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. 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. Whether he could use them or not, I don't know. After the plane was replenished with $147 worth of aviation gas, we headed east toward Bismarck. The first horizontal well in the Bakken was spudded by Meridian Oil in 1987, long before the current boom. Later, they and others formed a number of other companies, including Rainbow Gas, But with Russell handling the financial end, Kopseng began accumulating distressed oil and gas wells. [ 2] In 1984, Loren Kopseng and Donald Russell formed Missouri River. Russell, who died in 2011, also wanted to get into oil and gas. Generally the formation was too thin to provide a worthwhile pay zone for a vertical well. Its a very hard industry to break in to. Mr. G's Turtle Mtn. Q. 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. Apostles of Bakken gold insist that whats different this time is that this time is different, the history of frontier avarice notwithstanding. The plaintiff and the defendants no longer have a business relationship that will allow them to work together. Brandi Wagner, 24, from Spokane, Wash., with her ex-boyfriend, Zachary Bolton, 27, a computer technician for American Casing and Equipment. Brandi had plans to attend beauty school. Ed.). You wont find a better ambassador of what the oil industry calls the play in western North Dakota than Loren Kopseng. Most of the Bakken oil is tight. The rocks are not porous and permeable enough for the oil to flow on its own. 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. The law has long recognized the doctrine of corporate opportunity which prohibits one who occupies a fiduciary relationship to a corporation from acquiring, in opposition to the corporation, property in which the corporation has an interest or tangible expectancy or which is essential to its existence. 3 Fletcher Cyc. But its just happening too fast. Guys dont care here if youre with someone or not. [29] WILLIAM A. NEUMANN, Acting C.J., JAMES M. BEKKEN,* D.J., MARY MUEHLEN MARING, and DALE V. SANDSTROM, JJ, concur. 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. 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. Probably the loudest of these is John Heiser, a fourth-generation North Dakotan rancher and part-time park ranger who lives near Grassy Butte, and who has been railing against the pace of the boom from the start. 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. And then they would go back to their cars and trucks to wait with the engines running, their faces wreathed in coffee steam. Theres no way to be right. A party opposing summary judgment must present evidence raising an issue of material fact. And when we are through with that and the landscape is quiet again, when the draglines, the blasting rigs, the power shovels and the huge gondolas cease to rip and roar. Great River Energy has said the potential buyer would purchase the power plant along with the attached high-voltage transmission line. [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. The parties may file comments with the Court and Special Master by November 16, 2001 pursuant to Rule 53(f)(5). Green junipers blazed on the broken rainbow clay and sandstone cliffs of the North Dakota Badlands, where 26-year-old Theodore Roosevelt came in 1884 to recuperate after the deaths of his wife and his mother on the same day. Copyright 2023, Thomson Reuters. Every time we went out to a bar or anything like that, we were getting offered jobs for the oil, Kingsley says. [9]The corporate defendants appealed, contending the trial court abused its discretion in awarding Jundt $300,000 as an equitable remedy. 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. He began studying for his pilots license as a freshman in college. 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. 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. Mickie Riley, 40, second from right, with her family in their trailer in Williston. . Accordingly, the trial court was without authority to grant equitable relief under N.D.C.C. What constitutes the usurpation of a corporate opportunity is the subject of considerable litigation [H]owever, a single definitive test has not yet emerged. Joseph W. Bishop, Jr., The Law of Corporate Officers and Directors 3.05 (2002). Web/ NORTH DAKOTA / BISMARCK / Pine Gas Gathering L L C; Pine Gas Gathering L L C. Get a D&B Hoovers Free Trial. 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. The cases offer varying bases for determining whether the corporate opportunity doctrine will be deemed applicable to a given factual situation. I hate the wind. Ryan Kopseng is an Executive Vice President at United Energy based in Bismarck, North Dakota. South of the river, the boundary was marked by Highway 49. 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. Get the latest business insights from Dun & Bradstreet. 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. They raised our rent from like $900 a month to, well she wanted $1,500 deposit and $2,500 a month. 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. Its new life, new families moving in. Stay up-to-date with how the law affects your life. Theres a kind of exhaustion thats in the air everywhere, says Soth, the photographer. The defendant Loren R. Kopseng has not deliberately acted to oppress the plaintiff in his management or member interest units in the company. [5]Russell, Kopseng, Tschider, and Jundt executed an after-payout statement of membership interest on January 26, 1998, providing, in part: Time of Repayment. