Includes Address(4) Phone(2) Email(1) See Results. In the fall of 2011in Crosby, N.D., Continental Resources, the oil company with the most acreage leased in the basin, erected a self-congratulatory granite monument celebrating its work in the so-called Bakken Formation, the Williston Basin rocks that, as Continental put it, ushered in a new era in the American oil industry. The number of rigs drilling new wells in North Dakotas part of the basin reached a record 218 last May. It has confounded kids running lemonade stands: 50 cents a cup but your customer has only hundreds in his payday wallet. One reason for the lack of dissent may be that there just arent that many people in North Dakota the state has a population density of less than 10 per square mile; Pennsylvania has 284, New York 411 and the people who are there appear to have weighed the benefits against the costs. It has ginned up an unreleased reality show called Boomtown Girls, which follows the lives of five bold and brave sisters in the formerly drowsy farm center of Williston, N.D. Williston, whose population has tripled in the past 10 years, lies in the middle of the 150,000-square-mile Williston Basin, a depression in the crust of the earth that geologists now believe contains one of the largest oil fields in the world. Yelp is a fun and easy way to find, recommend and talk about whats great and not so great in Bismarck and beyond. He went broke twice, maxed out his credit cards and even borrowed money from his mother loans that came with sharp remarks about his clothes and hair. 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). Theres a couple of small towns that weve been checking out.. North Dakotans are as proud of their Capitol as they are of their boom-based unemployment rate (3.2 percent, lowest in the nation), and many were stung when a Minnesota state legislator last spring compared it to the headquarters of an insurance company. Ryan Kopseng is an Executive Vice President at United Energy based in Bismarck, North Dakota. At the time, North Dakota was ranked ninth among U.S. oil-producing states. The rigs, they dont shut down for anything out here. 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. [15]The defendants contend Jundt waived his right to challenge the special master's determination by failing to provide the special master any evidence he possessed that Jurassic had a higher value. They argue Jundt should not have been allowed to challenge the special master's findings at trial, because he did not file objections' to the report by November 27, 2001. However, on November 27, 2001, the first day of trial, the trial court noted the time for objecting was still running.. 861.10 (2002 Rev. As to this claim Jundt has the burden of proof. Under any of the theories, Jundt has failed to meet his burden. About 95 percent of the Bakken wont yield its oil unless millions of gallons of pressurized water full of sand and various chemicals are pumped down the well to crack open hairline channels. Rodeo winds were bucking the Husky all over the sky, but nothing could dampen his enthusiasm for the sights of the basin nothing save my stomach. employs almost 250 people The transient people are more the single guys. Arthur A. Trailers at M&M Park in Watford City, N.D. Laurie Rod, 50, came out with her husband from North Branch, Minn. Were gonna try it for a couple years and see how it goes. In 2012 the company earned a net profit of $44.8 million on revenues of $5.7 billion. Doug Burgum deferred questions about Coal Creek to Great River Energy, which declined comment citing nondisclosure agreements with potential buyers. But they had to have the tool there, you know?. Additionally, both Kopseng and Russell testified that the money investors were to take the tax write-offs as without being able to claim the tax benefits money investors would not invest in such ventures. Jurassic began a program of gas exploration and production. Also known as: Loren Roy Kopseng, Loran R Kopseng, Loren Konseng. The defendants here asserted Jurassic lacked the financial ability to take advantage of the opportunity. Loren Kopseng. Coal Creek Kopseng first came down with oil fever in the late 1970s, when fortunes were being made domestically in the wake of the OPEC oil embargo. Its a very solitary existence, being up there. The sandstone of the Middle Bakken retained the shape of the drill bore better than the Bakken shale. Whether Great River was closing the plant because it was losing tens of millions of dollars a year and its customers were demanding green energy, as it said The initial members of Jurassic were Missouri River, Rainbow Gas, and Rainbow Energy. As they call them out here the oil-field trash., For my kids, what Im a little bit worried about is the development of housing, gas stations, schools, stores, well facilities and those kind of things, says Kevin Gieseke, 26,father of the newborn Sawyer, shown here. . What