Corps. Dawn M Kopseng, 75. 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. The Bismarck-based company (it has 11 affiliated offices in the U.S., Canada and Mexico) has five subsidiaries that deal largely in energy marketing. UET SHIPPING, LLC, LIMITED LIABILITY CORPORATION WebRelated To Sander Kopseng, Stephanie Kopseng, Loren Kopseng, Dawn Kopseng. 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. 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. 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. 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. An abandoned building off Highway 23 in the Williston Basin. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile Learn About Our Pro Search Every time we went out to a bar or anything like that, we were getting offered jobs for the oil, Kingsley says. [7]Jundt sued to enforce his right to 4,925 membership units of Jurassic, and alleged Kopseng and the corporate defendants breached their obligation of good faith to Jundt and violated their fiduciary duties to Jurassic by, among other things, diverting a business opportunity belonging to Jurassic by acquiring property from WBI for Montana Heartland, which is owned by Jurassic's corporate members, rather than Jurassic. , while the attached Falkirk Mine, operated by North American Coal, supports several hundred more jobs. [A] director is not required to use his or her own money or credit to finance the business of the company. Id. [3]Jundt left his position with Williston Basin Interstate Pipeline Company (WBI) in 1997 and became an employee of Rainbow Gas. Loren is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. Jurassic began a program of gas exploration and production. I think the only oil-field one Ive done is this guy who got a bunch of worms on his arm. They raised our rent from like $900 a month to, well she wanted $1,500 deposit and $2,500 a month. [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. [ 2] In 1984, Loren Kopseng and Donald Russell formed Missouri River. 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. Brandi had plans to attend beauty school. UET SHIPPING, LLC in Louisiana | Company Info & Reviews 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. For many years North Dakota has been a frontier not the classic 19th-century kind based on American avarice and the lure of opportunity in unsettled lands, but the kind that comes afterward, when a place has been stripped bare or just forgotten because it was a hard garden that no one wanted too much to begin with, and now it has reverted to the wilderness that widens around dying towns. 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. 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. 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. The collapse of North Dakotas last oil boom, 30 years ago, left unfinished developments and deserted homes in its wake. But its also geology, chemistry, business. Monthly oil production, which peaked in 1984 at 4.6 million barrels, fell to half and then went sideways for nearly a quarter-century. Brandi Wagner, 24, from Spokane, Wash., with her ex-boyfriend, Zachary Bolton, 27, a computer technician for American Casing and Equipment. . [11]The parties stipulated to the appointment of a special master. WebLOREN KOPSENG Agent 919 South 7th Street Suite 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. 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. The corporate defendants own two-thirds of the membership interest units. The cases offer varying bases for determining whether the corporate opportunity doctrine will be deemed applicable to a given factual situation. He brokered oil-field equipment; he bought and sold leases; he jumped into the natural-gas market just as it was being deregulated. As to this claim Jundt has the burden of proof. Jundt is not an owner of Montana Heartland. 10-32-119(1) authorizes a court to grant such equitable relief in only limited circumstances: 1. Kopseng And then again in the late 70s, when the boom was driven by rising oil prices. He is also concerned about the impact of well facilities on the community. Jundt clearly knew and understood all the write-offs would go to the money investors. Kopseng Karen Kopseng Obituary (2006) - Bismarck, ND - The Bismarck On Friday and Saturday nights, it gets so crowded that they open up a lower floor. 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. 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. Loren has reached 74 years of age. Were gonna do a three-year stint. Kevin Tschetter, 34, hauls water to and from active wells for KNS Enterprises. 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. And then suddenly there were oil wells. Keep an eye out for radio towers, Kopseng said over the headset. Theres a kind of exhaustion thats in the air everywhere, says Soth, the photographer. North Dakota officials and Great River have been keeping quiet about the prospective buyer but said the intent was to pursue carbon capture projects attached to the plant. WebView Loren Kopseng results including current phone number, address, relatives, background check report, and property record with Whitepages. 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. Get the latest business insights from Dun & Bradstreet. 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. [13]The record does not show the parties agreed to be bound by the special master's findings of the fair market value. The order reflecting the parties' stipulation says only that the trial court will use the report and appraisals to find the fair market values of any relevant properties. It does not say the court or the parties will adopt or be bound by the special master's report or findings. In 2012 the company earned a net profit of $44.8 million on revenues of $5.7 billion. [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. Loren Kopseng - Address & Phone Number | Whitepages Ive had two different jobs. Bismarck Jurassic Resources Development North America, LLC DKs Lounge and Casino in Williston. 