Ive had two different jobs. In 1997 he and Russell consolidated various energy-related businesses into the privately held United Energy Corporation. The company has 1 contact on record. Includes Address(2) Phone(1) See Results. But under ultraviolet light, you can see telltale oil shows, and it has a faint smell of diesel fuel. WebThe second best result is Loren R Kopseng age 40s in Bismarck, ND in the Wachter's neighborhood. If you hold a piece of Middle Bakken, its hard to believe it contains oil at all, or that it could function as a reservoir for oil migrating under pressure from the carbon-rich shale around it. Loren Kopseng Bismarck, ND. . Court Records. 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. 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. In July 2012, monthly oil output reached 20.97 million barrels, and North Dakota was the largest oil producer in the country after Texas. He just didn't confirm it. . In July the World Bank reported that flared gas from the Williston Basin was the main reason the United States has jumped to 5th from 14th (behind Russia, Nigeria, Iran and Iraq) on the list of gas-flaring nations. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: KOPSENG, LOREN R BISMARCK, ND 58503: UNITED , He seemed stunned by the pace of change; or maybe just exhausted. A. I tried for almost a year to apply online and calling people and no one would hire me. A spokesman for North Dakota Gov. But were still trying to feel things out. . What challenges? Loren is related to Sander Kopseng and Stephanie Nicole Peterson as well as 3 additional people. 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. The Members acknowledge that the Company will be treated as a partnership for tax purposes. Mr. G's Turtle Mtn. Two dozen horn-handed men were bent over their lunches in an airport-motel restaurant; the only women in the place were the waitresses. He left a comfortable life in Newport Beach, Calif., to get into the oil business and hopes to buy land one day. Charlie Hancher, 25, moved from Daytona, Fla., to Williston, last April, and after much searching found a place to live at a new housing development in Williston. Devon Fox (foreground) and Taven Fox (background) near New Town, N.D., at Fort Berthold Indian Reservation. The store was selling showers: a half-hour of hot water for 10 bucks; $15 for a couple. 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. The chances are good. Jundt cross-appealed from the judgment; a December 5, 2000, amended order on summary judgment motions; an October 12, 2000, order on a summary judgment motion; and a December 13, 2001, amended memorandum opinion and unchanged findings of fact, conclusions of law, and order for judgment. 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. Questions Post Question There are no questions yet for this company. 9. The downtown area was struggling for 25 years. until finally you get out at some windswept intersection and gratefully fall on the fellowship of a dog-faced bar with a jukebox of songs about people on their way to somewhere else. Theres a kind of exhaustion thats in the air everywhere, says Soth, the photographer. . 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. Jurassic began a program of gas exploration and production. Just how much oil is in the Bakken is still unknown. Many potions have been concocted to suppress the stuff. A party opposing summary judgment must present evidence raising an issue of material fact. Later, they and others formed a number of other companies, including Rainbow Gas, Rainbow Energy, Montana Heartland, L.L.C. Landowners have land rights but dont always have rights to whats underneath it, the minerals. (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? Financial inability justifies a corporation in rejecting an opportunity. The cases offer varying bases for determining whether the corporate opportunity doctrine will be deemed applicable to a given factual situation. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile Learn About Our Pro Search Memorial services will be held at 2 p.m. Saturday, Oct. 21, at Trinity 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. [22]Jurassic was negotiating to acquire WBI properties before Jundt left Jurassic. 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. The best result we found for your search is Dawn M Kopseng age 50s in Mandan, ND. People asked me why I dont gamble, Kopseng said, digging into his lunch. 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. Hoeft has been in Williston for four years and currently lives in his Chevrolet Suburban rents for a two-bedroom run $2,400 a month, and he is still paying off his mortgage back in Wisconsin, where hes from. Were smack-dab in the middle of an Indian reservation. Also known as Dawn M Fronk, Dawn Kotseng. 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? Theres no way to be right. which nationally has been declining for decades that included tax breaks, grants and loans. Youd like to have more time to think things through, but everybody is in such a rush.. [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. Russell, who died in 2011, also wanted to get into oil and gas. It reverses decades of anxiety about out-migration and rural decline and death. 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. Every time we went out to a bar or anything like that, we were getting offered jobs for the oil, Kingsley says. Copyright 2023, Thomson Reuters. 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. Loren Kopseng. Young people were leaving and not coming back, and farmers were moving to town and retiring. The people with families, I think, I mean this is my opinion, they seem to want to stay here, you know, maybe not permanently, but awhile., Brian Coffey, 40, who works for Raven Drilling, says: I went from floor hand well, back in the day it was called a worm to now Im on the derrick, and starting to run a rig, so Ive kinda got my mind set on company man or tool pusher., Lonnies Roadhouse Cafe. Were gonna do a three-year stint. The defendants contend the trial court abused its discretion in awarding Jundt $300,000. You wont find a better ambassador of what the oil industry calls the play in western North Dakota than Loren Kopseng. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. I hate the wind. Coal Creek Select this result to view Dawn M Kopseng's phone number, address, and more. Jundt made no showing Jurassic had the financial ability to take the opportunity without additional investment of money or credit by the owners. 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. coach Phil Jackson. 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. [26]As the reporter's note to American Law Institute, Principles of Corporate Governance: Analysis and Recommendations 5.05 (1994) states, in part: 1. If you feel you have received this message in error, please contact the customer support team at 1-833-248-7801. 13. 