Gemma
2 years ago
ECA MARCELLUS TRUST I (OTC Pink: ECTM) announced today that the Trustβs distribution for the quarter ended June 30, 2022, will be $0.176 per unit, which is expected to be distributed on or before August 31, 2022 to holders of record as of the close of business on August 19, 2022. As previously disclosed, commencing with the distribution to unitholders paid in the first quarter of 2019, the Trustee has withheld, and in the future intends to withhold, the greater of $90,000 or 10% of the funds otherwise available for distribution each quarter to gradually build a cash reserve of approximately $1.8 million.
interloper
2 years ago
Company Summary
ECA Marcellus Trust I (the Trust) is a statutory trust. The Trust is formed by Energy Corporation of America (ECA) to own royalty interests in natural gas properties owned and operated by ECA in the Marcellus Shale formation in Greene County, Pennsylvania. The Trust's purpose is, in general, to hold the Royalty Interests to distribute to the Trust unitholders cash and to perform certain administrative functions in respect of the Royalty Interests and the Trust units. The Trust owns royalty interests in over 14 Producing horizontal natural gas wells (the Producing Wells), and royalty interests in over 52 horizontal natural gas development wells to be drilled to the Marcellus Shale formation (the PUD Wells) within the area of mutual interest (AMI), in which ECA holds approximately 9,300 acres, of which it owned all of the working interests, in Greene County, Pennsylvania. It owns Royalty Interests in over 40 development wells that are in production.
renoldman
12 years ago
Natural Gas had the crap kicked out of it last year.
This sound silly, because the price has gone back up, but ....
In the last couple of weeks, companies have been releasing 10-Ks.
For Trusts, you can see what the expected Fair Value of Cash flows is.
You can imagine that when a trust shows a fair value of its assets of about $80 Million .... things don't look that great when the market gives it a $300 Million Value ....
In addition to this, the principals have indicated that they have exchanged the subordinated units for common units. This means they will receive better distributions and have a market to sell their units.