UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 7, 2012
ECA MARCELLUS TRUST I
(Exact name of Registrant as specified in its charter)
Delaware |
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001-34800 |
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27-6522024 |
(State or other jurisdiction of |
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(Commission |
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(I.R.S. Employer |
incorporation or organization) |
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File Number) |
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Identification No.) |
The Bank of New York Mellon Trust Company, N.A.
919 Congress Avenue
Austin, Texas 78701
(Address of principal executive offices)
Registrants Telephone Number, including area code: (800) 852-1422
Not applicable
(Former name, former address and former fiscal year,
if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.02. Results of Operations and Financial Condition.
Attached as Exhibit 99.1 is a press release issued on behalf of the Registrant. The information furnished is not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
ITEM 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release dated May 7, 2012.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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ECA Marcellus Trust I | ||
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By: |
The Bank of New York Mellon Trust Company, N.A., | |
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as Trustee | |
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By: |
/s/ Sarah Newell | |
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Name: |
Sarah Newell | |
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Title: |
Senior Associate | |
Date: May 7, 2012
Exhibit Index
Exhibit Number |
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Description |
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99.1 |
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Press Release dated May 7, 2012. |
Exhibit 99.1
ECA Marcellus Trust I
ECA Marcellus Trust I Announces Quarterly Distribution
ECA Marcellus Trust I
The Bank of New York Mellon Trust Company, N.A., Trustee
News
Release
For Immediate Release
AUSTIN, Texas May 7, 2012 ECA MARCELLUS TRUST I (NYSE: ECT) announced today that the Trusts distribution for the quarter ended March 31, 2012 will be $.574 per common unit, which is expected to be distributed on or before May 31, 2012 to holders of record as of the close of business on May 21, 2012. The Trusts quarterly income available for distribution was $.522 which was $.052 below the subordination threshold. As a result, the distribution per common unit is the subordination threshold amount of $.574 for the quarter.
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 ECAs interest in the sale of production from the properties. As described in the Trusts 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 Trusts administrative expenses, among other factors.
Energy Corporation of America, the sponsor of the ECA Marcellus Trust I announced that it will host a conference call on May 8th at 1:00 pm EDT. The call information is 1-866-356-4123 (domestic) or 1-617-597-5393 (international) the participant code for both numbers is 39243737. The call may also be accessed via the internet at http://www.media-server.com/m/p/hjfzgj6c. A replay of the call can be accessed from May 8, 2012 (3:00 PM, ET) through May 15, 2012 (11:59 AM, ET) by calling 1-888-286-8010 (domestic) or 1-617-801-6888 (international) the participant code for both replay lines is 10840454.
Pursuant to IRC Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to foreign partners should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to foreign partners should be made at 30% of gross income unless the rate is reduced by treaty. This release is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) by ECA Marcellus Trust I, and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. Nominees and brokers should withhold 35% of the distribution made to foreign partners.
This press release contains statements that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are forward-looking statements for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unit holders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from ECA with respect to the relevant quarterly period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither ECA nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Common Units issued by ECA Marcellus Trust I is subject to the risks
described in the Trusts Annual Report on Form 10-K for the year ended December 31, 2011, and all of its other filings with the Securities and Exchange Commission. The Trusts annual, quarterly and other filed reports are or will be available over the Internet at the SECs web site at http://www.sec.gov.
Contact: |
ECA Marcellus Trust I |
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The Bank of New York Mellon Trust Company, N.A., as Trustee |
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Mike Ulrich |
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1(800) 852-1422 |
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919 Congress Avenue Austin, TX 78701 |