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. This whole area was a field two years ago, he said. But its also geology, chemistry, business. 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. The company has 1 contact on record. The order also provided: The Special Master shall submit its draft report and preliminary appraisals to the parties for comment by November 9, 2001. Suddenly the state that never had anything is in the middle of an oil boom that is larger than anybody could have predicted. People Search , saying "you won't find a better ambassador of what the oil industry calls 'the play' in western North Dakota than Loren Kopseng. 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. Mickie Riley, 40, second from right, with her family in their trailer in Williston. . 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? The former landman who told me this Brent Brannan, now director of the North Dakota Oil and Gas Research Program said he sometimes thought he could see the whole boom in that one image, briefcases waiting for the day to start, and it killed him a little that he never took a picture. 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. Its a very solitary existence, being up there. This is our time, Clay S. Jenkinson told me one morning over coffee at a Bismarck Starbucks, where he often goes to write. Loren Kopseng, Ryan Kopseng. 4. Reviews. Stay up-to-date with how the law affects your life. 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.. The Court intends through this equitable resolution that no party will be awarded costs and/or attorney fees. 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. Whether or not an officer has misappropriated a corporate opportunity does not depend on any single factor. Traffic used to be so scarce that drivers would wave as they passed an oncoming car; now there are record numbers of accidents. [ 2] In 1984, Loren Kopseng and Donald Russell formed Missouri River. 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. 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. 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. 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. Perm. We see that you have javascript disabled. Theres so many companies that are providing housing. The twice-a-month town-commissioner meetings that used to take 45 minutes can now run from 6 p.m. to midnight. The wind and the cold.. Whether he could use them or not, I don't know. WebFind company research, competitor information, contact details & financial data for Jurassic Resources Development North America, LLC of Bismarck, ND. 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 oil company he started almost 30 years ago is headquartered in Bismarck, but the thrilling part of his billion-dollar business is based 100 miles northwest in the Williston Basin. A construction water tank at a new home development west of Williston. 15. 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. . [12]The defendants contend the parties stipulated they would be bound by the special master's findings of the fair market value of Jurassic as of the date of trial. The special master found 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. Loren Kopseng. Get the latest business insights from Dun & Bradstreet. Im just born and raised in Minnesota, and I just dont care to move out there with all the commotion and things like that. [3]Jundt left his position with Williston Basin Interstate Pipeline Company (WBI) in 1997 and became an employee of Rainbow Gas. [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. Doug Burgum visit on Monday at the event to celebrate the closing of the sale of Coal Creek Station to Bismarck 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. 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. They have also lived in Queen Creek, AZ and Bismarck, ND. The two ranches he acquired are now part of Theodore Roosevelt National Park. The initial members of Jurassic were Missouri River, Rainbow Gas, and Rainbow Energy. The email address cannot be subscribed. WebKopseng Loren in Bismarck, reviews by real people. But its just happening too fast. 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. Lodge, Inc. v. Roland Township, 2002 ND 140, 21, 651 N.W.2d 625 (citations omitted). (The sand, or proppant, props the channels open.) There was undisguised horror in Kopsengs voice when he realized I had been obliged to open an airsickness bag in the back seat. 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. It reverses decades of anxiety about out-migration and rural decline and death. Across the highway, workers were pouring concrete for a new Fuel Force gas station and rolling out sod on a fresh tract of homes. Loren Kopseng Questions Post Question There are no questions yet for this company. 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. 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. A more typical attitude is represented by Harold Hamm, chief executive of Continental Resources. 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. Sometimes there were more than 20 briefcases filed on the courthouse steps. . An abuse of discretion by the trial court is never assumed; the burden is on the party seeking relief to affirmatively establish it. Gepner v. Fujicolor Processing, Inc., 2001 ND 207, 13, 637 N.W.2d 681. 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. Youd like to have more time to think things through, but everybody is in such a rush.. Phone number, address, and email on Spokeo, the leading people search directory for contact information and public records. Kopseng The matter is remanded for further proceedings in accordance with this opinion. 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. 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. And then suddenly there were oil wells. 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. Kopseng 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. 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. Statistics for all 2 Ryan Kopseng results: 40 yrs. 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. He left a comfortable life in Newport Beach, Calif., to get into the oil business and hopes to buy land one day. [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. Jundt is not an owner of Montana Heartland. It has now leveled off at around 200, as thousands of wells have been completed under deadline pressure to secure expiring mineral leases. Loren Kopseng, Bismarck Public Records Instantly KOPSENG LOREN - Kirkwood Office Towe, Bismarck, ND - Yelp WebLOREN KOPSENG Manager, Member 919 S 7th St Suite 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. BISMARCK It's not like Loren Kopseng vehemently denied the company he runs, United Energy, is buying Coal Creek Station. Liquidation and partition are not appropriate equitable remedies in this case. 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. Doug Burgum says, Fargo finance chief has history of yelling, creating toxic work environment, records show, Funding for North Dakota tourism projects slashed after rebuke of buffalo theme park. As they call them out here the oil-field trash., For my kids, what Im a little bit worried about is the development of housing, gas stations, schools, stores, well facilities and those kind of things, says Kevin Gieseke, 26,father of the newborn Sawyer, shown here. WebThe Registered Agent on file for this company is Kurt Batenhorst and is located at 20405 State Highway 249, Suite 850, Houston, TX 77070. . North Dakotas last oil boom, 30 years ago, collapsed so quickly when prices crashed that workers in the small city of Dickinson left the coffee in their cups when they quit their trailers. Loren Kopseng - Chairman for Rainbow Energy Marketing 8. 