On the ground level, out in the field, it makes an incredible amount of sense, says Cody Campbell, co-CEO of DoublePoint. The acreage is a significant addition to Pioneer Natural Resources' portfolio. Last night, Pioneer Natural Resources announced the acquisition of DoublePoint Energy for $6.4 billion.
Cody Campbell's Journey in the Oil and Gas Industry
When it comes to Cody Campbell's net worth, estimates suggest that his wealth is in the millions, thanks to his successful business ventures and strategic investments. Cody Campbell, a name that resonates in the world of entrepreneurship and business, has steadily climbed the ladder of success with his exceptional skills and determination.
Campbell is the co-chief executive officer and co-founder of Double Eagle Energy Holdings, headquartered in Fort Worth. His term as a board member will expire on January 31, 2027. Campbell’s leadership has been instrumental in building a standout asset that significantly enhances Diamondback's high-quality inventory.
A Major Texas Tech Booster
Cody Campbell, a major Texas Tech booster, sold his oil and natural gas company on Tuesday for approximately $4.08 billion. This deal underscores his ability to navigate the complexities of the energy sector while maintaining a strong connection to his alma mater. Fort Worth-based Double Eagle IV Midco LLC, co-founded by Campbell, has consistently demonstrated its value through strategic acquisitions and partnerships.
Rising Stars in the Energy Sector
Headquartered in Fort Worth, Texas, Double Eagle has earned recognition for its innovative approach to energy development. In October 2015, Cody Campbell and John Sellers were honored as Rising Stars in the 30 Under 40 list, highlighting their contributions to the industry. Their journey began seven years ago when they founded Double Eagle as fledgling entrepreneurs at the age of 28.
We were buddies, we played right next to each other along the offensive and defensive lines, Cody Campbell reminisced about his early days with John Sellers. Together, they transformed their passion for sports into a thriving energy enterprise.
The Permian Basin Deal
Diamondback Energy has entered into a definitive agreement to acquire Double Eagle, significantly expanding its presence in the Permian basin. The deal, valued at approximately $4.08 billion, includes 6.9 million shares of common stock and $3 billion in cash. This acquisition represents another huge payday for the team led by oil entrepreneurs Cody Campbell and John Sellers.
Prolific oil and gas developer Double Eagle is exploring a sale of its latest Permian Basin-based producer in a deal that could be worth more than $6.5 billion, including debt, according to people familiar with the matter. The assets are primarily located in the Permian Basin, all non-operated, reflecting Double Eagle's strategic focus on high-value regions.
A Game-Changing Acquisition
Texas Tech booster Cody Campbell and his partner have sold certain subsidiaries of their Fort Worth-based oil and gas firm Double Eagle IV Midco LLC for more than $4 billion. Diamondback Energy plans to purchase Double Eagle IV, a firm whose founders are Texas Tech philanthropists. The acquisition includes around 40,000 net acres that Diamondback CEO Travis Stice described as the most attractive asset remaining in the Midland basin.
This acceleration is expected to bring forward Net Asset Value, further solidifying Diamondback's position in the industry. Those deals now total nearly $10 billion, making Campbell one of the Texas oil patch's most prolific dealmakers of recent years.
Beyond Oil: Cody Campbell's Influence
Cody Campbell is not only known for his achievements in the energy sector but also for his involvement in various other fields. As Chairman of the Board of Regents of the Texas Tech University System, he continues to contribute to education and community development. With over 500 connections on LinkedIn, Campbell's professional network reflects his extensive influence and reach.
Despite the Biden administration’s climate concerns, demand for domestic fuel has surged. And those who took risks, like Cody Campbell, are cashing in. His story serves as an inspiration for aspiring entrepreneurs and a testament to the potential rewards of perseverance and innovation in the ever-evolving energy landscape.
