Questions Post Question There are no questions yet for this company. Each and all were contemporary manifestations of an economic imperative that dates back to the triumph of the treaty breakers who usurped the Native Americans and commodified the land, and to the waves that came in their wake, the great white hunters who cleaned out the buffalo, the agents of the bone boom that followed who sent trainloads of buffalo skeletons back East to be used to refine sugar, the iron-horse magnates, the immigrant farmers and pioneer ranchers ruined by the dirty 30s, and later the first oil and lignite coal barons and the government dam builders who tamed the Missouri. Best of all, in a state where until recently young people often had to leave to find work, his two sons Ryan, an oilman, and Sander, a lawyer joined the company and built successful careers down the hall. The corporate defendants own two-thirds of the membership interest units. Mike McFeely is a columnist for The Forum of Fargo-Moorhead. The best result we found for your search is Dawn M Kopseng age 50s in Mandan, ND. New or freshly painted pump jacks were nodding over recent discoveries. Reputation Score: 1.70-3.81. Get the latest business insights from Dun & Bradstreet. The formation, named for Henry O. Bakken, a farmer who leased his land for an early well, consists of three layers, sandwiched, in a commonly used analogy, like an Oreo cookie. Jenkinson, a humanities professor, is a North Dakota author and columnist best known for his impersonation of Thomas Jefferson on public radio. While they were buying houses and investing in mutual funds, he was in debt-work-out negotiations with Halliburton. Approached from the side with a horizontal shaft, the reservoir rock could be contacted for thousands of feet rather than for the hundred or so feet a vertical well would afford. All rights reserved. Gloria Fronk Sun Lakes, AZ. Later, as improved instruments gave drillers a more precise sense of where they were and what kind of rock they were in, they were able to steer drill bits between the black halves of the Oreo. 861.10 (2002 Rev. Its hard to think of what oil hasnt done to life in the small communities of western North Dakota, good and bad. Under paragraphs 1.11 and 2.09 of the Jurassic Operating Agreement, the members and the board of governors may take actions by the affirmative vote of a majority of the members or governors unless otherwise required by law or specified in the Articles of Organization of the Company or a member control agreement. Thus, the corporate defendants had the power to control Jurassic's business decisions. The debts of the company exceed the appraisal value determined by the Special Master as of November 27, 2001. Q. Kopseng is a conservative Republican, and like many North Dakotans, he includes government regulation in the same category of pleasant experiences as droughts, floods, grasshoppers and prairie fires. We arent going to do anything to jeopardize it. By February 1999, there wasnt a single rig drilling new wells in the state, and oil development looked to be yet another cautionary tale in the familiar boom-and-bust history of the region no better than previous resource bonanzas at stemming the exodus of young people, or at halting the decline of prairie towns, or at doing much of anything to ameliorate the image of a place where the Legislature brooded over the icy connotations of the word North and twice entertained the idea of simply calling the state Dakota., Alex Brewer, 23, is a floor hand at Raven Drilling. And then again in the late 70s, when the boom was driven by rising oil prices. He struggled for five years, learning expensive lessons. Summary. North of the Missouri River, around the town of Parshall in Mountrail County, the wells started almost on a line that coincided roughly with the 102nd meridian. We may head closer to Bismarck, you know. Executive Vice President at United Energy . It took me all night. WebKopseng Loren in Bismarck, reviews by real people. Later, they and others formed a number of other companies, including Rainbow Gas, Kopseng 65, a deer hunter, a Bud Light drinker, a profane churchgoer with four kids and two ex-wives refers to himself as a petro-preneur. The oil company he started almost 30 years ago is headquartered in Bismarck, but the thrilling part of his billion-dollar business is based 100 miles northwest in the Williston Basin. Why do [critics] always start talking about the challenges? Hamm said in a speech he gave at Williston Basin Petroleum Conference in Bismarck in May. To assess the impact, the state highway department has a special van that drives around with an onboard computer, an infrared detector and six cameras and produces a ride rating for every mile of the regions highways; the higher the number, the worse the ride. We crossed the Missouri River, the plane beating on above a sea of grass. . I had a lot of lemonade wells, he sighed. [3]Jundt left his position with Williston Basin Interstate Pipeline Company (WBI) in 1997 and became an employee of Rainbow Gas. "I'm supposed to