Profile: Blue Dolphin Energy Co (BDCO.PK)
Blue Dolphin Energy Company (Blue Dolphin), incorporated on January 21, 1986, is a holding company that conducts substantially all of its operations through its subsidiaries. During the year ended Blue Dolphin operated two lines of business through its subsidiaries: pipeline transportation services to producers/shippers and oil and gas exploration and production. Blue Dolphin's subsidiaries are Blue Dolphin Pipe Line Company, Blue Dolphin Petroleum Company, Blue Dolphin Exploration Company, Blue Dolphin Services Co. and Petroport, Inc. In February 2012, the Company acquired Lazarus Energy, LLC.
All of the Company's pipeline assets are held by and the business conducted by Blue Dolphin Pipe Line Company. Blue Dolphin Pipeline System (BDPS) spans approximately 38 miles and runs from Galveston Area Block 288 offshore to the Company's onshore facilities and the Dow Chemical Plant Complex in Freeport, Texas. The BDPS includes approximately 188 acres of land in Brazoria County, Texas where the Blue Dolphin Pipeline comes ashore and where the BDPS' onshore facilities, pipeline easements and rights-of-way are located; an offshore platform and the Blue Dolphin Pipeline.
The BDPS gathers and transports oil and gas from various offshore fields in the Galveston Area of the United State Gulf of Mexico to the Company's onshore facilities located in Freeport, Texas. The oil is processed, stored and sold by a third-party. Galveston Area Block 350 Pipeline (GA 350) is an 8-inch, 13 mile offshore pipeline extending from Galveston Area Block 350 to an interconnect with a transmission pipeline in Galveston Area Block 391 located approximately 14 miles south of the Blue Dolphin Pipeline. Omega Pipeline (Omega) originates in the High Island Area, East Addition Block A-173 and extends to West Cameron Block 342, where it was previously connected to the High Island Offshore System. During the year ended December 31, 2011, the Omega is inactive.
Exploration and Production
The Company's oil and gas exploration and production activities include leasehold interests in properties located in the United States Gulf of Mexico and the North Sumatra Basin offshore Indonesia. The Company's leasehold interests, which are held in and the operations conducted by BDPC, are subject to royalty and overriding royalty interests. The Company evaluates and manage oil and gas properties giving consideration to geography, reserve life and hydrocarbon mixes based on seismic and other data. North Sumatra Basin-Langsa Field located offshore Indonesia, the North Sumatra Basin-Langsa Field covers approximately 77 square kilometers and contains two oil fields, the L Field and the H Field.
High Island Block 115 is located approximately 30 miles southeast of Bolivar Peninsula in an average water depth of approximately 38 feet. The block contains one active well, the B-1 ST2 Well. The B-1 ST2 Well is producing approximately 2 million cubic feet of gas per day. Galveston Area Block 321 is located approximately 32 miles southeast of Galveston in an average water depth of approximately 66 feet. The block contains one active well, the A-4 Well. The A-4 Well is producing approximately 2 million cubic feet of gas per day. High Island Block 37 is located approximately 15 miles south of Sabine Pass in an average water depth of approximately 36 feet.
Blue Dolphin Energy Co
Suite 2100, 801 Travis Street
HOUSTON TX 77002-5729