ECA Marcellus Trust I Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 04:07 pm EST
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ECA Marcellus Trust I reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 0.449893 million compared to USD 3.68 million a year ago. Net income was USD 0.101952 million compared to USD 3.16 million a year ago. Basic earnings per share from continuing operations was USD 0.006 compared to USD 0.18 a year ago.
For the nine months, revenue was USD 2.2 million compared to USD 9.23 million a year ago. Net income was USD 0.862034 million compared to USD 7.93 million a year ago. Basic earnings per share from continuing operations was USD 0.049 compared to USD 0.45 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 
