Blue Dolphin Energy Company (BDCO)

[56Chevy]

Digging thru the last 8-k revealed something interesting in that it seems our modest little Texas teapot refinery has a "six-degree" connection with none other than The Oracle of Omaha himself via BRK.A.

Current Report Filing (8-k)

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As previously disclosed, on May 3, 2019, Pilot Travel Centers LLC, a Delaware limited liability company (“Lender”), entered into a Line of Credit, Guarantee and Security Agreement (the “Agreement”) with Nixon Product Storage, LLC, a Delaware limited liability company (“Borrower”), Lazarus Refining & Marketing, LLC, a Delaware limited liability company (“LRM” and, together with the Borrower, the “Grantors”), Lazarus Energy LLC, a Delaware limited liability company (“LE”), Blue Dolphin Energy Company, a Delaware corporation (“Blue Dolphin” or “Pledgor”, and Grantors and LE being wholly-owned subsidiaries of Blue Dolphin), and Lazarus Energy Holdings LLC, a Delaware limited liability company (“LEH”), whereby Lender agreed to extend a line of credit to Borrower in an aggregate principal amount of $12,800,000. The Agreement is primarily being used to finance NPS' purchase of crude oil from Lender pursuant to certain purchase and supply agreements and to provide working capital. The parties to the Agreement subsequently entered into amendments to the line of credit on May 9, 2019 and May 10, 2019 (as so amended, the “Credit Agreement”).

The parties hereto entered into Amendment No. 1 to the Credit Agreement (the “Amended Credit Agreement”) effective September 3, 2019.

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Source:

https://ih.advfn.com/stock-market/USOTC/blue-dolphin-energy-qx-BDCO/stock-news/80725391/current-report-filing-8-k

Wikipedia has this to say re: Pilot Travel Centers, LLC;

Pilot Travel Centers LLC, doing business as Pilot Flying J, is a North American chain of truck stops in the United States and Canada. The company is based in Knoxville, Tennessee, where Pilot Corporation, the majority owner, is based. The company is owned by Pilot, FJ Management, and Berkshire Hathaway.

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Berkshire Hathaway Invests in Pilot Flying J


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Pilot Flying J is the largest operator of travel centers in North America, with more than 27,000 team members, 750 locations across the U.S. and Canada, and more than $20 billion in revenues. The investment will expand Pilot Flying J’s opportunities for growth, as the Company remains committed to delivering outstanding service for the trucking industry, professional drivers, local communities and interstate travelers across North America.

Under the terms of the agreement, Berkshire will acquire a 38.6 percent equity stake in Pilot Flying J. The Haslam family will continue to hold a majority interest with 50.1 percent ownership in the Company and FJ Management, Inc., owned by the Maggelet family, will retain 11.3 percent ownership until 2023. In 2023, Berkshire will become the majority shareholder by acquiring an additional 41.4 percent equity stake and the Haslam family will retain 20 percent ownership in the Company and remain involved with Pilot Flying J.

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Source:
https://pilotflyingj.com/press-release/5882/

Marker:
Blue Dolphin Energy (BDCO)
$1.17 0.0 (0.00%)
Volume: 0