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. The email address cannot be subscribed. Or that he denied it at all. 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. By this fall every one of these lots will have a house. The trial court concluded, among other things: 12. We brought in a plant to split and polish peas. The initial members of Jurassic were Missouri River, Rainbow Gas, and Rainbow Energy. 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. 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. If you drill to the east of that, youre dead.. 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. 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. 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. We crossed the Missouri River, the plane beating on above a sea of grass. After the plane was replenished with $147 worth of aviation gas, we headed east toward Bismarck. He was entitled to receive them if he was-if he was entitled to the ownership interest, he was entitled to the tax write-offs. 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). Now. Ed.). Loren Kopseng is a resident of ND. [29] WILLIAM A. NEUMANN, Acting C.J., JAMES M. BEKKEN,* D.J., MARY MUEHLEN MARING, and DALE V. SANDSTROM, JJ, concur. What challenges? Anyone can read what you share. It has forced McDonalds to offer bonuses and brought job seekers from all over the country truck drivers, frack hands, pipe fitters, teachers, manicurists, strippers. 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. 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. Many potions have been concocted to suppress the stuff. 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.). There is evidence supporting the court's finding that Jurassic's debts exceeded the appraised value of its assets. 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. Id rather stay in a small town., Kevin Tschetter, 34, hauls water to and from active wells for KNS Enterprises. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. 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, 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. Apart from a few fanatics who sometimes turned up at midnight, the landmen would begin arriving at the courthouse around 6 a.m. Loren Kopseng Bismarck, ND. WebDawn Kopseng in Mandan, North Dakota. 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. Kopseng took pictures hed done all the aerial photography for U.E.C.s annual report. [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. 53 and there is no evidence establishing the special master's findings were clearly erroneous. Valuable research and technology reports. The company has 3 contacts on record. Oil has financed multimillion-dollar recreation centers and new hospital wings. . He makes $12,000 to $14,000 a month. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile All Companies Named UET 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 The parties may file comments with the Court and Special Master by November 16, 2001 pursuant to Rule 53(f)(5). Just the other day, Saturday night, I went to bed at 10 oclock, got up at 10:45, had to drive in a snowstorm four hours to Scobey, Mont., pick up a tool and drive it all the way down to Watford City. Traffic used to be so scarce that drivers would wave as they passed an oncoming car; now there are record numbers of accidents. 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. 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. I get to live every 5-year-old-kids dream. [27]The circumstances presented in this case do not provide a basis for determining which of the tests for determining if there has been a usurpation of a corporate opportunity may most appropriately be adopted in this jurisdiction. WebLoren Kopseng. . The best result we found for your search is Dawn M Kopseng age 50s in Mandan, ND. 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. 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. Great River Energy has said the potential buyer would purchase the power plant along with the attached high-voltage transmission line. [23]We recently reiterated the test for resolving a motion for summary judgment: Summary judgment is a procedural device for promptly and expeditiously disposing of an action without a trial if either party is entitled to judgment as a matter of law and if no dispute exists as to either the material facts or the inferences to be drawn from undisputed facts, or if resolving factual disputes will not alter the result. We arent going to do anything to jeopardize it. Home sales dipped 20% in Fargo-Moorhead. Flying was Kopsengs dream job before he got the idea of building an oil company. loren kopseng bismarck, nd More than a third of the gas that comes out of the oil wells in the basin was being flared off, but that percentage is declining as pipelines and facilities to process it come online. WebNORTH DAKOTA DOMESTIC LIMITED-LIABILITY COMPANY - BUSINESS: WRITE REVIEW: Address: 919 S 7th St Ste 405 Bismarck, ND 58504-5835: Registered Agent: Loren R Kopseng: Filing Date: February 27, 2019: File Number: 0002711762: View People Named Loren Kopseng in North Dakota: Contact Us About The Company Profile For The town bought a 20-room apartment complex so that new city workers could have a place to live and was obliged to offer prospective police officers a housing allowance of $350 a month. He left a comfortable life in Newport Beach, Calif., to get into the oil business and hopes to buy land one day. employs almost 250 people Sometimes Loren goes by This is our time, Clay S. Jenkinson told me one morning over coffee at a Bismarck Starbucks, where he often goes to write. 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. 