s continued investment in Blue Dolphin Energy, a company engaged in the crude petroleum and sector.
In other recent news, Blue Dolphin Energy Company has made significant strides in its financial and leadership structure. The crude petroleum and natural gas firm announced the appointment of Bryce D. Klug as the principal financial and accounting officer, Treasurer, and Assistant Secretary. Klug brings extensive experience from the oil and gas sector, and his appointment is part of an operational agreement with Lazarus Energy Holdings, which continues to manage Blue Dolphin’s assets and operations.
Additionally, Blue Dolphin’s subsidiaries, Lazarus Energy, and Lazarus Refining & Marketing, have secured waivers for all covenant violations related to their loan agreements for fiscal years 2021, 2022, and 2023. These waivers, granted by Veritex (NASDAQ:) Community Bank and the U.S. Department of Agriculture, waive the subsidiaries from meeting specific financial or operational metrics outlined in their loan agreements.
In other developments, Blue Dolphin has signed a new lease extension for its Houston office. The lease agreement extends the office lease for 24 months, and the rent was reduced to $29.00 per square foot for the first year and will increase back to $30.00 per square foot for the second year. The total rental area has been increased to accommodate growth in personnel.
Lastly, at its Annual Meeting of Stockholders, Blue Dolphin shareholders elected five director nominees and ratified UHY LLP as the company’s independent public accounting firm for the fiscal year ending December 31, 2024. These recent developments reflect Blue Dolphin’s continued efforts to strengthen its financial and operational structure.
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Jonathan Carroll’s recent share purchases come at a…
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