To assess the impact, the state highway department has a special van that drives around with an onboard computer, an infrared detector and six cameras and produces a ride rating for every mile of the regions highways; the higher the number, the worse the ride. 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. We crossed the Missouri River, the plane beating on above a sea of grass. According to United's website, it "purchases, transports, stores and sells over 1 million barrels of crude oil per day.". Dawn is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. 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. Loren Kopseng - Chairman for Rainbow Energy Marketing 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. 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.. Water trucks in the parking lot wore petticoats of mud. Anyone can read what you share. We see that you have javascript disabled. Loren is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. 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. Devon Fox (foreground) and Taven Fox (background) near New Town, N.D., at Fort Berthold Indian Reservation. DKs Lounge and Casino in Williston. Loren Kopseng Bismarck, ND. Jenkinson, a humanities professor, is a North Dakota author and columnist best known for his impersonation of Thomas Jefferson on public radio. The rain lifted outside Stanley at the junction of Route 2 and Highway 8 stretches of which had the worst road ratings in the state. (The sand, or proppant, props the channels open.) 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. Landowners have land rights but dont always have rights to whats underneath it, the minerals. Its hard to think of what oil hasnt done to life in the small communities of western North Dakota, good and bad. AVERAGE AGE. This whole area was a field two years ago, he said. Kopseng 65, a deer hunter, a Bud Light drinker, a profane churchgoer with four kids and two ex-wives refers to himself as a 'petro-preneur.'". The 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. [1]Jurassic Resources Development, North America, L.L.C., a North Dakota limited liability company (Jurassic); Missouri River Royalty Corporation (Missouri River); Rainbow Gas Company (Rainbow Gas); and Rainbow Energy Marketing Corporation (Rainbow Energy) appealed a judgment requiring them to cancel Curtis D. Jundt's membership interest units in Jurassic and pay him $300,000. The moneys very good out here, if you find someone to pay for your housing. That gets old, that does get old. Brandi and Zachary broke up last week. Apart from a few fanatics who sometimes turned up at midnight, the landmen would begin arriving at the courthouse around 6 a.m. The chances are good. With Russell handling the financial side, Kopseng acquired distressed oil and gas wells in the Williston Basin. There was no showing of a corporate opportunity Jurassic had the financial ability to pursue. The land is as good and, in some cases, better than before.. Principal. Theres a kind of exhaustion thats in the air everywhere, says Soth, the photographer. [3]Jundt left his position with Williston Basin Interstate Pipeline Company (WBI) in 1997 and became an employee of Rainbow Gas. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile All Companies Named UET 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. (5)An event of dissolution has occurred under subdivision a, d, or e of subsection 1 of section 10-32-109 but the limited liability company is not acting to wind up its affairs; (1)The claim of the creditor has been reduced to judgment and an execution on the judgment has been returned unsatisfied; or, (2)The limited liability company has admitted in writing that the claim of the creditor is due and owing and it is established that the limited liability company is unable to pay its debts in the ordinary course of business; or. Kopseng took pictures hed done all the aerial photography for U.E.C.s annual report. Memorial services will be held at 2 p.m. Saturday, Oct. 21, at Trinity [26]As the reporter's note to American Law Institute, Principles of Corporate Governance: Analysis and Recommendations 5.05 (1994) states, in part: 1. All of which may explain the shock of coming around a bend and suddenly finding a derrick illuminated at night, or a gas flare framed by stars, or dozens of neatly ranked trailers in a man camp, or a vast yard of drill pipe, or a herd of water trucks, or tracts of almost-finished single-family homes with Tyvek paper flapping in the wind of what just yesterday was a wheat field. Plane makes emergency landing at Bismarck airport which nationally has been declining for decades that included tax breaks, grants and loans. Arthur A. Infinity nagged at the scale of things. employs almost 250 people Coal Creek The Bakken today contains some of the longest horizontal wells in the world, laterals that extend as far as three miles from the drill pad to otherwise unreachable oil under Lake Sakakawea or beneath the Williston airport. Any such loan shall be repaid at such times and with such interest (at rates not to exceed the maximum permitted by law) as the Board and the lending Member shall reasonably agree. We tried to diversify our economy and create more permanent jobs. The two ranches he acquired are now part of Theodore Roosevelt National Park. We were a graying community. A party opposing summary judgment must present evidence raising an issue of material fact. 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. WebThe second best result is Loren R Kopseng age 40s in Bismarck, ND in the Wachter's neighborhood. The trial court awarded Jundt $300,000 for his membership units in Jurassic. Kopseng . Real-time trigger alerts. . Brandi: I get my nails done here at one of the nicer salons, and my nail lady makes about $5,000 a month, so I was going to go work with her. 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. Flying was Kopsengs dream job before he got the idea of building an oil company. 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. The cases offer varying bases for determining whether the corporate opportunity doctrine will be deemed applicable to a given factual situation. . 9. 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. 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. 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. Over and over again, almost every single conversation I had, I ended up talking about Walmart, says Soth, the photographer. (Aggravated assaults in the oil patch doubled in four years.). Jundt has failed to carry his burden of proof as what he has offered is far too speculative. Every master plan the city has prepared is obsolete by the time its printed. 