ECA Marcellus Trust I Profile
ECA Marcellus Trust I owns royalty interests in producing horizontal natural gas wells.
As of December 31, 2022, the company owned Royalty Interests in the 14 Producing Wells (the Producing Wells) and the 40 development wells (52.06 Equivalent Marcellus Shale formation (PUD Wells)) that are completed and in production. The 14 Producing Wells and the 40 development wells (52.06 Equivalent PUD Wells) (the Trust Wells). The company's PUD Wells are within the area of mutual interest (AMI), in which Energy Corporation of America and its wholly-owned subsidiaries (Legacy ECA) held approximately 9,300 acres, of which it owned substantially all of the working interests, in Greene County, Pennsylvania. The AMI consisted of the Marcellus Shale formation in approximately 121 square miles in Greene County, Pennsylvania.
The royalty interests were conveyed from Legacy ECA's working interest in the Producing Wells and the PUD Wells limited to the Marcellus Shale formation (the 'Underlying Properties'). The royalty interest in the Producing Wells (the 'PDP Royalty Interest') entitles the Trust to receive 90% of the proceeds from the sale of production of natural gas attributable to the Sponsor's interest in the Producing Wells for a period of 20 years commencing on April 1, 2010, and 45% thereafter. The royalty interest in the PUD Wells (the 'PUD Royalty Interest' and together with the PDP Royalty Interest, the 'Royalty Interests') entitles the Trust to receive 50% of the proceeds from the sale of production of natural gas attributable to the Sponsor's interest in the PUD Wells for a period of 20 years commencing on April 1, 2010, and 25% thereafter.
The Underlying Properties consist of the working interests owned by Greylock Production and the Private Investors in the Marcellus Shale formation in Greene County, Pennsylvania arising under leases and farmout agreements related to properties from which the PDP Royalty Interest and the PUD Royalty Interest were conveyed.
History
ECA Marcellus Trust I was founded in 2010 under the Delaware Statutory Trust Act. The company was incorporated in 2010.