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. https://www.nytimes.com/2013/02/03/magazine/north-dakota-went-boom.html. WebThe Registered Agent on file for this company is Kurt Batenhorst and is located at 20405 State Highway 249, Suite 850, Houston, TX 77070. BISMARCK It's not like Loren Kopseng vehemently denied the company he runs, United Energy, is buying Coal Creek Station. We do not plan to be selfish and say, North Dakota will not share its energy resources. . An abandoned building off Highway 23 in the Williston Basin. Corps. Anyone can read what you share. Resides in Bismarck, ND. Devon Fox (foreground) and Taven Fox (background) near New Town, N.D., at Fort Berthold Indian Reservation. [8]The trial court found, among other things: 3. Theres a lot of other people out there that are still living in trailers and stuff. . 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. Cloud Enters., Inc., 301 Minn. 261, 222 N.W.2d 83, 86 (1974). It was almost possible to imagine the land as it appeared to Lewis and Clark when the Corps of Discovery came up the Missouri in 1804 but only if you looked past the toy-size trucks crawling west on Interstate 94 with drill pipe and water tanks; and the locomotives lumbering east with hundred-unit trains of black oil-tanker cars in tow. A.C. Petters Co., Inc. v. St. The Court intends through this equitable resolution that no party will be awarded costs and/or attorney fees. WebDawn Kopseng in Mandan, North Dakota. 5. 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. 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. Loren has reached 74 years of age. 10. I talked to one of these gals, says Alec Soth, the photographer, and she said: Look, Im not good looking, but I can walk into this place, I can point at any one of these guys and take him home. (3)The members of the limited liability company are so divided in voting power that they have failed to elect successors to governors whose terms have expired or would have expired upon the election and qualification of their successors; (4)The limited liability company assets are being misapplied or wasted; or. , while the attached Falkirk Mine, operated by North American Coal, supports several hundred more jobs. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: KOPSENG, LOREN R BISMARCK, ND 58503: UNITED The plaintiff's claims against the defendant Loren R. Kopseng are DISMISSED WITH PREJUDICE. 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. 10-32-119(1) authorizes a court to grant such equitable relief in only limited circumstances: 1. Below was the country of the Missouri Slope, where homesteaders discovered the fallacy that rain followed the plow. Johnson, 21, commutes nine hours from Pennock, Minn., where hes from, to North Dakota to work in construction. Comprehensive company profiles. 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. Im just born and raised in Minnesota, and I just dont care to move out there with all the commotion and things like that. 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. The actual amount of the tax write-offs is controlled by Article IV of the Member Control Agreement. (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? Website: www.uecorporation.com . In a way, of course, this kind of frontier is as much a state of mind as an actual place, a melancholy mood you cant shake as you drive all day in a raw spring rain with nothing but fence posts and featureless cattle range for company thinking, Is this all there is? ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile All Companies Named UET U.E.C. 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. The ratio of men to women is about 5 to 1. 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. WebView FREE Public Profile & Reputation for Dawn Kopseng in Mandan, ND - See Court Records | Photos | Address, Email & Phone Numbers | Personal Review | $175 - $199,999 Income & Net Worth. Mark Froemming, 23, works for Halliburton as a frack crew member, on two-week rotations, and returns to Missoula, Mont., during his two weeks off. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. Missouri River, Rainbow Gas, and Rainbow Energy invested money in Jurassic, and were issued a total of 10,000 membership units. Previously city included Mandan ND. The email address cannot be subscribed. They have also lived in Mandan, ND. 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. [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. WebLoren Kopseng, the pilot of the Piper Cheyenne, brought the plane down at a little after 9 p.m. on the airport's secondary runway. employs almost 250 people 8. 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. 4. 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. 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. 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). He is also concerned about the impact of well facilities on the community. Gloria Fronk Sun Lakes, AZ. Loren Kopseng, Ryan Kopseng. 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. We arent going to do anything to jeopardize it. As to this claim Jundt has the burden of proof. 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. United Energy Location 919 S 7th St Ste 405, Bismarck, North Dakota, 58504, United States Description Read More Industry Theres so many companies that are providing housing. . [18]Jundt contends the trial court erred in ruling he was not entitled to tax write-offs flowing from his interest in Jurassic. He works for eight days, then takes six off. (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.
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