Join Accent Resources Take Over CNX & Hess Assets - $400 . Two independent producers CNX Resources Corp.& Hess Corp. announced morning each its previously announced deal substantially all its joint assets roughly $400 cash. Ascent Resources  the benefits  joint $400 .

Ascent Resources—Utica, founded Chesapeake Energy co-founder Aubrey McClendon leading private exploration production focused acquiring, exploring for, developing, producing operating gas and oil properties the Utica Shale. The capitalized equity investments various private equity sponsors, led funds managed The Energy & Minerals Group and First Reserve.

The sale previously announced late but finally on 31, 2018, according the . deal divestiture includes 50 producing wells average net revenue interest (NRI) of 48%; five 50% ; two 50% and approximately 26,000 undeveloped acres.

CNX, according the , expects the proceeds the sale to be used to down , the ongoing repurchase program, invest in drilling and completion activities to bolt-on acreage acquisitions as opportunities .

“The transaction is immediately accretive and brings forward the of assets were outranked other in CNX’s ,” Nicholas J. Deluliis, CNX president and CEO.

 

 

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