Jundt and Kopseng formed Jurassic. The trial court awarded Jundt $300,000 for his membership units in Jurassic. 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. Stay up-to-date with how the law affects your life. 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. The Registered Agent on file for this company is Loren R Kopseng and is located at 919 S 7th St Ste 405, Bismarck, ND 58504-5835. AVERAGE AGE. While they were buying houses and investing in mutual funds, he was in debt-work-out negotiations with Halliburton. Across the highway, workers were pouring concrete for a new Fuel Force gas station and rolling out sod on a fresh tract of homes. . Infinity nagged at the scale of things. Now people dont think that number is as crazy as it seemed. 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 for closure in 2022 by its current owner, Great River Energy of Minnesota. [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. Lookup the home address and phone 7012261617 and other contact Oil has financed multimillion-dollar recreation centers and new hospital wings. They have also lived in Mandan, ND. 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. The Court intends through this equitable resolution that no party will be awarded costs and/or attorney fees. 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. 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. and plans on getting a truck-drivers license. The company has 3 contacts on record. 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. He makes $12,000 to $14,000 a month. Missouri River Royalty Corp Company Profile | Bismarck, ND 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. Loren Kopseng Bismarck, ND. 8. WebLOREN KOPSENG Agent 919 South 7th Street Suite 405 Bismarck, ND 58504 Reviews Write Review There are no reviews yet for this company. 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. 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. 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. The downtown area was struggling for 25 years. But under ultraviolet light, you can see telltale oil shows, and it has a faint smell of diesel fuel. Kopseng The debts of the company exceed the appraisal value determined by the Special Master as of November 27, 2001. Contact & Personal Details. 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. 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. Now. . 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. A spokesman for North Dakota Gov. Were gonna do a three-year stint. But you just got so much influx from Texas, Louisiana, Pennsylvania, California, and people are just rude and inconsiderate. 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. One morning, Ward Koeser, president of the Williston City Commission, offered to show me around. If you hold a piece of Middle Bakken, its hard to believe it contains oil at all, or that it could function as a reservoir for oil migrating under pressure from the carbon-rich shale around it. And then they would go back to their cars and trucks to wait with the engines running, their faces wreathed in coffee steam. Q. WebDawn Kopseng in Mandan, North Dakota. Please enable javascript and refresh the page to continue reading local news. 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. He's been with The Forum full time since 1990, minus a six-year hiatus when he hosted a local radio talk-show. 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. 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. [11]The parties stipulated to the appointment of a special master. WebLoren Kopseng. 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. The twice-a-month town-commissioner meetings that used to take 45 minutes can now run from 6 p.m. to midnight. . With Russell handling the financial side, Kopseng acquired distressed oil and gas wells in the Williston Basin. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. 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. As a subscriber, you have 10 gift articles to give each month. People arent interested in stepping back.. 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. Almost half of the kids that are there are from out of state. He has since dropped out and is busing tables at Grandma Sharons Family Restaurant. That's why Lt. Gov. 3 Fletcher Cyc. 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. In truth, it seems less an assessment of what humanity can expect when it is done devouring the earths nonrenewable resources than a prayer that reflects a faith unique to the place where Link was born, faith that all those caved-in cabins, withered towns and stillborn dreams and whatever is left when the oil is gone can be redeemed. I get paid to get dirty and filthy as I want all day., Left to right: Aaron Janiak, Andrew Johnson and Justin Schoessow. Nor have any grounds for ordering a sale of membership interests under N.D.C.C. [3]Jundt left his position with Williston Basin Interstate Pipeline Company (WBI) in 1997 and became an employee of Rainbow Gas. Corps. Why United Energy? Washington Post . 10-32-119. Karen V. Kopseng, 61, Bismarck, passed away Oct. 19, 2006, at Medcenter One, Bismarck. 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.. . He began working for The Forum in the 1980s while he was a student studying journalism at Minnesota State University Moorhead. WebThe Registered Agent on file for this company is Loren Kopseng and is located at 919 South 7th Street Suite 405, Bismarck, ND 58504. There is evidence supporting the court's finding that Jurassic's debts exceeded the appraised value of its assets. 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. 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). Bismarck [16]Jundt and the defendants told the trial court they wanted to sever their business relationship. 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 McFeely: North Dakota company appears poised to buy If an oil company wants to put a well site on your land to search for minerals, its hard to deny them. And he says that the kind of development the boom era has brought is taking away the natural beauty of the land.. 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. While they were buying houses and investing in mutual funds, he was in debt-work-out negotiations with Halliburton. 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. Loren Kopseng, Bismarck Public Records Instantly Reviews. 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. Loren currently resides at 2750 Wilderness Cove Rd, Bismarck, ND. Questions Post Question There are no questions yet for this company.