Multiply that by hundreds of annual new wells, and its clear why county and state highway departments are engaged in an epic struggle against potholes, rutting, asphalt shoving, alligator cracking and other pavement maladies. Kopseng took pictures hed done all the aerial photography for U.E.C.s annual report. 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. North Dakota has had oil booms before but never one so big, never one that rivaled the land rush precipitated more than a century ago by the transcontinental railroads, never one that so radically changed the subtext of the Dakota frontier from the Bitter Past That Was to the Better Future That May Yet Be. 7. Coal Creek 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. Apart from a few fanatics who sometimes turned up at midnight, the landmen would begin arriving at the courthouse around 6 a.m. . 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. It has ginned up an unreleased reality show called Boomtown Girls, which follows the lives of five bold and brave sisters in the formerly drowsy farm center of Williston, N.D. Williston, whose population has tripled in the past 10 years, lies in the middle of the 150,000-square-mile Williston Basin, a depression in the crust of the earth that geologists now believe contains one of the largest oil fields in the world. 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. Burgum's administration in March announced that Great River moved into exclusive negotiations with a prospective new owner for the plant. In an action by a member when it is established that: (1)The governors or the persons having the authority otherwise vested in the board of governors are deadlocked in the management of the affairs of the limited liability company and the members are unable to break the deadlock; (2)The governors or those in control of the limited liability company have acted fraudulently, illegally, or in a manner unfairly prejudicial toward one or more members . We tried to diversify our economy and create more permanent jobs. employs almost 250 people In its memorandum opinion, the trial court said it REJECTS the use of the value set by the Ryder Scott appraisal in an equitable resolution of this case. In its findings of fact, however, the trial court recognized Jurassic's debts exceed the appraisal value determined by the Special Master as of November 27, 2001. The trial court also found: 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. The trial court explained in its memorandum opinion: Notwithstanding the debts owed by Jurassic, the Court finds there to be a significant value to the defendants to retain the ownership of Jurassic free and clear of any interest of Jundt, if for no other reason than they can control the future of Jurassic and the way in which the debts are paid and the assets exploited. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile All Companies Named UET It has confounded kids running lemonade stands: 50 cents a cup but your customer has only hundreds in his payday wallet. 8. I get paid to get dirty and filthy as I want all day., Left to right: Aaron Janiak, Andrew Johnson and Justin Schoessow. New or freshly painted pump jacks were nodding over recent discoveries. AVERAGE AGE. As the Husky droned west, the land began to change, growing drier, farms giving way to ranches. He's been with The Forum full time since 1990, minus a six-year hiatus when he hosted a local radio talk-show. [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. 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. . [16]Jundt and the defendants told the trial court they wanted to sever their business relationship. Young people were leaving and not coming back, and farmers were moving to town and retiring. 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. Memorial services will be held at 2 p.m. Saturday, Oct. 21, at Trinity In the dead of winter, it would still be dark and often 20 or 30 below zero, and because the courthouse didnt open until 7:30, the landmen would leave their briefcases outside the entrance, on the steps, in the order they arrived. 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. Please enable javascript and refresh the page to continue reading local news. . Production from a typical Bakken well declines rapidly but on average produces modest amounts of oil for 45 years and earns a profit of $20 million. Brent Sanford spearheaded a high-priority effort to find a buyer to keep the plant operating. Real-time trigger alerts. DKs Lounge and Casino in Williston. If you feel you have received this message in error, please contact the customer support team at 1-833-248-7801. https://www.nytimes.com/2013/02/03/magazine/north-dakota-went-boom.html. Principal. By this fall every one of these lots will have a house. WebLoren Kopseng, (701) 226-1617, Bismarck Public Records Instantly. 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. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. [5]Russell, Kopseng, Tschider, and Jundt executed an after-payout statement of membership interest on January 26, 1998, providing, in part: Time of Repayment. Later, as improved instruments gave drillers a more precise sense of where they were and what kind of rock they were in, they were able to steer drill bits between the black halves of the Oreo. compared it to the headquarters of an insurance company, well-publicized investigation by the news Web site ProPublica. But now, land near the airport that was $500 an acre a decade ago was selling for as much as $180,000 an acre; the airport itself was slated for relocation. [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. 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. 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. We crossed the Missouri River, the plane beating on above a sea of grass. Guys dont care here if youre with someone or not. 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. Whether he could use them or not, I don't know. . And then again in the late 70s, when the boom was driven by rising oil prices. And then suddenly there were oil wells. We kind of liken it to being in the military, you know. Some well sites were tucked in the lee of ravines or perched on bluffs or strung out along the line of a county road, one per mile, like square coasters on a bar. A construction water tank at a new home development west of Williston. Missouri River, Rainbow Gas, and Rainbow Energy invested money in Jurassic, and were issued a total of 10,000 membership units. Its been called North Dakotas Gettysburg Address., We do not want to halt progress, the governor said. 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. 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. 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. Oil has financed multimillion-dollar recreation centers and new hospital wings. EAA AirVenture Oshkosh 2007 Aircraft Awards 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. People arent interested in stepping back.. Jundt and Kopseng formed Jurassic. He was elected to the Board of Commissioners in 1994 and returned to office five times. 