Kim and Terry Pegula flanked by PSU President Graham Spanier and Athletic Director Tim Curley
Penn State, often known as Happy Valley, is now also Hockey Valley, thanks to an $88 million donation to fund a new ice arena and establish NCAA Division I hockey programs for men and women. The donation was made by Terry Pegula, a Penn State petroleum and natural gas engineering graduate, and his wife Kim. The Pegulas recently sold their exploration and development company, East Resources, to Shell for a reported $4.7 billion. East Resources has extensive holdings in the Marcellus Shale, a major component of the emerging “natural gas revolution” in the US.
Although Terry and I had the same major at Penn State, he graduated two years after me and I did not know him. Nonetheless, I want to congratulate Terry for his phenomenal success and generosity. The Pegulas’ unprecedented contribution will have major recreational, economic, and social benefits for Happy Valley and all of Central Pennsylvania.
Bud's Offshore Energy (BOE) 