employs almost 250 people Home sales dipped 20% in Fargo-Moorhead. 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. Loren is related to Sander Kopseng and Stephanie Nicole Peterson as well as 3 additional people. WebKopseng Loren in Bismarck, reviews by real people. Pickup trucks were waiting in long lines for drive-through dinners at Hardees. According to United's website, it "purchases, transports, stores and sells over 1 million barrels of crude oil per day.". . South of the river, the boundary was marked by Highway 49. [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.. 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. The Members acknowledge that the Company will be treated as a partnership for tax purposes. 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 Differences arose and Jundt left in 1999. 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.. coach Phil Jackson. We may head closer to Bismarck, you know. A construction water tank at a new home development west of Williston. The trial court awarded Jundt $300,000 for his membership units in Jurassic. 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. All rights reserved. Loren Kopseng Bismarck, ND. While they were buying houses and investing in mutual funds, he was in debt-work-out negotiations with Halliburton. 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. 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. 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. The Court will use the report and appraisals, after considering any objections of the parties, to find the fair market values of any relevant properties to which the parties have not previously agreed to a method of valuation, distribution or liquidation. Arthur A. 7. A court may grant any equitable relief it considers just and reasonable in the circumstances or may dissolve, wind up, and terminate a limited liability company: a. 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. 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. We were a graying community. The trial court did not specifically adopt or reject the special master's determination 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. state leaders are championing the idea North Dakota could become a world leader in carbon-capture technology Its our gold rush, our Silicon Valley. The cases offer a variety of justifications for a corporation's rejection of an opportunity, including the corporation's financial inability to take the opportunity. Financial inability justifies a corporation in rejecting an opportunity. In a supervised voluntary winding up and termination pursuant to section 10-32-118; b. Its been called North Dakotas Gettysburg Address., We do not want to halt progress, the governor said. 10-32-119(2) been established. 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. WebSupreme Court of North Dakota. The store was selling showers: a half-hour of hot water for 10 bucks; $15 for a couple. 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. Sander Kopsengis linked to this address. What challenges? They just said, We need young bucks.. The ratio of men to women is about 5 to 1. 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. One rainy May morning, I headed out to see the oil patch by car, driving north from Bismarck 110 miles to Minot, then west on Route 2. I get paid to get dirty and filthy as I want all day., Left to right: Aaron Janiak, Andrew Johnson and Justin Schoessow. 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. at 22. The biggest danger on many dirt and gravel roads is blinding plumes of dust. It feels as hard as a flagstone terrace. Now. Its a very hard industry to break in to. I tried for almost a year to apply online and calling people and no one would hire me. I had a lot of lemonade wells, he sighed. At the time, North Dakota was ranked ninth among U.S. oil-producing states. Principal. Co., 2002 ND 148, 5, 651 N.W.2d 683. Missouri River, Rainbow Gas, and Rainbow Energy invested money in Jurassic, and were issued a total of 10,000 membership units. 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. 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. 10. And then again in the late 70s, when the boom was driven by rising oil prices. As a subscriber, you have 10 gift articles to give each month. 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. 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 collapse of North Dakotas last oil boom, 30 years ago, left unfinished developments and deserted homes in its wake. 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. . Ed.). Its a very solitary existence, being up there. 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. We brought in a plant to split and polish peas. 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 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. 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. "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.". 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. This whole area was a field two years ago, he said. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. What made people rethink the viability of the Bakken was horizontal drilling. My husband and I both grew up as military kids, so were just doing whats gotta be done to help us move forward.. [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. Just how much oil is in the Bakken is still unknown. But were still trying to feel things out. Apart from a few fanatics who sometimes turned up at midnight, the landmen would begin arriving at the courthouse around 6 a.m. Brent Sanford spearheaded a high-priority effort to find a buyer to keep the plant operating. Dawn M Kopseng, 75. A dog inside a truck outside Hampton Inn and Suites, Williston, N.D. Customers waiting for Walmart to open. [14]The defendants contend the trial court did not apply the clearly erroneous standard required by N.D.R.Civ.P. It took me all night. 