[1] Based in Cattaraugus County, New York through much of the late 20th century the company specialized in oil.

In 2008, the company began focusing on natural gas through hydraulic fracturing.

It profited heavily upon discovery of deep layers of natural gas in the Marcellus Formation and development of the hydraulic fracturing ("fracking") recovery process.

[2] At the height of the company it was based in Parkersburg, West Virginia with additional offices in Warrendale, Pennsylvania, Allegany, New York, and Denver, Colorado, with natural gas processing facilities in Northern Pennsylvania.

Pegula continues to own some natural gas assets through other companies, including Greater Rocky Mountain Regional Oil & Gas in Colorado and Wyoming, and JKLM Energy (named after the initials of Pegula's children) in Pennsylvania.