Following these acquisitions, Carroll now holds 4,060,779 shares directly. Additionally, he has an indirect ownership of 8,426,456 shares through Lazarus Energy Holdings, LLC. This latest acquisition underscores Carroll's continued investment in Blue Dolphin Energy, a company with a market capitalization of $41.4 million and a P/E ratio of 10.3. InvestingPro subscribers can access 10 additional investment tips and detailed financial metrics for BDCO.
Following these acquisitions, Carroll now holds 4,060,779 shares directly. Additionally, he has an indirect ownership of 8,426,456 shares through Lazarus Energy Holdings, LLC. This latest acquisition underscores Carroll's continued investment in Blue Dolphin Energy, a company with a market capitalization of $41.4 million and a P/E ratio of 10.3. InvestingPro subscribers can access 10 additional investment tips and detailed financial metrics for BDCO.
In other recent news, Blue Dolphin Energy Company has seen several noteworthy developments. The company recently entered into a new lease agreement for its subsidiary, Blue Dolphin Services Co., extending the office lease for 24 months beyond the previous amendment's expiration. This lease extension allows Blue Dolphin to maintain its operational base in Houston, Texas, ensuring continuity and stability for its operations and personnel.
In terms of leadership, Blue Dolphin announced the appointment of Bryce D. Klug as the principal financial and accounting officer, Treasurer, and Assistant Secretary. Klug, a veteran in the oil and gas sector, will extend his expertise to Blue Dolphin while Lazarus Energy Holdings continues to manage the company's assets and operations.
Blue Dolphin's subsidiaries, Lazarus Energy, and Lazarus Refining & Marketing, have secured waivers for all covenant violations related to their loan agreements for fiscal years 2021, 2022, and 2023. These waivers, granted by Veritex (NASDAQ:VBTX) Community Bank and the U.S. Department of Agriculture, absolve the subsidiaries from meeting specific financial or operational metrics outlined in their loan agreements.
Finally, Blue Dolphin Energy recently held its Annual Meeting of Stockholders, where shareholders elected five director nominees and ratified UHY LLP as the company's independent public accounting firm for the fiscal year ending December 31, 2024. The newly elected directors include Jonathan P. Carroll, Amitav Misra, Christopher T. Morris, Ryan A. Bailey, and Herbert N. Whitney. These are the latest updates in the company's recent developments.
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