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. Gloria Fronk Sun Lakes, AZ. 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. 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. Members may make loans to the Company from time to time, as authorized by the Board. As a subscriber, you have 10 gift articles to give each month. 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. Stay up-to-date with how the law affects your life. Brandi Wagner, 24, from Spokane, Wash., with her ex-boyfriend, Zachary Bolton, 27, a computer technician for American Casing and Equipment. They have also lived in Queen Creek, AZ and Bismarck, ND. One rainy May morning, I headed out to see the oil patch by car, driving north from Bismarck 110 miles to Minot, then west on Route 2. 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. Loren Kopseng in Bismarck, ND - Address & Phone Meanwhile you can send your letters to PO BOX 837, BISMARCK, ND, 58502-0837. In 1997 he and Russell consolidated various energy-related businesses into the privately held United Energy Corporation. UNITED ENERGY TRADING LLC Johnson, 21, commutes nine hours from Pennock, Minn., where hes from, to North Dakota to work in construction. That's why Lt. Gov. 2. Every 1 percent increase in the rate of recovery means another billion barrels.. But you just got so much influx from Texas, Louisiana, Pennsylvania, California, and people are just rude and inconsiderate. Previously city included Mandan ND. Plane makes emergency landing at Bismarck airport 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. 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. 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. The westward march of American industry was written in the quarters of plowed earth and section line roads, in the power-transmission towers and smoke-signal steam puffs drifting from a Tesoro refinery; it was visible even on the far horizon, at the edge of a fretted but still bracing emptiness, in the shape of giant windmills and the silhouette of a coal gasification plant. Theres no way to be right. By 2010 it had climbed to fourth. . Questions Post Question There are no questions yet for this company. We kind of liken it to being in the military, you know. WebUnited Energy Corp. CEO and President Loren Kopseng, left, and Gov. Karen Kopseng Obituary (2006) - Bismarck, ND - The Bismarck 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. We see that you have javascript disabled. 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. WebRelated To Sander Kopseng, Stephanie Kopseng, Loren Kopseng, Dawn Kopseng. . It feels as hard as a flagstone terrace. 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. 53 and there is no evidence establishing the special master's findings were clearly erroneous. "I'm supposed to say no comment," Kopseng said Wednesday, June 2, when reached by The Forum and asked directly whether he and the company of which he is president and CEO were negotiating to buy the coal-burning power plant located near Underwood, N.D. After a pause he said, "There should be something in a couple of weeks.". 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 . 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. Loren Kopseng, Ryan Kopseng. At a motions hearing, one of the defendants' attorneys told the court: We don't want [Jurassic] to be liquidated. 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 It has confounded kids running lemonade stands: 50 cents a cup but your customer has only hundreds in his payday wallet. [18]Jundt contends the trial court erred in ruling he was not entitled to tax write-offs flowing from his interest in Jurassic. He began working for The Forum in the 1980s while he was a student studying journalism at Minnesota State University Moorhead. 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. That gets old, that does get old. Brandi and Zachary broke up last week. It was locally owned, and the man sold the building for an enormous amount of money to somebody from out of state. Rainbow Energy Marketing Corp. a subsidiary of United Energy Corp., a Bismarck-based firm run by the oil tycoon Loren Kopseng has never owned a coal-fired power plant. Jundt has failed to carry his burden of proof as what he has offered is far too speculative. 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. 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. Resides in Bismarck, ND. Flying was Kopsengs dream job before he got the idea of building an oil company. 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. Summary. Jundt and Kopseng formed Jurassic. The matter is remanded for further proceedings in accordance with this opinion. 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. 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. After Jundt left Jurassic, Montana Heartland acquired the properties. Karen Victoria Kopseng (1945-2006) - Find a Grave Even a well-publicized investigation by the news Web site ProPublica that reported that there were more than 1,000 accidental releases of oil, drilling wastewater and other fluids in North Dakota in 2011 passed without much fuss. Kopseng took pictures hed done all the aerial photography for U.E.C.s annual report. Corps. 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. . 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. The rigs, they dont shut down for anything out here. Liquidation and partition are not appropriate equitable remedies in this case. 3 Fletcher Cyc. The Members acknowledge that the Company will be treated as a partnership for tax purposes. 9. Every master plan the city has prepared is obsolete by the time its printed. The downtown area was struggling for 25 years. 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. Memorial services will be held at 2 p.m. Saturday, Oct. 21, at Trinity Loren Kopseng is a resident of ND. Lawmakers passed several bills meant to buoy the coal industry [6]Jurassic's member control agreement, executed on January 26, 1998, provides in part: 3.08Additional Capital Contributions. loren kopseng bismarck, nd Relatives & Associates. Estimates have been continuously revised upward since a 1974 figure of 10 billion barrels. [14]The defendants contend the trial court did not apply the clearly erroneous standard required by N.D.R.Civ.P. People arent interested in stepping back.. The land is as good and, in some cases, better than before.. 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, The same article said United Energy in 2012 earned a net profit of $44.8 million on revenues of $5.7 billion. 