Shale Drillers Hold Fast as Crude Prices Edge Toward $100 Mark

Shale drillers are resisting the lure of soaring oil prices and holding fast to production targets drawn up before crude began its ascent toward $100, said activist investor Ben Dell.

“Operators are not investing in supply,” Dell, co-founder and managing partner of Kimmeridge Energy Management Co., said during a Bloomberg Television interview on Friday.

WATCH: Ben Dell says oil will surpass $100 per barrel.

Source: Bloomberg

Benchmark US oil futures have climbed 34% since touching a 19-month low in mid-March as robust energy demand butts up against output restrictions by Saudi Arabia and other major producers. Earlier this week, Chevron Corp. Chief Executive Officer Mike Wirth joined the chorus of ...