Cody Campbell is the Co-Chief Executive Officer of Double Eagle Energy Holdings III LLC, a partnership formed with Apollo Global Management, and co-founder of Double Eagle Development. Campbell began his business career at Texas Tech University, where he and John Sellers founded a successful commercial real estate development firm. He graduated with honors with a Bachelor’s in finance and economics and a master’s in finance. After graduation, he played offensive guard for the Indianapolis Colts.Campbell is a member of YPO (Young Presidents’ Organization), serves on the Advisory Council for the Rawls College of Business at Texas Tech, and serves as a Board Member of the Texas Higher Education Coordinating Board. He lives in Fort Worth with his wife and four children.On this episode, Chris and Cody discuss:The story of their $6.4B sale to Pioneer.Discussion on current energy markets and policy.Why we need to change the narrative on oil & gas to attract more labor into the industry.We talk about the NCAA & NIL programs and how Texas Tech has built The Matador Club to support athletes.Support our Sponsors:Frank Kent CadillacCRE Daily Newsletter Fort Capital Juniper SquareLearn more about Chris Powers and Fort Capital: www.FortCapitalLP.comFollow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/Follow Chris on Twitter: www.Twitter.com/FortWorthChris Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Subscribe to The Fort on YouTube: https://www.youtube.com/channel/UCuJ32shRt8Od3MxMY-keTSQTopics:(4:31) - Selling Double Eagle 3 to Pioneer(8:33) - Why was the industry valuing on a price per acre vs. EBITDA?(10:21) - What do “bits & pieces” mean and how are you able to do it at scale?(13:12) - Have there been 2 types of oil businesses that emerged since the shale revolution?(14:01) - Was there ever a moment during the pandemic when you considered not drilling?(15:00) - When did it become clear that selling was the best option?(19:20) - What blows up a deal like this?(20:13) - Starting back up again(22:02) - What are you seeing in the current state of the energy market?(30:24) - Is there any shift in the capital markets?(32:29) - Why has the Biden Admin shifted its stance on domestic production?(34:49) - How much of an impact does the Russia/Ukraine conflict have?(36:42) - What are you seeing in the labor market for Energy and Oil & Gas?(38:57) - How can the industry change its marketing efforts to encourage people to work in this field?(40:30) - How does this industry bring the rest of the world out of poverty?(43:21) - What’s happening outside of the US as we globally see energy prices spike?(44:47) - Even if we all flipped to a pro-oil stance instantly, how deep are we in the hole already?(47:19) - What are the different acreage tiers in oil fields?(50:16) - If oil is at $92 today, what’s the rate of return for drilling a well?(51:50) - Is there any technology on the horizon that will make it easier to get oil out of the ground?(53:01) - Why did the Kline Shale flop?(54:55) - Why did the Permian basin end up being such a hit?(55:48) - Where do you think we will peak in 2023?(57:02) - What is the NIL within the NCAA?(1:01:29) - The Matador Club at Texas Tech(1:04:33) - Is there a worry that the schools with the most capital secede and create their own league?(1:06:14) - Focusing athletes on their education(1:08:08) - Who’s making the rules for NIL?(1:09:05) - What is it that continues to motivate you?The Fort is produced by Johnny Podcasts