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. All rights reserved. Jurassic began a program of gas exploration and production. United Energy Location 919 S 7th St Ste 405, Bismarck, North Dakota, 58504, United States Description Read More Industry Significant amounts of Bakken oil were produced from conventional vertical wells beginning in 1961, but for many years the formation was considered problematic: you had to be lucky or skillful enough to find an area of the shale that was naturally fractured. But were still trying to feel things out. By 2010 it had climbed to fourth. Loren Kopseng, Bismarck Public Records Instantly WebDawn M Kopseng, 75 Resides in Bismarck, ND Lived In Mandan ND Related To Sander Kopseng, Loren Kopseng, Ryan Kopseng, Leah Kopseng Includes Address (3) Phone (1) See Results Dawn M Gittel, 51 Resides in Bismarck, ND Lived In Mandan ND, Gilbert AZ Related To Jayden Gittel Also known as Dawn M Schumacher, Dawn Gittle, Dawn M What made people rethink the viability of the Bakken was horizontal drilling. Loren Kopseng Bismarck, ND. Flying was Kopsengs dream job before he got the idea of building an oil company. 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. Monthly oil production, which peaked in 1984 at 4.6 million barrels, fell to half and then went sideways for nearly a quarter-century. Dawn is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. 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. Rainbow Energy Marketing Corp. a subsidiary of United Energy Corp., a Bismarck-based firm run by the oil tycoon Loren Kopseng has never owned a coal-fired power plant. at 862.10. He is working to earn a G.E.D. 10-32-119(1) authorizes a court to grant such equitable relief in only limited circumstances: 1. They have also lived in Mandan, ND. A 2013 New York Times article on North Dakota's oil boom included a mini-profile of Kopseng Down below, dust clouds were boiling around a convoy of trucks hauling frack water and equipment on a county road. 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. Arthur A. 8. Comprehensive company profiles. Brent Sanford spearheaded a high-priority effort to find a buyer to keep the plant operating. After the plane was replenished with $147 worth of aviation gas, we headed east toward Bismarck. This whole area was a field two years ago, he said. 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. 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. 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. Id. Loren Kopseng - $5,400 in Political Contributions for 2010 Dawn M Kopseng, 75. But I wouldnt mind going and working somewhere that does pay for stuff like that.. , saying "you won't find a better ambassador of what the oil industry calls 'the play' in western North Dakota than Loren Kopseng. Completion of Coal Creek sale marks 'day of - Bismarck Tribune Koeser, a 63-year-old former math teacher whose grandfather came to North Dakota to farm in 1901, started a communications company that sold field radios during the oil boom of the early 80s. [24]In granting the defendants' motion for summary judgment with regard to the Montana Heartland issue, the trial court said: The defendants' Motion for Summary Judgment Re: Montana Heartland is GRANTED to the extent the Court finds the WBI leases acquired by Montana Heartland were not a business opportunity that belonged to Jurassic, and thus the value of Jurassic does not include the value of the now developed WBI leases owned by Montana Heartland. 10-32-119(1) have been established. North Dakota Went Boom - The New York Times Jundt clearly knew and understood all the write-offs would go to the money investors. 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. They have also lived in Queen Creek, AZ and Bismarck, ND. 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. The transient people are more the single guys. . Russell, who died in 2011, also wanted to get into oil and gas. Its hard to say whether the hope and grandeur of that vision are deeper than its delusions. [11]The parties stipulated to the appointment of a special master. The order also provided: The Special Master shall submit its draft report and preliminary appraisals to the parties for comment by November 9, 2001. The Members acknowledge that the Company will be treated as a partnership for tax purposes. 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. . Keep an eye out for radio towers, Kopseng said over the headset. Laura Louise Kopseng-Klein, 85, 1015 N. Third St., Bismarck, died Nov. 20, 2001, at Medcenter One Health Care Center, Bismarck, from complications of Parkinson's disease. We affirm in part, reverse in part, and remand for further proceedings. Oil has financed multimillion-dollar recreation centers and new hospital wings. , while the attached Falkirk Mine, operated by North American Coal, supports several hundred more jobs. 