BLUE DOLPHIN ENERGY CO (BDCO): CFO William Christopher McDougall appointed

Events in this filing

Item 5.02 as filed

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 17, 2026, the board of directors (the “Board”) of Blue Dolphin Energy Company (“Blue Dolphin”) appointed William Christopher (“Chris”) McDougall, 52, previously Director of Corporate Development, to the positions of Chief Financial Officer, Treasurer, and Assistant Secretary effective immediately. Mr. McDougall will also serve as Blue Dolphin’s principal financial officer.
Mr. McDougall has more than twenty-five years of experience in the oil and gas, chemicals, and investment management industries. Prior to his new role as Chief Financial Officer, he had served as Blue Dolphin’s Director of Corporate Development since 2015. From 2012 to 2014, Mr. McDougall was Vice President of Research at Westlake Securities where he covered upstream, midstream, and alternative energy companies. From 2007 to 2011, he was a Senior Analyst and Partner at Treaty Oak Capital Management, an investment firm managing energy-focused hedge funds with assets that peaked at more than $700 million. Earlier in his career, he held several positions at The Dow Chemical Company, including Program Manager in Dow Ventures. Mr. McDougall earned a Master of Business Administration from the McCombs School of Business at the University of Texas at Austin and a Bachelor of Chemical Engineering from the Georgia Institute of Technology. He holds the Chartered Financial Analyst® (CFA®) designation and previously held FINRA Series 7, 24, 63, 86, and 87 licenses.
Bryce D. Klug, 46, will continue to serve as Blue Dolphin’s principal accounting officer. For additional information related to Mr. Klug, please refer to Blue Dolphin’s definitive proxy statement filed on May 11, 2026 and additional definitive proxy soliciting materials filed on May 21, 2026 with the Securities and Exchange Commission (the “Proxy Statement”), which are incorporated herein by reference.
There are no arrangements between Mr. McDougall or Mr. Klug and any other person pursuant to which they were designated as principal financial officer and principal accounting officer, respectively, of Blue Dolphin. There is no family relationship between either Mr. McDougall or Mr. Klug and any of Blue Dolphin’s directors or executive officers.
There have been no transactions or any currently proposed transactions in which Mr. McDougall or Mr. Klug were or are to be a participant in or which Mr. McDougall or Mr. Klug had or will have a direct or indirect material interest.
Both Mr. McDougall and Mr. Klug receive their remuneration from Lazarus Energy Holdings, LLC (“LEH”). Under the terms of an operating agreement between LEH and Blue Dolphin, salaries, among other costs, are billed to Blue Dolphin and its subsidiaries each month for LEH’s operation and management of their assets. Together, Jonathan Carroll and LEH owned 85.1% of Blue Dolphin’s common stock as of the filing date of this report.