3. ECA Marcellus Trust (ECT) is a trust formed by Energy Corporation of America (ECA) to own royalty interests in 14 producing natural gas wells in Marcellus Shale in Greene County, Pennsylvania. The royalty interest allows the Trust to receive 90% of proceeds from the sale of production of natural gas from ECA's interest in the producing wells.
It has also secured royalty interests in 52 horizontal natural gas development wells to be drilled in the Marcellus Shale held by ECA in Greene County, Pennsylvania. The company currently produces 15 million cubic feet per day from the Marcellus.
Analysts polled by Bloomberg give the stock 80% buy ratings. The stock is trading at 12.8 times its estimated 2012 earnings.
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