Blue Dolphin subsidiary enters crude supply and storage agreements with MVP for Nixon facility

BLUE DOLPHIN ENERGY CO

Lazarus Energy (wholly-owned subsidiary) signed Crude Supply Agreement with MV Purchasing, LLC (MVP).
MVP will supply up to 100% of Nixon facility's crude oil capacity at market prices.
Initial term Jan 1, 2024 to Mar 31, 2024; auto-renews every 90 days, 60-day termination notice.
Nixon Product Storage entered parallel Terminal Services Agreement with MVP for crude storage.
TSA term runs concurrent with Crude Supply Agreement and terminates automatically with it.

item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BLUE DOLPHIN ENERGY CO entered into TSA with MV Purchasing, LLC (effective 2024-01-01).

Action: entry
Agreement: supply
Counterparty: MV Purchasing, LLC
Effective: 2024-01-01

Exact text from the filing

In addition to the Crude Supply Agreement, MVP entered into a Terminal Services Agreement (the “TSA”) with Nixon Product Storage, LLC, also a wholly-owned subsidiary of Blue Dolphin, effective January 1, 2024, to store crude oil at the Nixon facility.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BLUE DOLPHIN ENERGY CO entered into Crude Supply Agreement with MV Purchasing, LLC (effective 2024-01-01).

Action: entry
Agreement: supply
Counterparty: MV Purchasing, LLC
Effective: 2024-01-01

Exact text from the filing

On December 29, 2023, Lazarus Energy, LLC, a wholly-owned subsidiary of Blue Dolphin Energy Company (“Blue Dolphin”), entered into a Crude Oil Contract (the “Crude Supply Agreement”) with MV Purchasing, LLC (“MVP”).

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Source: SEC EDGAR

accession 0001654954-24-000276

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