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. Corps. The locals here are great people. 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. He makes $12,000 to $14,000 a month. [25]This Court has not ruled on the corporate opportunity doctrine. The technique is more exact now. https://www.nytimes.com/2013/02/03/magazine/north-dakota-went-boom.html. Water trucks in the parking lot wore petticoats of mud. Lawmakers passed several bills meant to buoy the coal industry 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. It is equitable for a JUDGMENT to be AWARDED in favor of the PLAINTIFF against the remaining defendants canceling the plaintiff's membership interest units in Jurassic Resources Development North America, L.L.C., a North Dakota Limited Liability Company, and requiring the remaining defendants to pay the sum of $300,000 to the plaintiff. 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. Accordingly, the trial court was without authority to grant equitable relief under N.D.C.C. Bismarck 861.10 (2002 Rev. 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. Its been called North Dakotas Gettysburg Address., We do not want to halt progress, the governor said. He always worked he helped his parents run apartment buildings in Bismarck, and for six summers starting at age 12, he fed the chickens and pigs and bucked hay and branded cattle at his grandparents ranch in Slope County in the western part of the state. Summary. Section 10-32-86(1), N.D.C.C., requires a governor of a limited liability company to discharge his or her duties in good faith. I get paid to get dirty and filthy as I want all day., Left to right: Aaron Janiak, Andrew Johnson and Justin Schoessow. 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. 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. 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. Plane makes emergency landing at Bismarck airport Ryan Kopseng is an Executive Vice President at United Energy based in Bismarck, North Dakota. Brandi had plans to attend beauty school. 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. (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. Great River Energy has said the potential buyer would purchase the power plant along with the attached high-voltage transmission line. . 10-32-119(1) authorizes a court to grant such equitable relief in only limited circumstances: 1. Just how much oil is in the Bakken is still unknown. 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. 10-32-119(1) have been established. A spokesman for North Dakota Gov. 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. 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. While coal backers have touted carbon capture and storage as a path to continued viability, it has never worked on a large commercial scale. Jundt clearly knew and understood all the write-offs would go to the money investors. 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. [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. Questions Post Question There are no questions yet for this company. 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. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. In July 2012, monthly oil output reached 20.97 million barrels, and North Dakota was the largest oil producer in the country after Texas. They just said, We need young bucks.. Jundt and Kopseng formed Jurassic. WebLoren Kopseng, Bismarck, ND 1960 Piper PA-18-150, N3574Z Outstanding Piper PA-24 Comanche Dennis Carew, Appleton, WI 1963 Piper PA-24-250, N250LJ Outstanding Piper PA-28 Cherokee John Ditchie, Glen Ellyn, IL 1966 Piper PA-28-140, N7122R Outstanding Limited Production Marilyn & Richard Olwin, Jemez Springs, NM 1969 Navion H, N2533T WebThe Registered Agent on file for this company is Loren Kopseng and is located at 919 South 7th Street Suite 405, Bismarck, ND 58504. The collapse of North Dakotas last oil boom, 30 years ago, left unfinished developments and deserted homes in its wake. . I hate the wind. Select this result to view Loren R Kopseng's phone number, address, and more. Jurassic Resources Development North America, LLC Web/ NORTH DAKOTA / BISMARCK / Pine Gas Gathering L L C; Pine Gas Gathering L L C. Get a D&B Hoovers Free Trial. Whether Great River was closing the plant because it was losing tens of millions of dollars a year and its customers were demanding green energy, as it said, Potential new owner in talks to save North Dakota's largest coal-fired plant, Marked for closure, North Dakotas biggest coal-fired power plant looks for a new tech lifeline, McFeely: Report blasts expensive ND project meant to save coal plant, Workers, communities fear closing North Dakota's largest coal plant will destroy their way of life, North Dakota's largest coal-fired power plant will shut down in 2022 unless new buyer can be found, Lawmakers passed several bills meant to buoy the coal industry, A 2013 New York Times article on North Dakota's oil boom included a mini-profile of Kopseng, state leaders are championing the idea North Dakota could become a world leader in carbon-capture technology. Kopseng While they were buying houses and investing in mutual funds, he was in debt-work-out negotiations with Halliburton. Yet in the midst of so much empty, untrammeled land, the roaring fires and messy drill pads didnt evoke images of industrial blight like the apocalyptic black wastes of the Alberta tar-sands operations or the eaten-off mountaintops of West Virginia coal country, or for that matter, the landscape of New Jersey around the port of Newark. [A] director is not required to use his or her own money or credit to finance the business of the company. Id. 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. . He's been with The Forum full time since 1990, minus a six-year hiatus when he hosted a local radio talk-show. 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, It took me all night. McFeely: North Dakota company appears poised to buy (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? 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 Relatives & Associates. Shallow gas leases were acquired and developed into production in Montana through the efforts of the plaintiff and capital and loans contributed by the corporate defendants, as well as the efforts of the defendant Loren R. Kopseng. Or that he denied it at all. Kopseng told the Times he turned things around in the mid-1980s after he met Mandan businessman Don Russell. 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. 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. , while the attached Falkirk Mine, operated by North American Coal, supports several hundred more jobs. 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. In the fall of 2011in Crosby, N.D., Continental Resources, the oil company with the most acreage leased in the basin, erected a self-congratulatory granite monument celebrating its work in the so-called Bakken Formation, the Williston Basin rocks that, as Continental put it, ushered in a new era in the American oil industry. The number of rigs drilling new wells in North Dakotas part of the basin reached a record 218 last May. The city had to be careful, he said, because during the last boom, Williston got stuck with $28 million in debt after putting in streets and sewers for housing developers who bailed when oil prices collapsed. A dog inside a truck outside Hampton Inn and Suites, Williston, N.D. Customers waiting for Walmart to open.

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