This is Hellraid, a new "first-person co-op slasher" just announced by the folks at Techland, best known for polarizing games like Dead Island and Call of Juarez.
You can see more over at the new official website for Hellraid, which will be out this year for Xbox 360, PS3, and PC.
Now about the name Hellraid. Kind of an ambiguous title: is it a raid ON hell or a raid FROM hell? Let's ask Techland's press release:
The armies of Hell brought pain and destruction to the realm of man, and only a select few have the fighting skills necessary to confront the devilish monstrosities. Combining elements of hack & slash RPGs, first-person shooters and online multiplayer games, Hellraid features an advanced, immersive combat system with melee, ranged and magical weapons. The engaging Game Master system makes each game a different experience, placing loot and enemies while generating random online challenges.
OK, so it's a raid FROM hell. A Hellraid, if you will. Perfect time to put on your Warface.