say no comment," Kopseng said Wednesday, June 2, when reached by The Forum and asked directly whether he and the company of which he is president and CEO were negotiating to buy the coal-burning power plant located near Underwood, N.D. After a pause he said, "There should be something in a couple of weeks.". Business Buzz: Bed Bath and Beyond liquidation sales begin, ND's unemployment rate continues to fall, and more, State FFA band and chorus are the hidden gem of Minnesota State FFA convention, As West Fargo teacher nears end of prestigious fellowship, school district wont rehire her, 'Capital investment to flow' with corporate farm law change, North Dakota Gov. at 862.10. Inside, sooty-faced roughnecks with pale circles around their eyes and dazed expressions wandered through the aisles with armloads of beef jerky and 20-ounce cans of malt liquor. Cloud Enters., Inc., 301 Minn. 261, 222 N.W.2d 83, 86 (1974). I love construction and new buildings. The parties may file comments with the Court and Special Master by November 16, 2001 pursuant to Rule 53(f)(5). I tried for almost a year to apply online and calling people and no one would hire me. Ryan V Kopseng, 46. We kind of liken it to being in the military, you know. Court Records. [13]The record does not show the parties agreed to be bound by the special master's findings of the fair market value. The order reflecting the parties' stipulation says only that the trial court will use the report and appraisals to find the fair market values of any relevant properties. It does not say the court or the parties will adopt or be bound by the special master's report or findings. Suddenly the state that never had anything is in the middle of an oil boom that is larger than anybody could have predicted. He is working to earn a G.E.D. When he graduated (sidetracked for a year and a half by a stint in the Army that included seven months in Vietnam), one of his first jobs was flying a small plane for a highway contractor. Were smack-dab in the middle of an Indian reservation. 1. Anyone can read what you share. Why United Energy? After drilling companies finish securing leased acreage, it will take 20 years to develop the 35,000 to 40,000 production wells needed to fully exploit the thermally mature part of the Bakken shale, an area about the size of West Virginia. 4.01Tax Characterization and Returns. The company has 3 contacts on record. You wont find a better ambassador of what the oil industry calls the play in western North Dakota than Loren Kopseng. [23]We recently reiterated the test for resolving a motion for summary judgment: Summary judgment is a procedural device for promptly and expeditiously disposing of an action without a trial if either party is entitled to judgment as a matter of law and if no dispute exists as to either the material facts or the inferences to be drawn from undisputed facts, or if resolving factual disputes will not alter the result. A dog inside a truck outside Hampton Inn and Suites, Williston, N.D. Customers waiting for Walmart to open. The trial court concluded, among other things: 12. WebRelated To Sander Kopseng, Stephanie Kopseng, Loren Kopseng, Dawn Kopseng. Any such loan shall be repaid at such times and with such interest (at rates not to exceed the maximum permitted by law) as the Board and the lending Member shall reasonably agree. The ratio of men to women is about 5 to 1. Theres a kind of exhaustion thats in the air everywhere, says Soth, the photographer. While critics believe giving tens of millions of dollars to the coal industry is throwing good money after bad to an energy sector that will inevitably die, Below was the country of the Missouri Slope, where homesteaders discovered the fallacy that rain followed the plow. Kopseng 65, a deer hunter, a Bud Light drinker, a profane churchgoer with four kids and two ex-wives refers to himself as a petro-preneur. The oil company he started almost 30 years ago is headquartered in Bismarck, but the thrilling part of his billion-dollar business is based 100 miles northwest in the Williston Basin. The plaintiff's efforts in developing the assets of the company have contributed value to the company notwithstanding the debts the company has acquired in the process. We see that you have javascript disabled. The rain lifted outside Stanley at the junction of Route 2 and Highway 8 stretches of which had the worst road ratings in the state. Matt Kingsley, 23, center, and his friend Dan Bashore, 22, right, are from Grand Ledge, Mich. at 22. We tried to diversify our economy and create more permanent jobs. [7]Jundt sued to enforce his right to 4,925 membership units of Jurassic, and alleged Kopseng and the corporate defendants breached their obligation of good faith to Jundt and violated their fiduciary duties to Jurassic by, among other things, diverting a business opportunity belonging to Jurassic by acquiring property from WBI for Montana Heartland, which is owned by Jurassic's corporate members, rather than Jurassic. They have also lived in Mandan, ND. WebLoren Kopseng, Bismarck, ND 1960 Piper