ECA马塞勒斯信托I单位2025年季度报告

FORM10-Q or Commission File Number: 001-34800 ECA MARCELLUS TRUST I (Exact name of registrant as specified in its charter) Delaware(State or other jurisdiction of The Bank of New York MellonTrust Company, N.A., TrusteeGlobal Corporate Trust 601 Travis Street, 16thFloorHouston, Texas(Address of principal executive offices) 77002(Zip Code) (512) 236-6555(Registrant’s telephone number, including area code) Securities registered pursuant to Section12(b)of the Act: None Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Large accelerated filer¨Accelerated filer¨Non-acceleratedfilerxSmaller reporting company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes¨Nox As of May 13, 2025, 17,605,000 Common Units of Beneficial Interest in ECA Marcellus Trust I were outstanding. TABLE OF CONTENTS References to the “Trust” in this document refer to ECA Marcellus Trust I. As discussed in PartI,Item 2 – “Trustee’sDiscussion and Analysis of Financial Condition and Results of Operations – Overview,” in November2017 Greylock Energy, LLC,and certain of its wholly owned subsidiaries acquired substantially all of the gas production and midstream assets of EnergyCorporation of America, including all of the interests of Legacy ECA (as defined below) in certain natural gas properties that aresubject to the royalty interests held by ECA Marcellus Trust I (the “Acquisition”). References to “Greylock Energy” in this documentrefer to Greylock Energy, LLC and certain of its wholly-owned subsidiaries, including Greylock Production, LLC (“GreylockProduction”), which serves as operator of the subject wells, and Greylock Midstream, LLC (“Greylock Midstream”), whosesubsidiaries market and gather certain of the gas. References to “Legacy ECA” in this document refer to Energy Corporation of PART I-FINANCIAL INFORMATION ECA Marcellus Trust IStatements of Assets, Liabilities, and Trust Corpus ECA MARCELLUS TRUST INOTES TO FINANCIAL STATEMENTS NOTE 1. Organization of the Trust ECA Marcellus Trust I is a Delaware statutory trust formed in March2010 by Energy Corporation of America (“LegacyECA”) to own royalty interests in 14 producing horizontal natural gas wells producing from the Marcellus Shale formation, all ofwhich are online and are located in Greene County, Pennsylvania (the “Producing Wells”), and royalty interests in 52 horizontalnatural gas development wells subsequently drilled to the Marcellus Shale formation (the “PUD Wells”) within the “Area of MutualInterest”, or “AMI”, comprising approximately 9,300 acres held by Legacy ECA, of which it owned substantially all of the workinginterests, in Greene County, Pennsylvania. The effective date of the Trust was April1, 2010; consequently, the Trust received theproceeds of production attributable to the PDP Royalty Interest (defined herein) from that date even though the PDP Royalty Interestwas not conveyed to the Trust until the closing of the initial public offering on July7, 2010. The total number of units the Trust isauthorized to issue is 17,605,000 units, all of which are now common units. The royalty interests were conveyed from Legacy ECA’s The royalty interest in the Producing Wells (the “PDP Royalty Interest”) entitles the Trust to receive 90% of the proceeds(exclusive of any production or development costs but after deducting post-production costs and any applicable taxes) from the sale ofproduction of natural gas attributable to the Sponsor’s initial interest in the Producing Wells. The royalty interest in the PUD Wells(the “PUD Royalty Interest” and collectively with the PDP Royalty Interest, the “Royalty Interests”) entitles the Trust to receive 50% The Trust’s cash receipts in respect of the Royalty Interests are determined after deducting post-production costs and anyapplicable taxes associated with the Perpetual Royalty Interests. The Trust’s cash available for distribution is reduced by Trustadministrative expenses. Post-pr