On today's episode of The FORT, Chris is joined by Trent and Tyler Leon, Co-Founders of Tilden Capital, which was formed to acquire mineral & royalty assets across the United States. Since its inception, they have acquired 160,000 net royalty acres. Tyler and Trent are also former professional golfers and have been as close as brothers with Chris for nearly a decade. Today they'll discuss their journey into the mineral business, evaluating the worth of minerals, vertical and horizontal drilling, leasing vs. buying minerals, the oil and gas industry in light of the election and COVID, and much more! Enjoy.    Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitallp.com (02:45) - Tyler and Trent’s Story (06:13) - Were oil and gas always part of your life? (07:06) - Was there a moment that The Eagleford came up on your radar as something that would be important? (09:19) - Did you start in the Permian Basin? (10:14) - What triggered you to be in the Delaware Basin? (12:32) - Why was no one else seeing what you were seeing? (13:41) - How do you evaluate what a mineral is worth? (14:32) - How do you find out if and when something will be drilled? (15:56) - Why doesn't it matter to the mineral owner how much it costs to drill? (16:49) - Why can you drill so much more in some areas than others? (17:48) - Do you shoot for things that produce more oil or more gas? (19:56) - What’s the differences between the Permian and Delaware basin? Why do people prefer one over the other? (21:00) - What are the main reasons people will sell their minerals? (24:20) - Do you think Vertical Drilling will make a comeback? (25:20) - Leasing vs. Buying Minerals (27:00) - Three Ways to Make Money in Minerals (28:17) - What happens legally when a person passes away without a plan to transfer ownership of minerals? (29:09) - What’s the difference in buying between Texas and New Mexico? (31:00) - What does the change in The White House mean for the industry? (33:51) - Is there a rush of operators getting a permit to beat the inauguration? (34:13) - How did your partnership with EnCap impact your career? (35:48) - What have you learned since working with one of the best oil and gas PE firms in the world? (37:16) - How has your strategy evolved since 2015? (38:06) - What amount of oil are you getting when you drill? (39:18) - If you’re going to sell, is it better before the first well is drilled or after a year when 80% of the oil is taken out? (41:16) - If you get someone to sell, how do you get the deal to closing? (43:54) - How do you confirm you get every drop of oil that you deserve? (46:58) - What do you think the industry for mineral owners will be going forward beyond ‘buy it, flip it’? (48:33) - Is it fair to say Royalty Trusts have not out-performed in the public markets? (49:43) - What gets capital flowing back into the industry again? (52:09) - Is Wall Street out of touch with how this industry impacts the world? (52:40) - Does it bode well for oil prices that there's a hampering of drilling? (53:29) - What was the peak rig count vs. today? (54:26) - What’s one of the biggest misnomers about the industry? (57:11) - What does ESG mean and why is it a big thing to talk about? (59:01) - Is there a new revolution coming to get more oil out of the ground? (1:00:51) - How has golf impacted your career? (1:03:08) - What’s the best advice you’ve ever received? The FORT with Chris Powers is produced by Straight Up Podcasts