Ascent Resources has agreed to purchase Hess’ and CNX Resources’ 50-50 joint venture in the Utica shale play in eastern Ohio for $400 million, according to Seeking Alpha.

The sale includes 39,000 net acres, 26,000 of which are underdeveloped acres. The net production of the asset to estimated to average 14,000 boe/day this year.

Hess will also retain its interests in Denmark, where it holds a 61.5. percent interest in the South Arne Field and is the operator, after offers received in a sale process did not meet its value expectations.

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