The Ledger / Terrence Pegula
Terrence Pegula
◼ Origin
Founded East Resources in 1984, building it into a major Appalachian natural gas producer through early Marcellus shale drilling; sold to Shell for $4.7B in 2010; subsequently acquired the Buffalo Sabres (2011) and Buffalo Bills NFL franchise (2014).
◼ Self-Made Verdict — YES
Founded East Resources in 1984; built Marcellus shale business from scratch in Bradford, Pennsylvania; sold to Shell for $4.7B.
◼ Documented marks
01
Founded East Resources in 1984 in Bradford, Pennsylvania; was an early Marcellus shale natural gas driller in Appalachian Pennsylvania and West Virginia.
02
Sold East Resources to Shell for $4.7 billion in May 2010, one of the largest US shale transactions at the time.
03
Purchased the Buffalo Sabres NHL franchise for approximately $189M in 2011, then the Buffalo Bills NFL franchise for $1.4B in 2014 — the highest price paid for an NFL team at that time.
04
East Resources' Appalachian drilling operations generated complaints from Pennsylvania landowners and the state DEP about water contamination and drilling violations in the late 2000s.
05
The Pegulas have remained out of significant public controversy since 2010; primary public presence now relates to Buffalo sports ownership.
No inheritance, or primary accounts documented for this billionaire yet.
◼ List of charges
No documented charges yet.
These are moral charges, not legal ones. The actual legal system has not — and will not — bring them.
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