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. Dancers at a performance of Snow White in Williston, N.D. We just learned that we have to move out of our dance studio, saidMelissa Lucy, 43, a co-owner of Dance Fever Performing Arts Studio. He began studying for his pilots license as a freshman in college. Officials calculate that each well in western North Dakota requires about 2,000 truck trips in its first year of operation. Lookup the home address and phone 7012261617 and other contact Mike McFeely is a columnist for The Forum of Fargo-Moorhead. Best of all, in a state where until recently young people often had to leave to find work, his two sons Ryan, an oilman, and Sander, a lawyer joined the company and built successful careers down the hall. 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. The defendants here asserted Jurassic lacked the financial ability to take advantage of the opportunity. WebKopseng Loren in Bismarck, reviews by real people. Kopseng Loren Kopseng - Address & Phone Number | Whitepages ADDITIONAL LINKS Post Question For This Company Contact Us Regarding Your Company Profile Learn About Our Pro Search Kopseng What challenges? It reverses decades of anxiety about out-migration and rural decline and death. Theres a couple of small towns that weve been checking out.. The town bought a 20-room apartment complex so that new city workers could have a place to live and was obliged to offer prospective police officers a housing allowance of $350 a month. 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. [5]Russell, Kopseng, Tschider, and Jundt executed an after-payout statement of membership interest on January 26, 1998, providing, in part: Time of Repayment. 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. A construction water tank at a new home development west of Williston. 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. I dont like North Dakota. WebLOREN KOPSENG Agent 919 South 7th Street Suite 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. 7. (Montana Heartland), and United Energy Corporation, a holding company. Jenkinson, a humanities professor, is a North Dakota author and columnist best known for his impersonation of Thomas Jefferson on public radio. 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. Its our gold rush, our Silicon Valley. Monthly oil production, which peaked in 1984 at 4.6 million barrels, fell to half and then went sideways for nearly a quarter-century. Concerns about the expenditure of company funds in the fall of 1998 led to action by the Board of Governors on February 22, 1999, which in turn led to the plaintiff's departure from the 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. He left a comfortable life in Newport Beach, Calif., to get into the oil business and hopes to buy land one day. The Court intends through its equitable resolution to end all controversy among the parties so they can all get on with their own endeavors free and clear of any concern about anything anyone is doing with Jurassic. You wont find a better ambassador of what the oil industry calls the play in western North Dakota than Loren Kopseng. Russell, who died in 2011, also wanted to get into oil and gas. 4. We had 12,500 people in the 2000 census, and we wanted to grow beyond that, he said, heading to the northern edge of town. Down below, dust clouds were boiling around a convoy of trucks hauling frack water and equipment on a county road. North Dakota Went Boom - The New York Times As the Husky droned west, the land began to change, growing drier, farms giving way to ranches. 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. . The trial court did not specifically adopt or reject the special master's determination 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. None of the grounds specified in N.D.C.C. Under paragraphs 1.11 and 2.09 of the Jurassic Operating Agreement, the members and the board of governors may take actions by the affirmative vote of a majority of the members or governors unless otherwise required by law or specified in the Articles of Organization of the Company or a member control agreement. Thus, the corporate defendants had the power to control Jurassic's business decisions. We got new trailers that we live in. Select this result to view Dawn M Kopseng's phone number, address, and more. He is working to earn a G.E.D. Whether he could use them or not, I don't know. 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. Oil has financed multimillion-dollar recreation centers and new hospital wings. He was elected to the Board of Commissioners in 1994 and returned to office five times. state leaders are championing the idea North Dakota could become a world leader in carbon-capture technology 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. BISMARCK It's not like Loren Kopseng vehemently denied the company he runs, United Energy, is buying Coal Creek Station. . Generally the formation was too thin to provide a worthwhile pay zone for a vertical well. Doug Burgum deferred questions about Coal Creek to Great River Energy, which declined comment citing nondisclosure agreements with potential buyers. I stopped for gas at a Cenex convenience store called Bakken Central, where help was wanted for all days, all shifts. 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. And then suddenly there were oil wells. See All Contacts. 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. 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. . 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? 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. 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. UET RR, LLC in Louisiana | Company Information & Reviews The sandstone of the Middle Bakken retained the shape of the drill bore better than the Bakken shale. Now people dont think that number is as crazy as it seemed. The majority owners impliedly disclosed to themselves and to Jurassic all of the relevant facts about Jurassic's asserted corporate opportunity to purchase WBI properties and elected to forego the opportunity. Loren is related to Sander Kopseng and Loren Roy Kopseng as well as 3 additional people. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. 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. 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. 861.10 (2002 Rev. Most of the Bakken oil is tight. The rocks are not porous and permeable enough for the oil to flow on its own. 6. 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.
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Originally published in the Dubuque Telegraph Herald - June 19, 2022 I am still trying to process the Robb Elementary...
