Lookup the home address and phone 7012261617 and other contact He struggled for five years, learning expensive lessons," the Times reported. Even a well-publicized investigation by the news Web site ProPublica that reported that there were more than 1,000 accidental releases of oil, drilling wastewater and other fluids in North Dakota in 2011 passed without much fuss. And perhaps, given the states history of hardship, they dont feel entitled to qualms about social and environmental costs; maybe ambivalence about fat years seems self-indulgent, a failure to appreciate how lean life on the frontier once was and could well be again. WebCompany Contacts LOREN KOPSENG Officer 919 S 7th St Unit 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. , He seemed stunned by the pace of change; or maybe just exhausted. Loren Kopseng - Address & Phone Number | Whitepages 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. 9. Loren has reached 74 years of age. 4.01Tax Characterization and Returns. I tried for almost a year to apply online and calling people and no one would hire me. Oil has financed multimillion-dollar recreation centers and new hospital wings. 14. Lived In Mandan ND. Every day is different.. After the plane was replenished with $147 worth of aviation gas, we headed east toward Bismarck. Well after well, 6,000 or more. 3 Fletcher Cyc. Theres no way to be right. It has confounded kids running lemonade stands: 50 cents a cup but your customer has only hundreds in his payday wallet. A party opposing summary judgment must present evidence raising an issue of material fact. 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. Estimates have been continuously revised upward since a 1974 figure of 10 billion barrels. Jundt has failed to carry his burden of proof as what he has offered is far too speculative. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: KOPSENG, LOREN R BISMARCK, ND 58503: UNITED Petroleum geologists have known the cookie was full of light, sulfur-free oil since 1953, but they didnt know exactly how much or how to extract it economically. WebThe Registered Agent on file for this company is Kurt Batenhorst and is located at 20405 State Highway 249, Suite 850, Houston, TX 77070. At a motions hearing, one of the defendants' attorneys told the court: We don't want [Jurassic] to be liquidated. The actual amount of the tax write-offs is controlled by Article IV of the Member Control Agreement. 8. We see that you have javascript disabled. WebTop Result for Dawn Kopseng. 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. d.In an action by the attorney general to dissolve the limited liability company in accordance with section 10-32-122 when it is established that a decree of termination is appropriate. 861.10 (2002 Rev. 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. The Special Master shall file its final report and appraisals with the Court on November 26, 2001 and serve copies on the parties The parties shall advise the Court on November 27, 2001 if they intend to file objections to the Report pursuant to Rule 53(f)(2). We may head closer to Bismarck, you know. In an action by a member when it is established that: (1)The governors or the persons having the authority otherwise vested in the board of governors are deadlocked in the management of the affairs of the limited liability company and the members are unable to break the deadlock; (2)The governors or those in control of the limited liability company have acted fraudulently, illegally, or in a manner unfairly prejudicial toward one or more members . Russell, who died in 2011, also wanted to get into oil and gas. Were smack-dab in the middle of an Indian reservation. 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. That's why Lt. Gov. Many thousands more will be spudded in the next two years as the boom moves from discovery to production and crews drill infill wells, complete pipelines, fortify roads, enlarge refineries and build natural-gas pumping stations and oil-loading train yards. McFeely: North Dakota company appears poised to buy 10-32-119(2) been established. Lodge, Inc. v. Roland Township, 2002 ND 140, 21, 651 N.W.2d 625 (citations omitted). Sometimes Loren goes by 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. Loren Kopseng With Russell handling the financial side, Kopseng acquired distressed oil and gas wells in the Williston Basin. A. Now. Kopseng The company's principal address is 919 S 7th Street Suite 405, Bismarck, ND 58504-5835. . The initial members of Jurassic were Missouri River, Rainbow Gas, and Rainbow Energy. [17]However, N.D.C.C. After he married and started a family, it was his wifes friends who looked at him sideways. It is equitable for a JUDGMENT to be AWARDED in favor of the PLAINTIFF against the remaining defendants canceling the plaintiff's membership interest units in Jurassic Resources Development North America, L.L.C., a North Dakota Limited Liability Company, and requiring the remaining defendants to pay the sum of $300,000 to the plaintiff. 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. This practice raises the atmospheric levels of carbon dioxide, the gas primarily responsible for global warming. 