‘At his introductory news conference, Terry Pegula said he would pour an infinite amount of resources into bringing a Stanley Cup to Buffalo – “If I want to make money, I’ll drill another well,” he quipped – but the natural gas business isn’t doing much for Pegula these days. His companies stopped drilling months before the pandemic because of a decrease in demand and low prices in the oil and gas industry. The price of natural gas closed Thursday at $1.69 per 1,000 cubic feet, a 21% drop since his Pennsylvania-based JKLM Energy stopped drilling in July.’
Pegula Sports and Entertainment could look different moving forward
Source: Buffalo News