PA-18-150, N3574Z Outstanding Piper PA-24 Comanche Dennis Carew, Appleton, WI 1963 Piper PA-24-250, N250LJ Outstanding Piper PA-28 Cherokee John Ditchie, Glen Ellyn, IL 1966 Piper PA-28-140, N7122R Outstanding Limited Production Marilyn & Richard Olwin, Jemez Springs, NM 1969 Navion H, N2533T Ed.). Viewed in the global market, the states oil output isnt huge Saudi Arabia produces about 10 million barrels a day but North Dakotas oil boom now accounts for 11 percent of U.S. oil production, and it is the main reason the state government currently has a $3.8 billion surplus. and plans on getting a truck-drivers license. Jundt clearly knew and understood all the write-offs would go to the money investors. People are getting forced out of their places because they cant afford the rent, and we are one of them., A housing development in Williston, N.D. Ive met so many nice people that have moved here that want to make Williston their home, Melissa Lucy says. They were visiting Dans father in Williston on their way to Big Sky, Mont., where Matt works at a ski resort. Estimates have been continuously revised upward since a 1974 figure of 10 billion barrels. Jundt is not an owner of Montana Heartland. In 1997 he and Russell consolidated various energy-related businesses into the privately held United Energy Corporation. 7. Select this result to view Loren R Kopseng's phone number, address, and more. The evidence must be viewed in the light most favorable to the party opposing the motion, and that party will be given the benefit of all favorable inferences which can reasonably be drawn from the evidence. Keep an eye out for radio towers, Kopseng said over the headset. Section 10-32-119(4), N.D.C.C., provides all members in a closely held limited liability company owe one another a duty to act in an honest, fair, and reasonable manner in the operation of the limited liability company. [T]he fiduciary obligation of undivided loyalty imposed upon directors and officers precludes them from appropriating a business opportunity which belongs to the corporation. Joseph W. Bishop, Jr., The Law of Corporate Officers and Directors 3.05 (2002). An equitable resolution by the Court also takes into account Jundt's claims about over allocated expenses, attorney fees and transportation charges to the extent the Court has any limited concerns over those claims. , while the attached Falkirk Mine, operated by North American Coal, supports several hundred more jobs. Kopseng took pictures hed done all the aerial photography for U.E.C.s annual report. Apart from a few fanatics who sometimes turned up at midnight, the landmen would begin arriving at the courthouse around 6 a.m. Apostles of Bakken gold insist that whats different this time is that this time is different, the history of frontier avarice notwithstanding. The Middle Bakken layer, a band of grayish dolomitic sandstone and siltstone from 30 to 70 feet thick, sits between the Upper and Lower Bakken intervals, carbon-rich beds of black shale between 20 and 50 feet thick. But with Russell handling the financial end, Kopseng began accumulating distressed oil and gas wells. I talked to one of these gals, says Alec Soth, the photographer, and she said: Look, Im not good looking, but I can walk into this place, I can point at any one of these guys and take him home. In a supervised voluntary winding up and termination pursuant to section 10-32-118; b. Web/ NORTH DAKOTA / BISMARCK / Pine Gas Gathering L L C; Pine Gas Gathering L L C. Get a D&B Hoovers Free Trial. Liquidation and partition are not appropriate equitable remedies in this case. A decade ago you could have spread a picnic blanket on a lot of back roads in western North Dakota and safely taken a nap. North Dakota has had oil booms before but never one so big, never one that rivaled the land rush precipitated more than a century ago by the transcontinental railroads, never one that so radically changed the subtext of the Dakota frontier from the Bitter Past That Was to the Better Future That May Yet Be. At the time, North Dakota was ranked ninth among U.S. oil-producing states. Resides in Bismarck, ND. I get paid to get dirty and filthy as I want all day., Left to right: Aaron Janiak, Andrew Johnson and Justin Schoessow. (By Mr. Kuntz continuing) The other owners wouldn't be entitled to take those write-offs after he had earned his interest just because Mr. Jundt couldn't use them; would they? . The moneys very good out here, if you find someone to pay for your housing. Impressive as it is to execute a 90-degree turn in a well bore thousands of feet underground, horizontal drilling alone was not enough to tap the tight oil in the Bakken. The westward march of American industry was written in the quarters of plowed earth and section line roads, in the power-transmission towers and smoke-signal steam puffs drifting from a Tesoro refinery; it was visible even on the far horizon, at the edge of a fretted but still bracing emptiness, in the shape of giant windmills and the silhouette of a coal gasification plant. 