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. 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. Karen Victoria Kopseng (1945-2006) - Find a Grave 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. Kevin Tschetter, 34, hauls water to and from active wells for KNS Enterprises. 13. Previously, Ryan Kopseng I dont like North Dakota. And one wore a green hard hat I guess when youre new you get called a worm on the rig.. As the Husky droned west, the land began to change, growing drier, farms giving way to ranches. [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.. WebLoren Kopseng, (701) 226-1617, Bismarck Public Records Instantly. 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. 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 Koeser pulled over in the middle of a neighborhood that was nothing but curbs and driveways and empty lots. A trial court abuses its discretion only when it acts in an unreasonable, arbitrary, or unconscionable manner, when its decision is not the product of a rational mental process leading to a reasoned decision, or when it misinterprets or misapplies the law. Rose v. United Equitable Ins. 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. At a motions hearing, one of the defendants' attorneys told the court: We don't want [Jurassic] to be liquidated. Jeremy (Tex) Loughran, 17, moved from Del Rio, Tex., and enrolled in high school in Williston. We have 800 to 900 new houses coming onto the city tax rolls by the end of the summer, Koeser told me as we drove around some of the embryonic neighborhoods. Every 1 percent increase in the rate of recovery means another billion barrels.. A 2013 New York Times article on North Dakota's oil boom included a mini-profile of Kopseng 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. 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. What made people rethink the viability of the Bakken was horizontal drilling. Estimates have been continuously revised upward since a 1974 figure of 10 billion barrels. Under any of the theories, Jundt has failed to meet his burden. It buys and sells energy, in other words. UNITED ENERGY TRADING LLC Long before the full frenzy of the boom, you could see its harbingers at the Mountrail County courthouse in Stanley, N.D. Geologists had pored over core samples and log signatures and had made their educated guesses, and now it was the hour of the landmen, the men and women whose job was to dig through courthouse books for the often-tangled history of mineral title and surface rights. Officials calculate that each well in western North Dakota requires about 2,000 truck trips in its first year of operation. 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. Perm. United Energy is part of the Energy, Utilities & Waste industry, and located in North Dakota, United States. In his bag are clothes for his two-week rotation. Its been called North Dakotas Gettysburg Address., We do not want to halt progress, the governor said. He left a comfortable life in Newport Beach, Calif., to get into the oil business and hopes to buy land one day. 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. One reason for the lack of dissent may be that there just arent that many people in North Dakota the state has a population density of less than 10 per square mile; Pennsylvania has 284, New York 411 and the people who are there appear to have weighed the benefits against the costs. Executive Vice President at United Energy . WebLoren Kopseng Active Bismarck, ND Chairman for Rainbow Energy Marketing Corporation (701)222-4909 Overview 6 Companies 15 Connections 4 Locations It was locally owned, and the man sold the building for an enormous amount of money to somebody from out of state. There was undisguised horror in Kopsengs voice when he realized I had been obliged to open an airsickness bag in the back seat. 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. Many potions have been concocted to suppress the stuff. The sandstone of the Middle Bakken retained the shape of the drill bore better than the Bakken shale. 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. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 10-32-119. Youd like to have more time to think things through, but everybody is in such a rush.. compared it to the headquarters of an insurance company, well-publicized investigation by the news Web site ProPublica. Kopseng told the Times he turned things around in the mid-1980s after he met Mandan businessman Don Russell. https://www.nytimes.com/2013/02/03/magazine/north-dakota-went-boom.html. Now. Ive had two different jobs. Jurassic began a program of gas exploration and production. With the best technology, we can recover 4 to 8 out of every 100 barrels of oil in the Bakken, says Ron Ness, president of the North Dakota Petroleum Council. 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. By 1997, Russell and Kopseng consolidated several energy businesses into United Energy. 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. I get paid to get dirty and filthy as I want all day., Left to right: Aaron Janiak, Andrew Johnson and Justin Schoessow. It was crazy. Relatives & Associates. The stipulation was formalized in an order drafted by Jundt's counsel, which appointed the Ryder Scott Company as a Special Master pursuant to Rule 53, N.D.R.Civ.P., for the purpose of providing fair market value appraisals of specified assets owned or controlled by Jurassic, Pine Gas Gathering Company, and Montana-Heartland Company. Bismarck 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. 10-32-119(1) authorizes a court to grant such equitable relief in only limited circumstances: 1. The ratio of men to women is about 5 to 1. 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. [6]Jurassic's member control agreement, executed on January 26, 1998, provides in part: 3.08Additional Capital Contributions. Pickup trucks were waiting in long lines for drive-through dinners at Hardees. 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. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. We brought in a plant to split and polish peas. And then around seven years ago driven by technological refinements that have made North Dakota a premier laboratory for coaxing oil from stingy rocks the states Bakken boom began in Mountrail County. 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.
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