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. This is the boom that wont leave the land trashed, wont destroy communities, wont afflict the state with the so-called Dutch Disease in which natural-resource development and the sugar rush of fast cash paradoxically make other parts of the economy less competitive and more difficult to sustain. 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 actual amount of the tax write-offs is controlled by Article IV of the Member Control Agreement. 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. He struggled for five years, learning expensive lessons. Thats the line of death, Kopseng said. 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. [10]Jurassic, Missouri River, Rainbow Gas, and Rainbow Energy contend the district court abused its discretion in awarding Jundt $300,000 as an equitable remedy. The matter is remanded for further proceedings in accordance with this opinion. 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. Four tests have been established as standards for identifying a corporate opportunity: the line of business test, the interest or expectancy test, the fairness test, and the ALI test. 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. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: KOPSENG, LOREN R BISMARCK, ND 58503: UNITED 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. 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. WebThe Registered Agent on file for this company is Loren Kopseng and is located at 919 South 7th Street Suite 405, Bismarck, ND 58504. Burgum's administration in March announced that Great River moved into exclusive negotiations with a prospective new owner for the plant. [6]Jurassic's member control agreement, executed on January 26, 1998, provides in part: 3.08Additional Capital Contributions. 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. He just didn't confirm it. We see that you have javascript disabled. [14]The defendants contend the trial court did not apply the clearly erroneous standard required by N.D.R.Civ.P. 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 . Loren has reached 74 years of age. The parties may file comments with the Court and Special Master by November 16, 2001 pursuant to Rule 53(f)(5). The defendants assert the debt and capital contributions the defendants had in Jurassic at that time totaled $5,568,000, leaving Jurassic with a negative value. when the last bulldozer has pushed the last spoil pile into place, and the last patch of barren earth has been seeded to grass or grain, let those who follow and repopulate the land be able to say, our grandparents did their job well. 3 Fletcher Cyc. Brandi had plans to attend beauty school. FindLaw.com Free, trusted legal information for consumers and legal professionals, SuperLawyers.com Directory of U.S. attorneys with the exclusive Super Lawyers rating, Abogado.com The #1 Spanish-language legal website for consumers, LawInfo.com Nationwide attorney directory and legal consumer resources. Across the highway, workers were pouring concrete for a new Fuel Force gas station and rolling out sod on a fresh tract of homes. While they were buying houses and investing in mutual funds, he was in debt-work-out negotiations with Halliburton. There was no showing of a corporate opportunity Jurassic had the financial ability to pursue. Its hard to think of what oil hasnt done to life in the small communities of western North Dakota, good and bad. Every time we went out to a bar or anything like that, we were getting offered jobs for the oil, Kingsley says. JUNDT v. Loren R. Kopseng, Defendant. (2003) | FindLaw 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. Ryan Kopseng - Executive Vice President - United Energy - ZoomInfo This is the boom being managed by local people certain they know how to look after their interests and safeguard the land they live on. He pulled on a green Fighting Sioux sweatshirt and climbed into the cockpit of his Aviat Husky, a maroon-and-yellow single-engine plane with two seats, one behind the other. In a worse case scenario of Jurassic ultimately losing money, it will be to the advantage of the defendants for them to be able to control the final crash of Jurassic. Production from a typical Bakken well declines rapidly but on average produces modest amounts of oil for 45 years and earns a profit of $20 million. 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. Lookup the home address and phone 7012261617 and other contact We, therefore, conclude the trial court abused its discretion in ordering the corporate defendants to pay Jundt $300,000 in exchange for his membership interest units as an equitable remedy. Karen Kopseng Obituary (2006) - Bismarck, ND - The Bismarck 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. Website: www.uecorporation.com South of the river, the boundary was marked by Highway 49. 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. Court Records. I dont like North Dakota. Meanwhile you can send your letters to PO BOX 837, BISMARCK, ND, 58502-0837. In 2012 the company earned a net profit of $44.8 million on revenues of $5.7 billion. 