Eca Marcellus Trust I Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 13, 2019 at 02:40 am IST
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ECA Marcellus Trust I announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced total revenue was USD 715,334 compared to USD 1.484 million a year ago. Net income was USD 375,256 compared to USD 1.369 million a year ago. Basic earnings per share from continuing operations was USD 0.021 compared to USD 0.078 a year ago.
For the nine months, total revenue was USD 3.407 million compared to USD 4.499 million a year ago. Net income was USD 2.165 million compared to USD 3.542 million a year ago. Basic earnings per share from continuing operations was USD 0.122 compared to USD 0.201 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 
