Blue Dolphin Increases Stake in Pipeline
Blue Dolphin Energy Company has acquired an additional 1/3 interest in the Blue Dolphin Pipeline System, which it operates, from MCNIC Pipeline & Processing Company ("MCNIC"), a business unit of DTE Energy Company (NYSE: DTE). As a result of this transaction Blue Dolphin holds an 83% interest in the Blue Dolphin Pipeline System.
The Blue Dolphin Pipeline System is a natural gas and ondensate-gathering pipeline with related shore facilities servicing the Galveston Area, offshore Texas, with transportation capacity of 160 Mmcf/d and 7,000 Bpd of condensate. Present throughput is approximately 20 Mmcf/d and 100 Bpd of condensate. The line extends from Galveston Block 288 to its onshore facilities in Freeport,