---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-005789"
form_type: "8-K"
ticker: "BDCO"
cik: "0000793306"
company_name: "BLUE DOLPHIN ENERGY CO"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:41:58.888460+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Blue Dolphin subsidiary Lazarus Energy modifies $11.2M promissory note; monthly payments of $500k through Feb 2025

## Summary
- Principal and accrued interest total $11,205,516 as of March 31, 2023; new monthly payments of $500,000 from April 2023 through February 2025.
- Interest rate reset to 6.25% per year effective April 1, 2023.
- Note holder agrees to forbear from remedies on existing defaults if payments are made; failure results in termination of forbearance after 30-day cure period.
- Payments of $500,000 already made on April 7 and May 1, 2023.
- Final payment of approximately $444,000 due in March 2025.

## SEC filing metadata
- accession: 0001654954-23-005789
- form_type: 8-K
- ticker: BDCO
- cik: 0000793306
- company_name: BLUE DOLPHIN ENERGY CO
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/793306/000165495423005789/0001654954-23-005789-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/793306/000165495423005789/bdco_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-005789
- JSON: https://secwatch.observer/filing/0001654954-23-005789.json
- Plain text: https://secwatch.observer/filing/0001654954-23-005789.txt

## Key facts
- Material Agreements
  BLUE DOLPHIN ENERGY CO amended Payment Agreement with John H. Kissick valued at $11,205,516 (effective 2023-04-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: John H. Kissick
  - Value: $11,205,516
  - Effective: 2023-04-30
  source text: On April 30, 2023, Lazarus Energy, LLC, a Delaware limited liability company (“LE”) and wholly owned subsidiary of Blue Dolphin Energy Company, and John H. Kissick (“Note Holder”) entered into a Payment Agreement, pursuant to which Note Holder agreed to modify the payment terms of a Promissory Note dated June 1, 2006 (as subsequently amended, restated, supplemented, or modified, the “Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/793306/000165495423005789/0001654954-23-005789-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.