constitutes the usurpation of a corporate opportunity is the subject of considerable litigation [H]owever, a single definitive test has not yet emerged. Joseph W. Bishop, Jr., The Law of Corporate Officers and Directors 3.05 (2002). Statistics for all 2 Ryan Kopseng results: 40 yrs. Dancers at a performance of Snow White in Williston, N.D. We just learned that we have to move out of our dance studio, saidMelissa Lucy, 43, a co-owner of Dance Fever Performing Arts Studio. The email address cannot be subscribed. (Montana Heartland), and United Energy Corporation, a holding company. Even though youre with your man, youre holding his hand or whatever, theyll still stare. Zachary (center): Shes a beautiful girl, so Ive always got that, like all the guys constantly hitting on her. Leigh Price, a United States Geological Survey geochemist, was initially greeted with skepticism when, about 13 years ago, he came to the conclusion that the Bakken might hold as much as 503 billion barrels of oil. The payoff provision is inserted to guarantee the financial group their writeoff's during the planned start up period which is scheduled to be conducted as a loss. WebLOREN KOPSENG Manager, Member 919 S 7th St Suite 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. New or freshly painted pump jacks were nodding over recent discoveries. Sometimes there were more than 20 briefcases filed on the courthouse steps. What challenges? Whether Great River was closing the plant because it was losing tens of millions of dollars a year and its customers were demanding green energy, as it said, Potential new owner in talks to save North Dakota's largest coal-fired plant, Marked for closure, North Dakotas biggest coal-fired power plant looks for a new tech lifeline, McFeely: Report blasts expensive ND project meant to save coal plant, Workers, communities fear closing North Dakota's largest coal plant will destroy their way of life, North Dakota's largest coal-fired power plant will shut down in 2022 unless new buyer can be found, Lawmakers passed several bills meant to buoy the coal industry, A 2013 New York Times article on North Dakota's oil boom included a mini-profile of Kopseng, state leaders are championing the idea North Dakota could become a world leader in carbon-capture technology. Mickie Riley, 40, second from right, with her family in their trailer in Williston. . Related To Stephanie Kopseng. The actual amount of the tax write-offs is controlled by Article IV of the Member Control Agreement. 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. [21]We conclude the trial court's finding the parties agreed the money investors were to get all the tax write-offs is clearly erroneous, and the trial court erred in ruling Jundt was not entitled to claim any of the tax write-offs. The memo Kopseng prepared dated February 10, 1997, (Exhibit 402), to begin this whole process specifically provided in the third full paragraph: The financial aspects of the corporation are that the silent partners are to put up the money and derive all writeoff's during the firm's conception and initial payout period so there will be a before and after payout scenario. Suddenly the state that never had anything is in the middle of an oil boom that is larger than anybody could have predicted. WebLoren Kopseng Active Bismarck, ND Chairman for Rainbow Energy Marketing Corporation (701)222-4909 Overview 6 Companies 15 Connections 4 Locations He began studying for his pilots license as a freshman in college. Web/ NORTH DAKOTA / BISMARCK / Pine Gas Gathering L L C; Pine Gas Gathering L L C. Get a D&B Hoovers Free Trial. It was almost possible to imagine the land as it appeared to Lewis and Clark when the Corps of Discovery came up the Missouri in 1804 but only if you looked past the toy-size trucks crawling west on Interstate 94 with drill pipe and water tanks; and the locomotives lumbering east with hundred-unit trains of black oil-tanker cars in tow. We simply want to ensure the most efficient and environmentally sound method of utilizing our precious coal and water resources for the benefit of the broadest number of people possible. Theres a lot of other people out there that are still living in trailers and stuff. Cloud Enters., Inc., 301 Minn. 261, 222 N.W.2d 83, 86 (1974). But its just happening too fast. WebAt the Bismarck State College Foundation, we are fortunate to have the support of many individuals and organizations across our community, state, and beyond, to provide financial support to students so that they can pursue their education and reach their career goals. A construction water tank at a new home development west of Williston. We circled around the southern end of the basin above Dickinson, then flew west and north above the willows in the ravines and coulees of the Little Missouri River. 