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. The first horizontal well in the Bakken was spudded by Meridian Oil in 1987, long before the current boom. We affirm in part, reverse in part, and remand for further proceedings. 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 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 struggled for five years, learning expensive lessons. (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? 10-32-119. None of the grounds specified in N.D.C.C. Below was the country of the Missouri Slope, where homesteaders discovered the fallacy that rain followed the plow. Koeser pulled over in the middle of a neighborhood that was nothing but curbs and driveways and empty lots. After the plane was replenished with $147 worth of aviation gas, we headed east toward Bismarck. "'I had a lot of lemonade wells,' he sighed. This is our time, Clay S. Jenkinson told me one morning over coffee at a Bismarck Starbucks, where he often goes to write. 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. 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. Any payment or transfer accepted by the Company from a Member which is not a capital contribution complying with Section 3.01 shall be deemed a loan and shall neither be treated as a contribution to the capital of the Company for any purpose hereunder, nor entitle such Member (as such) to any increase in such Member's Percentage Interest. By 2010 it had climbed to fourth. Suddenly the state that never had anything is in the middle of an oil boom that is larger than anybody could have predicted. Theres no way to be right. https://www.nytimes.com/2013/02/03/magazine/north-dakota-went-boom.html. 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. , saying "you won't find a better ambassador of what the oil industry calls 'the play' in western North Dakota than Loren Kopseng. Every day is different.. compared it to the headquarters of an insurance company, well-publicized investigation by the news Web site ProPublica. Select this result to view Dawn M Kopseng's phone number, address, and more. [29] WILLIAM A. NEUMANN, Acting C.J., JAMES M. BEKKEN,* D.J., MARY MUEHLEN MARING, and DALE V. SANDSTROM, JJ, concur. A. Apostles of Bakken gold insist that whats different this time is that this time is different, the history of frontier avarice notwithstanding. WebFind company research, competitor information, contact details & financial data for Jurassic Resources Development North America, LLC of Bismarck, ND. 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 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. 3 Fletcher Cyc. He is also concerned about the impact of well facilities on the community. Q. Brandi Wagner, 24, from Spokane, Wash., with her ex-boyfriend, Zachary Bolton, 27, a computer technician for American Casing and Equipment. You wont find a better ambassador of what the oil industry calls the play in western North Dakota than Loren Kopseng. Contact us. WebRelated To Sander Kopseng, Stephanie Kopseng, Loren Kopseng, Dawn Kopseng. Mr. G's Turtle Mtn. I love it. 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. It may also be that the lack of dissent reflects the way North Dakotans idealize themselves as more inclined to endure than to complain, certain it takes a special temperament to live in such forbidding country, where winters are brutal and culture is thin. In 1997 he and Russell consolidated various energy-related businesses into the privately held United Energy Corporation. The best result we found for your search is Dawn M Kopseng age 50s in Mandan, ND. Curtis D. JUNDT, Plaintiff, Appellee and Cross-Appellant, v. JURASSIC RESOURCES DEVELOPMENT, North America, L.L.C., a North Dakota limited liability company, Missouri River Royalty Corp., Rainbow Gas Company, Rainbow Energy Marketing Corp., Defendants, Appellants and Cross-Appellees, Loren R. Kopseng, Defendant. They have also lived in Mandan, ND. 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. 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 defendants contend the trial court abused its discretion in awarding Jundt $300,000. 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. 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. At that moment, 209 rigs were drilling fresh holes. Kevin Tschetter, 34, hauls water to and from active wells for KNS Enterprises. Water trucks in the parking lot wore petticoats of mud. Williston has hired nine cops in the last two years, trying to keep up with the crime rate, which was booming along with everything else. And then they would go back to their cars and trucks to wait with the engines running, their faces wreathed in coffee steam. I get to live every 5-year-old-kids dream. The parties may file comments with the Court and Special Master by November 16, 2001 pursuant to Rule 53(f)(5). Coal Creek On Friday and Saturday nights, it gets so crowded that they open up a lower floor. 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. Whether or not a given opportunity meets the requisite relationship is largely a question of fact to be determined from the objective facts and surrounding circumstances existing at the time the opportunity arises. See All Contacts. Select this result to view Loren R Kopseng's phone number, address, and more. U.E.C. Relatives & Associates. 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. 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. 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. Jundt and Kopseng formed Jurassic. Please enable javascript and refresh the page to continue reading local news. Loren currently resides at 2750 Wilderness Cove Rd, Bismarck, ND.
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