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. I hate the wind. They raised our rent from like $900 a month to, well she wanted $1,500 deposit and $2,500 a month. Nor have any grounds for ordering a sale of membership interests under N.D.C.C. 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.. 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. 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. Principal. 7. Curtis D. JUNDT, Plaintiff and Appellant, v. JURASSIC RESOURCES DEVELOPMENT, NORTH AMERICA, L.L.C., a North Dakota limited Please try again. 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. Loren Kopseng OfficialUSA.com Records 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.). Kopseng Almost half of the kids that are there are from out of state. He has since dropped out and is busing tables at Grandma Sharons Family Restaurant. The locals here are great people. 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. Early treatments there were called Hail Mary fracks because geologists and engineers would just drill a well, pump in frack fluid and pray for a robust result. Plane makes emergency landing at Bismarck airport . Jundt has failed to carry his burden of proof as what he has offered is far too speculative. There is evidence supporting the court's finding that Jurassic's debts exceeded the appraised value of its assets. Theres so many companies that are providing housing. All tax write-offs were by agreement of the parties to go to the money investors in the business venture they mutually agreed to pursue. Q. UET SHIPPING, LLC, LIMITED LIABILITY CORPORATION 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. 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. At a motions hearing, one of the defendants' attorneys told the court: We don't want [Jurassic] to be liquidated. WebFind company research, competitor information, contact details & financial data for Jurassic Resources Development North America, LLC of Bismarck, ND. 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.'". 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. But you just got so much influx from Texas, Louisiana, Pennsylvania, California, and people are just rude and inconsiderate. Infinity nagged at the scale of things. No member shall have any obligation to make additional capital contributions to the Company or to fund, advance, or loan monies which may be necessary to pay deficits, if any, incurred by the Company during the term hereof. He always worked he helped his parents run apartment buildings in Bismarck, and for six summers starting at age 12, he fed the chickens and pigs and bucked hay and branded cattle at his grandparents ranch in Slope County in the western part of the state. at 22. Reviews. The trial court's judgment dismissed Jundt's claims against Kopseng and ordered the corporate defendants to cancel Jundt's membership units in Jurassic and pay him $300,000. Lodge, Inc. v. Roland Township, 2002 ND 140, 21, 651 N.W.2d 625 (citations omitted). Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. Below was the country of the Missouri Slope, where homesteaders discovered the fallacy that rain followed the plow. Loren Kopseng While they were buying houses and investing in mutual funds, he was in debt-work-out negotiations with Halliburton. Select this result to view Loren R Kopseng's phone number, address, and more. Its a very solitary existence, being up there. 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. [3]Jundt left his position with Williston Basin Interstate Pipeline Company (WBI) in 1997 and became an employee of Rainbow Gas. U.E.C. Over and over again, almost every single conversation I had, I ended up talking about Walmart, says Soth, the photographer. Fully understanding its equitable resolution is not based on gas reserves, future prices or future costs, and fully understanding it has made no adjustments whatsoever as to the value of Jurassic based on any claims of Jundt, and fully understanding the debts owed by Jurassic to BNC National Bank and the corporate defendants, the Court finds that the equitable resolution of this case is the AWARD OF A JUDGMENT TO JUNDT AGAINST JURASSIC AND THE CORPORATE DEFENDANTS IN THE AMOUNT OF $300,000. 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. And then suddenly there were oil wells. Devon Fox (foreground) and Taven Fox (background) near New Town, N.D., at Fort Berthold Indian Reservation. 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. WebLoren Kopseng Active Bismarck, ND Chairman for Rainbow Energy Marketing Corporation (701)222-4909 Overview 6 Companies 15 Connections 4 Locations Relatives & Associates. [9]The corporate defendants appealed, contending the trial court abused its discretion in awarding Jundt $300,000 as an equitable remedy. 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.
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