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 Cadillac CRE Daily Newsletter  Fort Capital  Juniper Square Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow 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-keTSQ Topics: (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