Blue Dolphin is primarily an independent refiner and marketer of petroleum
products. Our primary asset is a 15,000-bpd crude oil and condensate processing
facility that is in Nixon, Texas (the “Nixon Facility”). As part
of our refinery business segment, we also conduct petroleum storage and terminaling
operations under third-party lease agreements at the Nixon Facility. Under our
pipeline transportation business segment, we own pipeline assets and have leasehold
interests in oil and gas wells.
We were formed as a Delaware corporation in 1986. We are currently controlled
by Lazarus Energy Holdings, LLC (“LEH”), which owns approximately
81% of our common stock, par value $0.01 per share (the “Common Stock).
LEH manages and operates all our properties pursuant to an Operating Agreement
(the “Operating Agreement”). Jonathan Carroll is Chairman of the
Board of Directors (the “Board”), Chief Executive Officer and President
of Blue Dolphin, as well as a majority owner of LEH. (See “Part II, Item
8. Financial Statements and Supplementary Data– Note (8) Related Party
Transactions,” “Note (10) Long-Term Debt, Net,” and “Note
(20) Commitments and Contingencies – Financing Agreements” and “Part
III, Item 13. Certain Relationships and Related Transactions, and Director Independence
– Related Party Transactions” for additional disclosures related
to LEH, the Operating Agreement, and Jonathan Carroll.)
Our operations are conducted through the following active subsidiaries:
Lazarus Energy, LLC, a Delaware limited liability company (“LE”).
Lazarus Refining & Marketing, LLC, a Delaware limited liability company
(“LRM”).
Blue Dolphin Pipe Line Company, a Delaware corporation.
Blue Dolphin Petroleum Company, a Delaware corporation.
Blue Dolphin Services Co., a Texas corporation.
The Nixon Facility, which is located on a 56-acre site in Nixon, Texas, has
aggregate crude oil throughput capacity of 15,000 bpd. The Nixon Facility consists
of a distillation unit, naphtha stabilizer unit, depropanizer unit, and related
loading and unloading facilities and utilities. At December 31, 2016, the refinery
had approximately 842,000 bbls of crude oil, condensate, and refined petroleum
product storage capacity in 27 tanks. We are currently constructing an additional
256,000 bbls of petroleum storage capacity at the site. When construction is
complete, total crude oil, condensate, and refined petroleum product storage
capacity at the Nixon Facility will exceed 1,000,000 bbls.
The Nixon Facility’s product slate can be adjusted based on market demand.
We currently produce two finished products – jet fuel and low-sulfur diesel.
We produce several intermediate products, including LPG, naphtha, HOBM, and
AGO.
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