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. Principal. Apostles of Bakken gold insist that whats different this time is that this time is different, the history of frontier avarice notwithstanding. This is the Big One that North Dakota has been waiting for for more than a century. A more typical attitude is represented by Harold Hamm, chief executive of Continental Resources. An equitable resolution by the Court also takes into account Jundt's claims about over allocated expenses, attorney fees and transportation charges to the extent the Court has any limited concerns over those claims. . Stay up-to-date with how the law affects your life. The first horizontal well in the Bakken was spudded by Meridian Oil in 1987, long before the current boom. Its our gold rush, our Silicon Valley. Reputation Score: 1.70-3.81. [2]In 1984, Loren Kopseng and Donald Russell formed Missouri River. 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. 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. We put down at the Williston airport and hiked across a dirt lot full of mud-caked water trucks. The trial court awarded Jundt $300,000 for his membership units in Jurassic. Q. 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. Ed.). The same article said United Energy in 2012 earned a net profit of $44.8 million on revenues of $5.7 billion. Something about seeing men eating alone in a diner is poignant to me., Owen Evens, 37, moved from Bend, Ore., 11 months ago, and works for Rocky Mountain Casing Crews. DKs Lounge and Casino in Williston. He's been with The Forum full time since 1990, minus a six-year hiatus when he hosted a local radio talk-show. 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. They just said, We need young bucks.. 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. Dawn is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. U.E.C. North Dakotans are among the most prudent people in North America even amid record surpluses, the electorate last year rejected a proposal to abolish property taxes and their history tells them that after the tumult of a boom, the landscape, in the words of former Gov. WebLOREN KOPSENG Manager, Member 919 S 7th St Suite 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. Under any of the theories, Jundt has failed to meet his burden. Such implied disclosure and consent to Montana Heartland's acquisition is a permissible inference. 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. 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. 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. It has fitted highways with passing lanes and rumble strips. By this fall every one of these lots will have a house. WebLoren was born on 06.25.47. Its hard to say whether the hope and grandeur of that vision are deeper than its delusions. 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. 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. 5. 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. But oil development, and fracking in particular, raises little of the hue and cry it does in Eastern states sitting above the natural gas in the Marcellus shale. They have also lived in Queen Creek, AZ and Bismarck, ND. Whether that something is news about United Energy or one of its subsidiaries like Rainbow Energy saving Coal Creek remains to be seen. Lodge, Inc. v. Roland Township, 2002 ND 140, 21, 651 N.W.2d 625 (citations omitted). Dawn M Kopseng, 75. Jundt has failed to carry his burden of proof as what he has offered is far too speculative. . Whether or not an officer has misappropriated a corporate opportunity does not depend on any single factor. Or that he denied it at all. People Search Resides in Bismarck, ND. 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. A construction water tank at a new home development west of Williston. Traffic used to be so scarce that drivers would wave as they passed an oncoming car; now there are record numbers of accidents. 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 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. It feels as hard as a flagstone terrace. 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. But I wouldnt mind going and working somewhere that does pay for stuff like that.. We got new trailers that we live in. After he married and started a family, it was his wifes friends who looked at him sideways. Every 1 percent increase in the rate of recovery means another billion barrels.. 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.. . 4.01Tax Characterization and Returns. 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. He was elected to the Board of Commissioners in 1994 and returned to office five times. 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. 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. 2. The sandstone of the Middle Bakken retained the shape of the drill bore better than the Bakken shale. Lookup the home address and phone 7012261617 and other contact 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. 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. [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 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. Theres so many companies that are providing housing. 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. Jundt is not an owner of Montana Heartland. An abandoned building off Highway 23 in the Williston Basin. 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. The defendants here asserted Jurassic lacked the financial ability to take advantage of the opportunity. The initial members of Jurassic were Missouri River, Rainbow Gas, and Rainbow Energy. That's why Lt. Gov. Its new life, new families moving in. 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. United Energy Location 919 S 7th St Ste 405, Bismarck, North Dakota, 58504, United States Description Read More Industry 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. This is our time, Clay S. Jenkinson told me one morning over coffee at a Bismarck Starbucks, where he often goes to write. Relatives & Associates. 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. 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. At that moment, 209 rigs were drilling fresh holes. 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 its also geology, chemistry, business. [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.. And then suddenly there were oil wells. It buys and sells energy, in other words. This practice raises the atmospheric levels of carbon dioxide, the gas primarily responsible for global warming. Night satellite photographs that were once pitch-black now show a massive gas flare luminance in the northwest corner of the state. Its a very solitary existence, being up there. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. Mickie Riley, 40, second from right, with her family in their trailer in Williston. Its the center of the culture, in a lot of ways.. By February 1999, there wasnt a single rig drilling new wells in the state, and oil development looked to be yet another cautionary tale in the familiar boom-and-bust history of the region no better than previous resource bonanzas at stemming the exodus of young people, or at halting the decline of prairie towns, or at doing much of anything to ameliorate the image of a place where the Legislature brooded over the icy connotations of the word North and twice entertained the idea of simply calling the state Dakota., Alex Brewer, 23, is a floor hand at Raven Drilling.

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