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W&T Offshore vs Blue Dolphin Energy: WTI and BDCO compared
W&T Offshore is the larger company: $167M of revenue in its latest quarter (Q3 2026) against $144M for Blue Dolphin Energy (Q2 2026). Blue Dolphin Energy is growing faster (+155% against +31% a year earlier). Blue Dolphin Energy is more profitable, with an operating margin of 16.4% against 7.1%.
Where the money goes: WTI and BDCO
W&T Offshore (WTI) · Q3 2026
W&T Offshore, Q3 2026: revenue $167M (+31% year over year), operating margin 7.1%, net loss $13.6M, operating cash flow $36.6M. The chart follows the revenue to costs, profit and cash.
Blue Dolphin Energy (BDCO) · Q2 2026
Blue Dolphin Energy, Q2 2026: revenue $144M (+155% year over year), operating margin 16.4%, net earnings $17.7M, operating cash flow $38.2M. The chart follows the revenue to costs, profit and cash.
| W&T Offshore (WTI) | Blue Dolphin Energy (BDCO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $167M | $144M |
| Revenue growth, Y/Y | +31% | +155% |
| Operating margin | 7.1% | 16.4% |
| Net earnings | −$13.6M | $17.7M |
| Net margin | -8.2% | 12.3% |
| Operating cash flow | $36.6M | $38.2M |
| Free cash flow | $28.5M | $38.1M |
Where the revenue comes from
W&T Offshore
- Oil: $112M (67%)
- Natural gas: $41.2M (25%)
- NGLs: $9.1M (5%)
- Other: $5.0M (3%)
Blue Dolphin Energy
- Refinery Operations: $143M (99%)
- Tolling and Terminaling: $765K (1%)
Questions
Which is bigger, W&T Offshore or Blue Dolphin Energy?
W&T Offshore is the larger company: $167M of revenue in its latest quarter (Q3 2026) against $144M for Blue Dolphin Energy (Q2 2026).
Is W&T Offshore or Blue Dolphin Energy growing faster?
Blue Dolphin Energy is growing faster (+155% against +31% a year earlier).
Which is more profitable, W&T Offshore or Blue Dolphin Energy?
Blue Dolphin Energy is more profitable, with an operating margin of 16.4% against 7.1%.
More: W&T Offshore earnings · how W&T Offshore makes money · Blue Dolphin Energy earnings · how Blue Dolphin Energy makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Aug 14, 2026). Fiscal quarters can end on different dates. Not investment advice.