Not that they ever really left.  By the boys, we mean the dynamic billionaire duo behind PE-backed Double Eagle Energy. By town, we mean Perm Land, where co-founders and co-CEOs Cody Campbell and John Sellers continue to make oil and gas magic. Throughout its iterations in a relatively short time, the company has wowed Wall Street and investors with the sale of Double Eagle III in 2021 for $6.4 billion and Double Eagle IV earlier this year for $4.1 billion. Like they say, there’s no rest for the weary, especially when you’re in search of hydrocarbon gold.

Reese Energy Consulting today is following the latest from Fort Worth-based Double Eagle, which didn’t waste a breath to leap back into the Permian one day after closing the $4.1 billion sale in April to Diamondback Energy. As part of the deal, Diamondback and Double Eagle agreed to put the giddy-up to develop a portion of Diamondback’s non-core southern Midland acreage.

With a $2.5 million equity commitment from Encap, Double Eagle put a Roman numeral five to its latest iteration along with mineral subsidiary Tumbleweed V. Since then, Campbell and Sellers are leasing bigtime in the oil-rich Barnett in the Permian’s Central Basin Platform. Neighbors include Elevation Resources, Continental Resources, and Epsilon Energy.