Eca Marcellus Trust I Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 10, 2019 at 01:36 am IST
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ECA Marcellus Trust I announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced total revenue was USD 1.013 million compared to USD 1.486 million a year ago. Net income was USD 656,995 compared to USD 1.127 million a year ago. For the half year, total revenue was USD 2.692 million compared to USD 3.014 million a year ago. Net income was USD 1.790 million compared to USD 2.172 million a year ago.
ECA Marcellus Trust I (the Trust) is a statutory trust. The Trust does not conduct any operations or activities. The Trust's purpose is to hold the Royalty Interests, to distribute to the Trust unitholders cash that the Trust receives in respect of the Royalty Interests after the payment of Trust expenses, and to perform certain administrative functions in respect of the Royalty Interests and the Trust units. The Trust owned royalty interests in the 14 Producing Wells and royalty interests in 52 horizontal natural gas development wells to be drilled to the Marcellus Shale formation within the area of mutual interest (AMI), in which Legacy ECA holds approximately 9,300 acres, of which it owned all the working interests, in Greene County, Pennsylvania. The Trust also holds royalty interests in over 40 development wells that are in production. Its subsidiary, Greylock Production, LLC, which operates subject wells. The Bank of New York Mellon Trust Company, N.A. serves as Trustee.
ECA MARCELLUS TRUST I 