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. On Friday and Saturday nights, it gets so crowded that they open up a lower floor. Section 10-32-86(1), N.D.C.C., requires a governor of a limited liability company to discharge his or her duties in good faith. Whether or not an officer has misappropriated a corporate opportunity does not depend on any single factor. Brandi: I get my nails done here at one of the nicer salons, and my nail lady makes about $5,000 a month, so I was going to go work with her. Last February he wrote in The Bismarck Tribune that the states politicians were not hearing what everyday people out here are saying that is, stop the oil madness wreaking havoc with the land, wildlife and Western heritage weve long cherished. Not long before, the Crosby Journal editor Cecile Krimm called the region an economic disaster area, citing swamped sewage systems, crumbling roads, dizzy rents and labor shortages as reasons that officials ought to be trying to brake a runaway train. The majority owners impliedly disclosed to themselves and to Jurassic all of the relevant facts about Jurassic's asserted corporate opportunity to purchase WBI properties and elected to forego the opportunity. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile All Companies Named UET 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. They were visiting Dans father in Williston on their way to Big Sky, Mont., where Matt works at a ski resort. One of the more curious aspects of oil development in North Dakota is that the people making arguments against rampant growth, environmental degradation and the messy business of extracting oil are somewhat few and far between, proverbial voices in the wilderness. The Court intends through its equitable resolution to end all controversy among the parties so they can all get on with their own endeavors free and clear of any concern about anything anyone is doing with Jurassic. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile All Companies Named UET The company has 3 contacts on record. In a way, of course, this kind of frontier is as much a state of mind as an actual place, a melancholy mood you cant shake as you drive all day in a raw spring rain with nothing but fence posts and featureless cattle range for company thinking, Is this all there is? Infinity nagged at the scale of things. Jundt asserted the defendants breached their fiduciary duty to Jurassic by diverting a Jurassic business opportunity to Montana Heartland, which is owned by the corporate Jurassic owners. In his bag are clothes for his two-week rotation. People Search 861.10 (2002 Rev. Gloria Fronk Sun Lakes, AZ. We were a graying community. Its all but impossible to find a place to stay in Williston, but on weekends many oil workers clear out, and I was lucky to get a motel room with a cracked plastic bathtub that had been cleverly patched with duct tape. The plaintiff's claims against the defendant Loren R. Kopseng are DISMISSED WITH PREJUDICE. Most of the Bakken oil is tight. The rocks are not porous and permeable enough for the oil to flow on its own. Now. If you drill to the east of that, youre dead.. Please try again. Well after well, 6,000 or more. I think the only oil-field one Ive done is this guy who got a bunch of worms on his arm. Nearly 40 years ago, when the boom of the moment was lignite coal, not oil, Link gave a speech at an annual meeting of the North Dakota Rural Electric Association. Traffic used to be so scarce that drivers would wave as they passed an oncoming car; now there are record numbers of accidents. Now people dont think that number is as crazy as it seemed. Such implied disclosure and consent to Montana Heartland's acquisition is a permissible inference. 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. The same article said United Energy in 2012 earned a net profit of $44.8 million on revenues of $5.7 billion. 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. And then we were off, banking over the low-slung rooftops that ring the states Capitol, an 18-story stone-and-concrete landmark built in 1934. 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. Yet in the midst of so much empty, untrammeled land, the roaring fires and messy drill pads didnt evoke images of industrial blight like the apocalyptic black wastes of the Alberta tar-sands operations or the eaten-off mountaintops of West Virginia coal country, or for that matter, the landscape of New Jersey around the port of Newark. Johnson, 21, commutes nine hours from Pennock, Minn., where hes from, to North Dakota to work in construction. Get the latest business insights from Dun & Bradstreet. Jundt cross-appealed, contending the trial court improperly granted summary judgment on part of his claim when it determined the defendants did not breach their fiduciary duty to Jurassic when they diverted a business opportunity (the acquisition of oil and gas properties controlled by WBI in the Pine Gas Field) belonging to Jurassic to Montana Heartland, which was owned by all of the corporate Jurassic owners. We skimmed along the Montana border, then banked east over the confluence of the Yellowstone and Missouri Rivers. Reviews. 