4. But now, land near the airport that was $500 an acre a decade ago was selling for as much as $180,000 an acre; the airport itself was slated for relocation. That would cause considerable tax problems for all of the partners here. The trial court found the parties no longer have a business relationship that will allow them to work together and concluded [l]iquidation and partition are not appropriate equitable remedies in this case. The court concluded cancellation of Jundt's membership interest units in exchange for payment of $300,000 by the corporate defendants was the appropriate equitable remedy. Dawn is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. The downtown area was struggling for 25 years. Meridian engineers went down more than 10,000 feet and then burrowed sideways into a bed of Upper Bakken shale that was only eight feet thick. But its just happening too fast. 10-32-119(1) have been established. We skimmed along the Montana border, then banked east over the confluence of the Yellowstone and Missouri Rivers. The plaintiff's claims against the defendant Loren R. Kopseng are DISMISSED WITH PREJUDICE. It transports by rail 82,000 barrels of oil a day to refineries. Brandi Wagner, 24, from Spokane, Wash., with her ex-boyfriend, Zachary Bolton, 27, a computer technician for American Casing and Equipment. The first areas of the Bakken to be hydraulically fractured were on the Montana side of the Williston Basin in the Elm Coulee Field, where oil was discovered in 2000. Spending all the money? Hamm, who is known as the Baron of the Bakken by virtue of having more than a million acres leased for drilling, led Mitt Romneys energy committee, which proposed giving states control of oil leases on federal lands. . [A] director is not required to use his or her own money or credit to finance the business of the company. Id. United Energy Location 919 S 7th St Ste 405, Bismarck, North Dakota, 58504, United States Description Read More Industry Across the highway, workers were pouring concrete for a new Fuel Force gas station and rolling out sod on a fresh tract of homes. 2. We had 12,500 people in the 2000 census, and we wanted to grow beyond that, he said, heading to the northern edge of town. I hate the wind. Loren Kopseng. Differences arose and Jundt left in 1999. I love it. It has now leveled off at around 200, as thousands of wells have been completed under deadline pressure to secure expiring mineral leases. They have also lived in Mandan, ND. Co., 2002 ND 148, 5, 651 N.W.2d 683. The former landman who told me this Brent Brannan, now director of the North Dakota Oil and Gas Research Program said he sometimes thought he could see the whole boom in that one image, briefcases waiting for the day to start, and it killed him a little that he never took a picture. Devon Fox (foreground) and Taven Fox (background) near New Town, N.D., at Fort Berthold Indian Reservation. . In truth, it seems less an assessment of what humanity can expect when it is done devouring the earths nonrenewable resources than a prayer that reflects a faith unique to the place where Link was born, faith that all those caved-in cabins, withered towns and stillborn dreams and whatever is left when the oil is gone can be redeemed. Please enable javascript and refresh the page to continue reading local news. Jundt, the only individual or entity claiming diversion of a Jurassic corporate opportunity, owns fewer than one-third of the membership interest units in Jurassic. But hes honest enough to concede (with an anguished moan) that his private-enterprise principles arent hypocrisy-free, given that his own bacon has been saved many times by the state-owned Bank of North Dakota, which became prominent when North Dakota was a bastion of radical agrarian populism in the 1930s. Perm. According to United's website, it "purchases, transports, stores and sells over 1 million barrels of crude oil per day.". Johnson, 21, commutes nine hours from Pennock, Minn., where hes from, to North Dakota to work in construction. Many were production wells weathered pump jacks pulling up oil (or natural gas and natural-gas liquids) from holes drilled over the years. South of the river, the boundary was marked by Highway 49. Right now our best guess is there are 169 billion barrels of oil in the Bakken, and thats undoubtedly wrong, says Ed Murphy, state geologist at the North Dakota Geological Survey. Memorial services will be held at 2 p.m. Saturday, Oct. 21, at Trinity hasnt drilled a well of its own since 1998, but today it holds a nonoperating interest in close to 2,000 oil and gas wells. Through the efforts of the plaintiff and through the capital and loans provided by the corporate defendants, and through the efforts of the defendant Loren R. Kopseng, Jurassic Resources Development North America, L.L.C., a North Dakota Limited Liability Company, has acquired assets and value that are not entirely equitably offset by its debts. Loren Kopseng, Ryan Kopseng. The rigs, they dont shut down for anything out here. Or that he denied it at all. WebTop Result for Dawn Kopseng. I get to live every 5-year-old-kids