---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-000204"
form_type: "8-K"
ticker: "BDCO"
cik: "0000793306"
company_name: "BLUE DOLPHIN ENERGY CO"
filed_at: "2024-01-04T23:59:59+00:00"
generated_at: "2026-06-07T04:23:15.873331+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Blue Dolphin Energy extends forbearance with Veritex to March 29, 2024 on $27.9M debt

## Summary
- Forbearance extended through March 29, 2024; existing defaults from missed payments since Feb 2021 continue.
- Outstanding principal as of Dec 21, 2023: $19.68M (Lazarus Energy) and $8.19M (Lazarus Refining), totaling ~$27.87M.
- CEO Jonathan Carroll and his entity own ~83% of Blue Dolphin; he remains CEO/President.
- Borrowers must make monthly interest payments at non-default rate; $1M reserve account must be replenished quarterly.
- If forbearance ends unpaid, Veritex may accelerate and foreclose on collateral including refinery assets.

## SEC filing metadata
- accession: 0001654954-24-000204
- form_type: 8-K
- ticker: BDCO
- cik: 0000793306
- company_name: BLUE DOLPHIN ENERGY CO
- filed_at: 2024-01-04T23:59:59+00:00
- event_type: debt
- sentiment: negative
- 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/793306/000165495424000204/0001654954-24-000204-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/793306/000165495424000204/bdco_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-000204
- JSON: https://secwatch.observer/filing/0001654954-24-000204.json
- Plain text: https://secwatch.observer/filing/0001654954-24-000204.txt

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