---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-013769"
form_type: "8-K"
ticker: "BDCO"
cik: "0000793306"
company_name: "BLUE DOLPHIN ENERGY CO"
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T22:54:09.000121+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Blue Dolphin enters forbearance extension with Veritex to Dec 29, 2023

## Summary
- First Amended Forbearance Agreement extends forbearance period to December 29, 2023.
- Veritex will not exercise remedies under loan agreements for existing defaults through new termination date.
- Veritex also forbears from testing financial covenant compliance during forbearance period.
- CEO Jonathan Carroll, who owns ~83% of BDCO with LEH, is a party to the agreement.
- Agreement effective September 30, 2023, entered into on October 30, 2023.

## SEC filing metadata
- accession: 0001654954-23-013769
- form_type: 8-K
- ticker: BDCO
- cik: 0000793306
- company_name: BLUE DOLPHIN ENERGY CO
- filed_at: 2023-11-03T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/793306/000165495423013769/0001654954-23-013769-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/793306/000165495423013769/bdco_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-013769
- JSON: https://secwatch.observer/filing/0001654954-23-013769.json
- Plain text: https://secwatch.observer/filing/0001654954-23-013769.txt

## Key facts
- Material Agreements
  BLUE DOLPHIN ENERGY CO amended First Amended Forbearance Agreement with Veritex Community Bank valued at Forbearance extended to December 29, 2023 (effective 2023-09-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Veritex Community Bank
  - Value: Forbearance extended to December 29, 2023
  - Effective: 2023-09-30
  source text: On October 30, 2023, but effective September 30, 2023 (the “Effective Date”), the Lazarus Parties, together with Veritex, entered into a first amendment to the Forbearance Agreement (the “First Amended Forbearance Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/793306/000165495423013769/0001654954-23-013769-index.htm

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