Its hard to think of what oil hasnt done to life in the small communities of western North Dakota, good and bad. 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. at 22. Brandi had plans to attend beauty school. The first horizontal well in the Bakken was spudded by Meridian Oil in 1987, long before the current boom. at 862.10. One morning, Ward Koeser, president of the Williston City Commission, offered to show me around. 1. and plans on getting a truck-drivers license. Theres a lot of other people out there that are still living in trailers and stuff. 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. 4. 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. 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. Its a very hard industry to break in to. 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. 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. ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile Learn About Our Pro Search 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. 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. 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. 10-32-119(1) have been established. 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. The timing might not have seemed auspicious; companies were quitting the Williston Basin, unable to sell their product for more than it cost to produce. I tried for almost a year to apply online and calling people and no one would hire me. 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. 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. Please try again. 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. Just how much oil is in the Bakken is still unknown. It may also be that the lack of dissent reflects the way North Dakotans idealize themselves as more inclined to endure than to complain, certain it takes a special temperament to live in such forbidding country, where winters are brutal and culture is thin. 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 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. 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. 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. It transports by rail 82,000 barrels of oil a day to refineries. We affirm in part, reverse in part, and remand for further proceedings. 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. Such implied disclosure and consent to Montana Heartland's acquisition is a permissible inference. DKs Lounge and Casino in Williston. Stay up-to-date with how the law affects your life. Comprehensive company profiles. 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. 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. They raised our rent from like $900 a month to, well she wanted $1,500 deposit and $2,500 a month. He began working for The Forum in the 1980s while he was a student studying journalism at Minnesota State University Moorhead. Summary. 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. Its that easy., Christina Knapp, 22, is a tattoo artist from Phoenix, Ariz. A couple of the guys I work with do a lot of the rig tattoos. . 8. At the time, North Dakota was ranked ninth among U.S. oil-producing states. WebKopseng Loren in Bismarck, reviews by real people. There was undisguised horror in Kopsengs voice when he realized I had been obliged to open an airsickness bag in the back seat. It took me all night. Under any of the theories, Jundt has failed to meet his burden. The twice-a-month town-commissioner meetings that used to take 45 minutes can now run from 6 p.m. to midnight. [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. Loren Kopseng 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. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. Members may make loans to the Company from time to time, as authorized by the Board. 53 and there is no evidence establishing the special master's findings were clearly erroneous. 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. Many thousands more will be spudded in the next two years as the boom moves from discovery to production and crews drill infill wells, complete pipelines, fortify roads, enlarge refineries and build natural-gas pumping stations and oil-loading train yards. 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. WebThe Registered Agent on file for this company is Kurt Batenhorst and is located at 20405 State Highway 249, Suite 850, Houston, TX 77070. He is working to earn a G.E.D. Loren Kopseng Bismarck, ND. Originally from South Dakota, he was meeting with other KNS employees at the Scenic 23 Club in New Town. It feels as hard as a flagstone terrace. Cloud Enters., Inc., 301 Minn. 261, 222 N.W.2d 83, 86 (1974). (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? The Members acknowledge that the Company will be treated as a partnership for tax purposes. . After he married and started a family, it was his wifes friends who looked at him sideways. [8]The trial court found, among other things: 3. 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. WebLoren Kopseng Active Bismarck, ND Chairman for Rainbow Energy Marketing Corporation (701)222-4909 Overview 6 Companies 15 Connections 4 Locations Its hard to say whether the hope and grandeur of that vision are deeper than its delusions. , He seemed stunned by the pace of change; or maybe just exhausted. And then they would go back to their cars and trucks to wait with the engines running, their faces wreathed in coffee steam. No member shall have any obligation to make additional capital contributions to the Company or to fund, advance, or loan monies which may be necessary to pay deficits, if any, incurred by the Company during the term hereof. Statistics for all 2 Ryan Kopseng results: 40 yrs. The biggest danger on many dirt and gravel roads is blinding plumes of dust. While coal backers have touted carbon capture and storage as a path to continued viability, it has never worked on a large commercial scale. Its like guessing how many jelly beans are in a jar., The current recovery rates for Bakken reserves typically range from 1 to 6 percent, but recovery rates are a function of both technology and market prices. 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. Kopseng told the Times he turned things around in the mid-1980s after he met Mandan businessman Don Russell. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. 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 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. . Questions Post Question There are no questions yet for this company. WebLOREN KOPSENG Agent 919 South 7th Street Suite 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. 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. The downtown area was struggling for 25 years. (Montana Heartland), and United Energy Corporation, a holding company. From the Husky, it was easy to overlook environmental issues and fathom the appeal of oil development easy to see the allure of a derrick dressed up in lights and looming 10 stories over a desolate landscape where the leading academic solution to social and economic stagnation had been to surrender and let the land lapse into buffalo commons. 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. which nationally has been declining for decades that included tax breaks, grants and loans. 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. Its our gold rush, our Silicon Valley. In July 2012, monthly oil output reached 20.97 million barrels, and North Dakota was the largest oil producer in the country after Texas. 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. Relatives & Associates. The actual amount of the tax write-offs is controlled by Article IV of the Member Control Agreement. Learn more about FindLaws newsletters, including our terms of use and privacy policy. Thats the line of death, Kopseng said. 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 dust busters in Williams County discovered that spraying a soy-based oil works well, but it isnt practical because it makes the roads taste so good that cows come out of the fields and try to eat them. 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. It has fitted highways with passing lanes and rumble strips. 9. Ed.). Kopseng [29] WILLIAM A. NEUMANN, Acting C.J., JAMES M. BEKKEN,* D.J., MARY MUEHLEN MARING, and DALE V. SANDSTROM, JJ, concur. Loren Kopseng in Bismarck, ND - Address & Phone 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.
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