For the year 2007, Blue Dolphin Energy Company benefited from an increase in revenues from its existing pipeline operations resulting from deliveries of production from new shippers on both the Blue Dolphin System and the GA 350 Pipeline. The level of throughput on the Blue Dolphin System increased due to deliveries from three new wells this past summer. The GA 350 Pipeline throughput also increased from the addition of two new wells, one in June and one in September.
The Blue Dolphin System is currently transporting an aggregate of approximately 20 MMcf of gas per day from 10 shippers. A workover is under way on an existing well and the drilling of an exploratory well on an additional block is expected to begin by late February 2008, indicating continued interest in the market area by oil and gas producers. The GA 350 Pipeline is currently transporting an aggregate of approximately 32 MMcf of gas per day from six shippers. The Blue Dolphin System and the GA 350 Pipeline have significant available capacity to meet the future needs of oil and gas producers in the market areas served by the pipelines.
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