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. There was undisguised horror in Kopsengs voice when he realized I had been obliged to open an airsickness bag in the back seat. Plane makes emergency landing at Bismarck airport Jundt clearly knew and understood all the write-offs would go to the money investors. state leaders are championing the idea North Dakota could become a world leader in carbon-capture technology [29] WILLIAM A. NEUMANN, Acting C.J., JAMES M. BEKKEN,* D.J., MARY MUEHLEN MARING, and DALE V. SANDSTROM, JJ, concur. Q. I had a lot of lemonade wells, he sighed. Doug Burgum visit on Monday at the event to celebrate the closing of the sale of Coal Creek Station to Suddenly the state that never had anything is in the middle of an oil boom that is larger than anybody could have predicted. [3]Jundt left his position with Williston Basin Interstate Pipeline Company (WBI) in 1997 and became an employee of Rainbow Gas. Copyright 2023, Thomson Reuters. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. Petroleum geologists have known the cookie was full of light, sulfur-free oil since 1953, but they didnt know exactly how much or how to extract it economically. 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. He struggled for five years, learning expensive lessons," the Times reported. (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. The first horizontal well in the Bakken was spudded by Meridian Oil in 1987, long before the current boom. We put down at the Williston airport and hiked across a dirt lot full of mud-caked water trucks. On Friday and Saturday nights, it gets so crowded that they open up a lower floor. 15. Ryan Kopseng 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. 8. The matter is remanded for further proceedings in accordance with this opinion. U.E.C. Perm. The transient people are more the single guys. 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. . 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. WebThe second best result is Loren R Kopseng age 40s in Bismarck, ND in the Wachter's neighborhood. 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. 10. The store was selling showers: a half-hour of hot water for 10 bucks; $15 for a couple. Later, they and others formed a number of other companies, including Rainbow Gas, 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. 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. 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. 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. Loren is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. Lookup the home address and phone 7012261617 and other contact United Energy is part of the Energy, Utilities & Waste industry, and located in North Dakota, United States. WebFind company research, competitor information, contact details & financial data for Jurassic Resources Development North America, LLC of Bismarck, ND. He works for eight days, then takes six off. 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. They have also lived in Mandan, ND. 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. McFeely: North Dakota company appears poised to buy Differences arose and Jundt left in 1999. 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. [9]The corporate defendants appealed, contending the trial court abused its discretion in awarding Jundt $300,000 as an equitable remedy. Theres a couple of small towns that weve been checking out.. Corps. [11]The parties stipulated to the appointment of a special master. [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. Flying was Kopsengs dream job before he got the idea of building an oil company. Loren Kopseng, Ryan Kopseng. 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 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. Theres so many companies that are providing housing. 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.'". Nor have any grounds for ordering a sale of membership interests under N.D.C.C. 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. Yelp is a fun and easy way to find, recommend and talk about whats great and not so great in Bismarck and beyond. Well after well, 6,000 or more. 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. [25]This Court has not ruled on the corporate opportunity doctrine. 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. There is evidence supporting the court's finding that Jurassic's debts exceeded the appraised value of its assets. 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. Kopseng BISMARCK It's not like Loren Kopseng vehemently denied the company he runs, United Energy, is buying Coal Creek Station. He makes $12,000 to $14,000 a month. My husband and I both grew up as military kids, so were just doing whats gotta be done to help us move forward.. . The trial court awarded Jundt $300,000 for his membership units in Jurassic. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. Every day is different.. We got new trailers that we live in. Loren has reached 74 years of age. Karen Victoria Kopseng (1945-2006) - Find a Grave 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. In 2012 the company earned a net profit of $44.8 million on revenues of $5.7 billion. The Court intends through this equitable resolution that no party will be awarded costs and/or attorney fees. In his bag are clothes for his two-week rotation. They were visiting Dans father in Williston on their way to Big Sky, Mont., where Matt works at a ski resort. 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. Get the latest business insights from Dun & Bradstreet. Ryan Kopseng - Executive Vice President - United Energy - ZoomInfo (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. We may head closer to Bismarck, you know. Dawn M Kopseng, 75. The edge of the thermally mature part of the oil field. Now. WebLOREN KOPSENG Agent 919 South 7th Street Suite 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. Approached from the side with a horizontal shaft, the reservoir rock could be contacted for thousands of feet rather than for the hundred or so feet a vertical well would afford. Cloud Enters., Inc., 301 Minn. 261, 222 N.W.2d 83, 86 (1974). 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. Keep an eye out for radio towers, Kopseng said over the headset. 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. Seventy-two miles beyond Stanley, I pulled into Williston, which proudly advertises itself as the boyhood home of the N.B.A. Water trucks in the parking lot wore petticoats of mud. Missouri River Royalty Corp Company Profile | Bismarck, ND Mickie Riley, 40, second from right, with her family in their trailer in Williston. 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. 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.
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