Join Accent Take CNX & Hess Assets On - $400 . independent producers CNX Corp.& Hess Corp. announced morning has on its previously announced deal sell substantially all its joint assets roughly $400 cash. Ascent   the buyer benefits  joint $400 .

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

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

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

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