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, Matt Kingsley, 23, center, and his friend Dan Bashore, 22, right, are from Grand Ledge, Mich. [20]Jurassic's Member Control Agreement executed on January 26, 1998, does not provide that the money investors were to get all the tax write-offs. Questions Post Question There are no questions yet for this company. Id. WebLoren was born on 06.25.47. Relatives & Associates. Dynamic search and list-building capabilities. Why United Energy? With Russell handling the financial side, Kopseng acquired distressed oil and gas wells in the Williston Basin. Every time we went out to a bar or anything like that, we were getting offered jobs for the oil, Kingsley says. Differences arose and Jundt left in 1999. Generally the formation was too thin to provide a worthwhile pay zone for a vertical well. In 1984, at a particularly low ebb, he met Don Russell, a merchant from Mandan, whod done well in the not-obviously-related businesses of peddling tires and packing meat. It feels as hard as a flagstone terrace. Summary. . It transports by rail 82,000 barrels of oil a day to refineries. Its that easy., Christina Knapp, 22, is a tattoo artist from Phoenix, Ariz. A couple of the guys I work with do a lot of the rig tattoos. If an oil company wants to put a well site on your land to search for minerals, its hard to deny them. And he says that the kind of development the boom era has brought is taking away the natural beauty of the land.. United Energy is part of the Energy, Utilities & Waste industry, and located in North Dakota, United States. 7. We tried to diversify our economy and create more permanent jobs. The first horizontal well in the Bakken was spudded by Meridian Oil in 1987, long before the current boom. North Dakotas last oil boom, 30 years ago, collapsed so quickly when prices crashed that workers in the small city of Dickinson left the coffee in their cups when they quit their trailers. Select this result to view Loren R Kopseng's phone number, address, and more. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. They have also lived in Mandan, ND. Link, will be quiet again., Link, who died in 2010, was a popular, plain-spoken Democrat who was born in the tiny town of Alexander in the heart of the Williston Basin a town that once opposed a bypass fearing it would dry up and die if Highway 85 were routed around it, and now is on the verge of choking to death on boom-truck traffic. Liquidation and partition are not appropriate equitable remedies in this case. . Valuable research and technology reports. The corporate defendants own two-thirds of the membership interest units. The downtown area was struggling for 25 years. The judgment and orders appealed from are otherwise affirmed. While coal backers have touted carbon capture and storage as a path to continued viability, it has never worked on a large commercial scale. The moneys very good out here, if you find someone to pay for your housing. [28]The judgment is reversed to the extent it ordered cancellation of Jundt's membership interest units in Jurassic, ordered payment of $300,000 to Jundt, and denied Jundt's claim to tax write-offs. As long as prices stay above $60 a barrel or so, oil will be a mainstay of the North Dakota economy for a generation or more. He began working for The Forum in the 1980s while he was a student studying journalism at Minnesota State University Moorhead. Also known as Dawn M Fronk, Dawn Kotseng. Loren is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. Ed.). The only thing you got within 60 miles is either go to a bar at night or go to the casino, and Im not much for drinking and dont like to gamble, so you kind of go stir crazy., Greg Hoeft, 31, hotshot for Petroleum Services. . Some of the most tangible effects of the boom have been tattooed into the roads. 5. Its hard to think of what oil hasnt done to life in the small communities of western North Dakota, good and bad. The Registered Agent on file for this company is Loren R Kopseng and is located at 919 S 7th St Ste 405, Bismarck, ND 58504-5835. 359, 667 P.2d 804, 813 (1983) (Where company president disclosed opportunity to purchase property to shareholders, company was financially incapable of making the purchase, shareholders failed to object to president's purchase of the property, [t]he only reasonable inference from such facts is an implied consent by the shareholders.). WebThe Registered Agent on file for this company is Kurt Batenhorst and is located at 20405 State Highway 249, Suite 850, Houston, TX 77070. We brought in a plant to split and polish peas. An abandoned building off Highway 23 in the Williston Basin. 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. Dawn M Kopseng, 75. 