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. Loren Kopseng in Bismarck, ND - Address & Phone The locals here are great people. JUNDT v. Loren R. Kopseng, Defendant. (2003) | FindLaw 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. Multiply that by hundreds of annual new wells, and its clear why county and state highway departments are engaged in an epic struggle against potholes, rutting, asphalt shoving, alligator cracking and other pavement maladies. 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. WebAddress: 919 S 7TH St Ste 405 Bismarck, ND, 58504-5835 United States See other locations Phone: Website: www.missouririverroyalty.com Employees (all sites): Actual Completion of Coal Creek sale marks 'day of - Bismarck Tribune In 1997 he and Russell consolidated various energy-related businesses into the privately held United Energy Corporation. But its also geology, chemistry, business. The Members acknowledge that the Company will be treated as a partnership for tax purposes. Previously city included Mandan ND. JUNDT v. Loren R. Kopseng, Defendant. (2004) | FindLaw The wind and the cold.. It has minted millionaires, paid off mortgages, created businesses; it has raised rents, stressed roads, vexed planners and overwhelmed schools; it has polluted streams, spoiled fields and boosted crime. There was undisguised horror in Kopsengs voice when he realized I had been obliged to open an airsickness bag in the back seat. If United Energy's purchase of Coal Creek Station is finalized and announced in a couple of weeks, North Dakota leaders will undoubtedly point to the state as a pioneer that is working toward a way to keep its coal industry relevant in the face of pressure from progressive politicians and climate-change activists. WebUnited Energy Corp. CEO and President Loren Kopseng, left, and Gov. But they had to have the tool there, you know?. 4. 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. We kind of liken it to being in the military, you know. Or that he denied it at all. 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. But I wouldnt mind going and working somewhere that does pay for stuff like that.. The Bakken today contains some of the longest horizontal wells in the world, laterals that extend as far as three miles from the drill pad to otherwise unreachable oil under Lake Sakakawea or beneath the Williston airport. 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. It reverses decades of anxiety about out-migration and rural decline and death. Just how much oil is in the Bakken is still unknown. employs almost 250 people North Dakota Went Boom - The New York Times 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. 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. He is working to earn a G.E.D. Doug Burgum deferred questions about Coal Creek to Great River Energy, which declined comment citing nondisclosure agreements with potential buyers. (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. 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. The only problem you got is if you move in with somebody that you dont like very much. 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. The cases and commentators generally recognize the existence of a rule or doctrine of corporate opportunity, although there is confusion as to the manner in which it is to be applied. . 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. Its the center of the culture, in a lot of ways.. As a subscriber, you have 10 gift articles to give each month. [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. 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. Copyright 2023, Thomson Reuters. 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. They had names like Bakken Heights and Harvest Hills. The order also provided: The Special Master shall submit its draft report and preliminary appraisals to the parties for comment by November 9, 2001. . There is evidence supporting the court's finding that Jurassic's debts exceeded the appraised value of its assets. They just said, We need young bucks.. The trial court's order appointing the Ryder Scott Company as a special master to provide fair market appraisals of specified properties does not specifically require the special master to make findings of fact or conclusions of law. AVERAGE AGE. The defendant Loren R. Kopseng has not deliberately acted to oppress the plaintiff in his management or member interest units in the company. What may be even more remarkable than the growth of the past two years is the extent to which the oil comes from one group of rocks. Loren Kopseng OfficialUSA.com Records There was no showing of a corporate opportunity Jurassic had the financial ability to pursue. Over and over again, almost every single conversation I had, I ended up talking about Walmart, says Soth, the photographer. . 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. Jundt contends the trial court improperly granted summary judgment dismissing his claim the Jurassic defendants breached their fiduciary duty to Jurassic by diverting a Jurassic business opportunity to Montana Heartland. Of the 20 oil-producing geological formations in the Williston Basin including some like the Madison that have yielded large volumes of oil for decades the Bakken Formation now accounts for 91 percent of North Dakotas oil production. Valuable research and technology reports. It also authorized the managing governors to issue Jundt a member certificate for 4,925 membership units (32.833 percent of 15,000 total membership units), as well as 75 units to two other individuals, after the payout of the capital contributions and interest to Missouri River Royalty Corp., Rainbow Gas Company, and Rainbow Energy Marketing Corp.. A.C. Petters Co., Inc. v. St. 