ECA Marcellus Trust I (NYSE:ECT) is a statutory trust formed in March 2010 to own certain royalty interests as summarized below and to distribute to the Trust unitholders cash that the Trust receives in respect of the royalty interests after the payment of Trust expenses. The Trust does not conduct any operations or activities. In view of the unusual market activity in the Trust’s Common Units of Beneficial Interest on March 5, 2013, the New York Stock Exchange contacted the Trust on March 6, 2013 in accordance with its usual practice. The Trust stated that its policy is not to comment on unusual market activity.
The Trust was formed by Energy Corporation of America (“ECA”) to own royalty interests in natural gas properties owned by ECA in the Marcellus Shale formation in Greene County, Pennsylvania, and is entitled to receive certain amounts of the proceeds attributable to ECA’s interest in the sale of production from the properties. As described in the Trust’s filings, the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of production and natural gas prices and the amount of the Trust’s administrative expenses, among other factors.
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