First Lieutenant Petersen was a veteran of World War II. In Korea, he was a member of Battery B, 61st Field Artillery Battalion, 1st Cavalry Division. He was Killed in Action while delaying the Chinese assault near Kunu-ri, North Korea, approximately 100 miles north of Pyongyang on 25 November 1950.

Petersen was awarded the Purple Heart, the Korean Service Medal, the United Nations Service Medal, the National Defense Service Medal, the Korean Presidential Unit Citation, the Republic of Korea War Service Medal and the World War II Victory Medal.