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. 10-32-119(1) authorizes a court to grant such equitable relief in only limited circumstances: 1. WebLoren Kopseng, the pilot of the Piper Cheyenne, brought the plane down at a little after 9 p.m. on the airport's secondary runway. Jundt is not an owner of Montana Heartland. Later, they and others formed a number of other companies, including Rainbow Gas, Corps. WebThe second best result is Loren R Kopseng age 40s in Bismarck, ND in the Wachter's neighborhood. From the Husky, it was easy to overlook environmental issues and fathom the appeal of oil development easy to see the allure of a derrick dressed up in lights and looming 10 stories over a desolate landscape where the leading academic solution to social and economic stagnation had been to surrender and let the land lapse into buffalo commons. [2]In 1984, Loren Kopseng and Donald Russell formed Missouri River. 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. Some well sites were tucked in the lee of ravines or perched on bluffs or strung out along the line of a county road, one per mile, like square coasters on a bar. The corporate defendants own two-thirds of the membership interest units. Lawmakers passed several bills meant to buoy the coal industry 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. He began working for The Forum in the 1980s while he was a student studying journalism at Minnesota State University Moorhead. Bismarck WebTop Result for Ryan 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. We skimmed along the Montana border, then banked east over the confluence of the Yellowstone and Missouri Rivers. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. Loren Kopseng - $5,400 in Political Contributions for 2010 The trial court concluded, among other things: 12. Jurassic Resources Development North America, LLC It has now leveled off at around 200, as thousands of wells have been completed under deadline pressure to secure expiring mineral leases. The defendants acknowledged the plaintiff was entitled to his 4,925 membership interest units in Jurassic Resources Development North America, L.L.C., a North Dakota Limited Liability Company, effective March 9, 2000. Probably the loudest of these is John Heiser, a fourth-generation North Dakotan rancher and part-time park ranger who lives near Grassy Butte, and who has been railing against the pace of the boom from the start. . They have also lived in Mandan, ND. 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. Theres a kind of exhaustion thats in the air everywhere, says Soth, the photographer. But its just happening too fast. [A] director is not required to use his or her own money or credit to finance the business of the company. Id. We got new trailers that we live in. The managing governors of Jurassic that were representing the corporate owners of Jurassic membership interest units and owned Montana Heartland knew Jurassic was negotiating to acquire WBI properties before Jundt left Jurassic, and, therefore, knew of the opportunity. The members will be repaid their contributions at the time the present value of the proven reserves discounted by using the present value discounted at 30%; plus other assets of the company exceed the past capital contributions and any accrued future capital contributions plus interest calculated at the prime rate of BNC Bank of Bismarck. The parties may file comments with the Court and Special Master by November 16, 2001 pursuant to Rule 53(f)(5). He's been with The Forum full time since 1990, minus a six-year hiatus when he hosted a local radio talk-show. WebSupreme Court of North Dakota. Within 90 days after the end of each fiscal year, the President will cause to be delivered to each person who was a Member at any time during such fiscal year a Form K-1 and such other information, if any, with respect to the Company as may be necessary for the preparation of such Member's federal or state income tax (or information) returns, including a statement showing each Member's share of income, gain, or loss and credits for such fiscal year for federal or state income tax purposes. Most of the Bakken oil is tight. The rocks are not porous and permeable enough for the oil to flow on its own. 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. Liquidation and partition are not appropriate equitable remedies in this case. 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. 7. 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. Some of the most tangible effects of the boom have been tattooed into the roads. People asked me why I dont gamble, Kopseng said, digging into his lunch. 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. . Under any test, a corporate opportunity exists when a proposed activity is reasonably incident to the corporation's present or prospective business and is one in which the corporation has the capacity to engage. Select this result to view Dawn M Kopseng's phone number, address, and more. 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. Select this result to view Loren R Kopseng's phone number, address, and more. 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.
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