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. While they were buying houses and investing in mutual funds, he was in debt-work-out negotiations with Halliburton. WebTop 2 Results for Loren Kopseng in Bismarck, ND 1 The best result we found for your search is Loren R Kopseng age 40s in Bismarck, ND in the Wachter's neighborhood. 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. Its our gold rush, our Silicon Valley. 15. "Kopseng first came down with oil fever in the late 1970s, when fortunes were being made domestically in the wake of the OPEC oil embargo. A. The twice-a-month town-commissioner meetings that used to take 45 minutes can now run from 6 p.m. to midnight. He struggled for five years, learning expensive lessons. There was undisguised horror in Kopsengs voice when he realized I had been obliged to open an airsickness bag in the back seat. Financial inability justifies a corporation in rejecting an opportunity. . 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. Jundt and Kopseng formed Jurassic. 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. 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. It took me all night. 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. Accordingly, the trial court was without authority to grant equitable relief under N.D.C.C. We conclude the trial court did not err in granting summary judgment dismissing Jundt's claim the defendants diverted a Jurassic business opportunity to Montana Heartland. The biggest danger on many dirt and gravel roads is blinding plumes of dust. But as the volume of oil in the Bakken shale is still a moving target, and recovery techniques are increasingly sophisticated, some estimates put the life of the Bakken play, and the attendant upheaval it is causing in North Dakota, at upward of a hundred years. A party opposing summary judgment must present evidence raising an issue of material fact. 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. 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. WebKopseng Loren in Bismarck, reviews by real people. AVERAGE AGE. Dawn is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. at 22. Word on the street in Bismarck recently, the open secret even, was that Kopseng was the name connected to buying Coal Creek, the massive power plant slated for closure in 2022 by its current owner, Great River Energy of Minnesota. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile Learn About Our Pro Search I said I was just going to coast into retirement, and then all hell broke loose, says Walt Peterson, the Williston district engineer for the highway department. (3)The members of the limited liability company are so divided in voting power that they have failed to elect successors to governors whose terms have expired or would have expired upon the election and qualification of their successors; (4)The limited liability company assets are being misapplied or wasted; or. U.E.C. Were gonna do a three-year stint. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. 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. Loren Kopseng, Ryan Kopseng. Lodge, Inc. v. Roland Township, 2002 ND 140, 21, 651 N.W.2d 625 (citations omitted). It states, in part: Michael Schmitz, a certified public accountant called as a witness by the defendants, testified that loss to Mr. Jundt [would] be a passive loss, which is suspended until he can use it, and there is [n]o limitation on a carry-over. He testified on cross-examination that Jundt was entitled to tax write-offs: Q.Mr. Schmitz, if Mr. Jundt was entitled to his membership interest on February 1, 1999, wasn't he entitled to receive the portion of the tax write-off's attributable to that interest after that date? Its been called North Dakotas Gettysburg Address., We do not want to halt progress, the governor said. [4]Jurassic's initial operating agreement executed on January 26, 1998, named the following individuals to Jurassic's Board of Governors: Jundt; Donald Russell, President of Missouri River; Loren Kopseng, President of Rainbow Gas; and Stacy Tschider, President of Rainbow Energy. The dust busters in Williams County discovered that spraying a soy-based oil works well, but it isnt practical because it makes the roads taste so good that cows come out of the fields and try to eat them. By 2010 it had climbed to fourth. Its new life, new families moving in. , saying "you won't find a better ambassador of what the oil industry calls 'the play' in western North Dakota than Loren Kopseng. Perm. In July 2012, monthly oil output reached 20.97 million barrels, and North Dakota was the largest oil producer in the country after Texas. And then again in the late 70s, when the boom was driven by rising oil prices. [6]Jurassic's member control agreement, executed on January 26, 1998, provides in part: 3.08Additional Capital Contributions. Two dozen horn-handed men were bent over their lunches in an airport-motel restaurant; the only women in the place were the waitresses.
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