PITTSBURGH — Consol Energy expects to invest $122 million in its Utica shale joint venture with Hess Corp. in 2013, the company reported this morning.

Of that amount, $90 million will be allocated toward drilling capital on Consol’s share of 27 wells in the Utica shale. Hess Corp. pays 75% of the Utica well costs because of a $100 million drilling carry, while production is split 50/50.

Consol has finished drilling a well in Ellsworth Township and is drilling a well in Jackson Township, both in Mahoning County.

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