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Blue Dolphin Energy Company is engaged in the acquisition and exploration of oil and gas properties, and the gathering and transportation of natural gas and condensate. In addition, the Company actively pursues midstream projects with long-term revenue potential such as the Petroport offshore oil terminal project and the Avoca Natural Gas Storage project. The Company?s primary geographical focus areas are the western and central coasts of the US Gulf of Mexico.
Blue Dolphin Exploration Company ("BDEX") is involved in oil and gas exploration, development, production and producing property acquisitions. Our focus area is the Gulf of Mexico shelf. BDEX manages a joint venture prospect generation program in which the company identifies, evaluates and recommends oil and gas prospects for sale to its partners.
Petroport - a new deepwater port to be built off the Texas coast, will reduce ship traffic, enhance safety, and help protect the environment - while offering major benefits to U.S. industry.
Our gathering and transportation business unit currently owns a 50% operating interest in two active pipeline systems and a third inactive pipeline system. All are located in the Western Gulf of Mexico and serve our producer customers through redelivery to the shore facilities and petrochemical complexes of the upper Texas Gulf Coast.
As a result of our ongoing effort to add strategic assets to our pipeline systems in the Gulf of Mexico, we acquired the Black Marlin Pipeline early in the year for an investment of $2.7 million. This acquisition increased the Company?s pipeline system by over 150%.
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