Cody Campbell is 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 as a student 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. On this episode, Chris and Cody discuss the early days of building Double Eagle, the state of oil & gas and its opportunities and challenges ahead, what things might look like under a Biden administration, how they were able to partner with Apollo, and much more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com (02:15) - Cody’s Background and Business Career to Date (11:12) - What’s an option of a lease? (13:45) - How long would you anticipate you’d have to sit on a lease before it sells? (15:57) - When did you formalize that Double Eagle would be your full-time job? (18:39) - When did you partner with Apollo? How did that relationship start? (23:31) - What was it like working with Aubrey McClendon? (25:45) - Was Double Eagle #2 similar to Double Eagle #1? (28:00) - How long did Double Eagle #2 take from start to finish? (28:50) - When were you able to get away from the scrutiny of being able to purchase deals? (29:43) - Why did you choose the Midland over the Delaware? Are there major differences between them? (31:09) - How many transactions does it take to put together 70,000 acres in the Midland? (31:55) - When you’re buying thousands of leases, how often are you committing to a lease that you know still needs some work? (33:47) - What’s the minimum amount of acreage needed to be able to drill? (35:01) - You’ve sold Double Eagle #2, so what does Double Eagle #3 look like? (37:32) - With today’s technology, how many drilling sites could you have? How much oil can you get from these 96,000 acres? (39:06) - Do you hedge your oil? Are you able to decide that or does Apollo choose? (39:42) - Do you put the hedge in before you drill a well or during? (40:29) - How big is your team now? (40:48) - How do you see where we are today vs. previous downturns? What's different this time? (41:47) - What gives people a reason to think that the industry wouldn’t exist in the future? (43:35) - What does ESG mean? (50:40) - Is there any light at the end of the tunnel to get us past this? (52:50) - Is it a good thing for oil prices to go back up? (55:25) - Do you have any comments on our relationship with other oil-producing countries? (56:03) - What happens if we don’t keep drilling? (57:36) - Have we found all the energy in the world? (58:06) - Is there any technology on the horizon to get more out of the ground? (58:51) - What are your thoughts on the new presidential administration's impact on the industry? (1:00:21) - How long is a drilling permit good for? (1:01:22) - Why is the Permian Basin the most prolific in the country? (1:02:02) - How are things valued deal to deal? (1:02:46) - What was it like to host POTUS at one of your wells? The FORT with Chris Powers is produced by Straight Up Podcasts