dream. [29] WILLIAM A. NEUMANN, Acting C.J., JAMES M. BEKKEN,* D.J., MARY MUEHLEN MARING, and DALE V. SANDSTROM, JJ, concur. As a subscriber, you have 10 gift articles to give each month. , saying "you won't find a better ambassador of what the oil industry calls 'the play' in western North Dakota than Loren Kopseng. After he married and started a family, it was his wifes friends who looked at him sideways. Lookup the home address and phone 7012261617 and other contact The sandstone of the Middle Bakken retained the shape of the drill bore better than the Bakken shale. Generally the formation was too thin to provide a worthwhile pay zone for a vertical well. He was elected to the Board of Commissioners in 1994 and returned to office five times. The store was selling showers: a half-hour of hot water for 10 bucks; $15 for a couple. [12]The defendants contend the parties stipulated they would be bound by the special master's findings of the fair market value of Jurassic as of the date of trial. The special master found the Fair Market Value of the reserves and future production and income attributable to certain leasehold interests and the Pine Gas Gathering System of Jurassic et al as of November 27, 2001, was $2,286,000. The timing might not have seemed auspicious; companies were quitting the Williston Basin, unable to sell their product for more than it cost to produce. He was entitled to receive them if he was-if he was entitled to the ownership interest, he was entitled to the tax write-offs. Missouri River, Rainbow Gas, and Rainbow Energy invested money in Jurassic, and were issued a total of 10,000 membership units. An abandoned building off Highway 23 in the Williston Basin. Mark Froemming, 23, works for Halliburton as a frack crew member, on two-week rotations, and returns to Missoula, Mont., during his two weeks off. WebLoren was born on 06.25.47. [22]Jurassic was negotiating to acquire WBI properties before Jundt left Jurassic. As to this claim Jundt has the burden of proof. There was no showing of a corporate opportunity Jurassic had the financial ability to pursue. The plaintiff and the defendants no longer have a business relationship that will allow them to work together. At FindLaw.com, we pride ourselves on being the number one source of free legal information and resources on the web. Water trucks in the parking lot wore petticoats of mud. This is the boom that is going to change everything without the remorse and misgivings that have marked the aftermath of so many past orgies of resource extraction. Its hard to say whether the hope and grandeur of that vision are deeper than its delusions. Wells being hydraulically fractured were ringed by 20 or more water tanks spread out on square mounds of brick-red scoria a clay sintered by underground coal fires and used for drill pads and roads in North Dakota. Flying was Kopsengs dream job before he got the idea of building an oil company. It reverses decades of anxiety about out-migration and rural decline and death. The law has long recognized the doctrine of corporate opportunity which prohibits one who occupies a fiduciary relationship to a corporation from acquiring, in opposition to the corporation, property in which the corporation has an interest or tangible expectancy or which is essential to its existence. 3 Fletcher Cyc. An abuse of discretion by the trial court is never assumed; the burden is on the party seeking relief to affirmatively establish it. Gepner v. Fujicolor Processing, Inc., 2001 ND 207, 13, 637 N.W.2d 681. I stopped for gas at a Cenex convenience store called Bakken Central, where help was wanted for all days, all shifts. Infinity nagged at the scale of things. Two dozen horn-handed men were bent over their lunches in an airport-motel restaurant; the only women in the place were the waitresses. Related To Stephanie Kopseng. The stipulation was formalized in an order drafted by Jundt's counsel, which appointed the Ryder Scott Company as a Special Master pursuant to Rule 53, N.D.R.Civ.P., for the purpose of providing fair market value appraisals of specified assets owned or controlled by Jurassic, Pine Gas Gathering Company, and Montana-Heartland Company. WebLoren Kopseng, (701) 226-1617, Bismarck Public Records Instantly. Jundt cross-appealed from the judgment; a December 5, 2000, amended order on summary judgment motions; an October 12, 2000, order on a summary judgment motion; and a December 13, 2001, amended memorandum opinion and unchanged findings of fact, conclusions of law, and order for judgment. While coal backers have touted carbon capture and storage as a path to continued viability, it has never worked on a large commercial scale. Russell, who died in 2011, also wanted to get into oil and gas. Landowners have land rights but dont always have rights to whats underneath it, the minerals. Please try again. North Dakota officials and Great River have been keeping quiet about the prospective buyer but said the intent was to pursue carbon capture projects attached to the plant.

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