Join Accent Take CNX & Hess Assets Ohio- $400 million. independent producers CNX Corp.& Hess Corp. announced morning each has its previously announced deal sell substantially all its Ohio joint assets roughly $400 million . Ascent   benefits  joint $400 million.

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

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

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

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