Following these acquisitions, Carroll now directly owns 4,058,779 shares of Blue Dolphin Energy. Additionally, he holds an indirect interest in 8,426,456 shares through Lazarus Energy Holdings, LLC. This move underscores Carroll's ongoing commitment and belief in the company's potential growth. While the company remains profitable with a return on equity of 12%, InvestingPro analysis reveals several additional key metrics and insights available to subscribers, including Fair Value estimates and detailed financial health scores. While the company remains profitable with a return on equity of 12%, InvestingPro analysis reveals several additional key metrics and insights available to subscribers, including Fair Value estimates and detailed financial health scores.
Following these acquisitions, Carroll now directly owns 4,058,779 shares of Blue Dolphin Energy. Additionally, he holds an indirect interest in 8,426,456 shares through Lazarus Energy Holdings, LLC. This move underscores Carroll's ongoing commitment and belief in the company's potential growth.
In other recent news, Blue Dolphin Energy Company has made noteworthy 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, who brings extensive experience from the oil and gas sector, will extend his expertise to Blue Dolphin while Lazarus Energy Holdings continues to manage the company's assets and operations.
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 were granted by Veritex (NASDAQ:VBTX) Community Bank and the U.S. Department of Agriculture. In addition, the company held its Annual Meeting of Stockholders, where 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.
In other operational developments, Blue Dolphin has entered into a new lease agreement for its subsidiary, Blue Dolphin Services Co. The agreement extends the office lease for 24 months, following the expiration of the previous amendment. The lease extension enables Blue Dolphin to maintain its operational base in Houston, Texas, ensuring continuity and stability for its employees and operations.
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