For Pegula, shale shaped Sabres deal

Via: Buffalo News

‘In May, Pegula cashed in, selling East Resources to Royal Dutch Shell for $4.7 billion–about four times what the KKR deal valued the company at just 11 months earlier. It was a fabulous windfall, and most of it–more than $3 billion–fell into the pockets of Pegula, who had been East Resources’ sole shareholder until the KKR investment.’