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.'". Whether he could use them or not, I don't know. United Energy is part of the Energy, Utilities & Waste industry, and located in North Dakota, United States. In truth, it seems less an assessment of what humanity can expect when it is done devouring the earths nonrenewable resources than a prayer that reflects a faith unique to the place where Link was born, faith that all those caved-in cabins, withered towns and stillborn dreams and whatever is left when the oil is gone can be redeemed. Contact & Personal Details. . 4.01Tax Characterization and Returns. Accordingly, the trial court was without authority to grant equitable relief under N.D.C.C. We put down at the Williston airport and hiked across a dirt lot full of mud-caked water trucks. Dawn is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. 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. Two dozen horn-handed men were bent over their lunches in an airport-motel restaurant; the only women in the place were the waitresses. [16]Jundt and the defendants told the trial court they wanted to sever their business relationship. Perm. We got new trailers that we live in. See Lussier v. Mau-Van Dev., Inc., 4 Haw.App. Loren Kopseng, Ryan Kopseng. Its a very solitary existence, being up there. The two ranches he acquired are now part of Theodore Roosevelt National Park. Guys dont care here if youre with someone or not. coach Phil Jackson. I love it. But they had to have the tool there, you know?. 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. Differences arose and Jundt left in 1999. Financial inability justifies a corporation in rejecting an opportunity. The transient people are more the single guys. and plans on getting a truck-drivers license. McFeely: North Dakota company appears poised to buy 10. Kopseng 10-32-119(2) been established. Completion of Coal Creek sale marks 'day of - Bismarck Tribune WebAddress: 919 S 7TH St Ste 405 Bismarck, ND, 58504-5835 United States See other locations Phone: ? There was undisguised horror in Kopsengs voice when he realized I had been obliged to open an airsickness bag in the back seat. 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. Yelp is a fun and easy way to find, recommend and talk about whats great and not so great in Bismarck and beyond. [8]The trial court found, among other things: 3. He banked the Husky over a pennant of flare gas fire, and from the size of the flame estimated the well was producing 1,500 barrels of oil per day. https://www.nytimes.com/2013/02/03/magazine/north-dakota-went-boom.html. Under any of the theories, Jundt has failed to meet his burden. The chances are good. Real-time trigger alerts. 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. KOPSENG LOREN - Kirkwood Office Towe, Bismarck, ND - Yelp 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. 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. They have also lived in Mandan, ND. 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. 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. (The sand, or proppant, props the channels open.) 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 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. WebThe second best result is Loren R Kopseng age 40s in Bismarck, ND in the Wachter's neighborhood. WebSupreme Court of North Dakota. TermsPrivacyDisclaimerCookiesDo Not Sell My Information, Begin typing to search, use arrow keys to navigate, use enter to select, Stay up-to-date with FindLaw's newsletter for legal professionals. Court Records. 14. It has fitted highways with passing lanes and rumble strips. [18]Jundt contends the trial court erred in ruling he was not entitled to tax write-offs flowing from his interest in Jurassic. Loren Kopseng - Bismarck, ND - Reputation & Contact Details Its new life, new families moving in. It buys and sells energy, in other words. Dynamic search and list-building capabilities. Many were production wells weathered pump jacks pulling up oil (or natural gas and natural-gas liquids) from holes drilled over the years. A construction water tank at a new home development west of Williston. 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. There was no showing of a corporate opportunity Jurassic had the financial ability to pursue. Best of all, in a state where until recently young people often had to leave to find work, his two sons Ryan, an oilman, and Sander, a lawyer joined the company and built successful careers down the hall. Water trucks in the parking lot wore petticoats of mud. Estimates have been continuously revised upward since a 1974 figure of 10 billion barrels. Co., 2002 ND 148, 5, 651 N.W.2d 683. The store was selling showers: a half-hour of hot water for 10 bucks; $15 for a couple. 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. New or freshly painted pump jacks were nodding over recent discoveries. Infinity nagged at the scale of things. At a motions hearing, one of the defendants' attorneys told the court: We don't want [Jurassic] to be liquidated. 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. WebThe Registered Agent on file for this company is Kurt Batenhorst and is located at 20405 State Highway 249, Suite 850, Houston, TX 77070. That gets old, that does get old. Brandi and Zachary broke up last week. 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. 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. Ed.). . Every 1 percent increase in the rate of recovery means another billion barrels.. They had names like Bakken Heights and Harvest Hills. 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. United Energy Location 919 S 7th St Ste 405, Bismarck, North Dakota, 58504, United States Description Read More Industry 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. [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. Statistics for all 2 Ryan Kopseng results: 40 yrs. Impressive as it is to execute a 90-degree turn in a well bore thousands of feet underground, horizontal drilling alone was not enough to tap the tight oil in the Bakken.