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ECA Marcellus Trust I Gives Investors Half-Cent Dividend for 3Q24

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced Wednesday that it will issue a half-cent dividend to unitholders for the third quarter of 2024. The company paid no dividend in 2Q24. The company continues to hold back some profits ($90,000 in 3Q24) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.” Read More “ECA Marcellus Trust I Gives Investors Half-Cent Dividend for 3Q24”

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PA AG “Convicts” Greylock Energy, Extracts $140,000 for Big Green

In early 2018, the Pennsylvania Dept. of Environmental Protection (DEP) collected a whopping $1.7 million fine from Energy Corporation of America (ECA) for violations at 17 well sites in Cumberland, Jefferson, and Whiteley Townships in Greene County, and Goshen Township in Clearfield County (see Energy Corp of America Fined $1.7M for Drilling Violations in PA). ECA’s violations? “Failure to properly contain fluids in onsite pits, unauthorized discharge of industrial waste into groundwater, unauthorized disposal of residual waste, failure to restore the pits and well sites, and operating solid waste storage, treatment, and transfer facilities without permits.” More than four years later, then-PA Attorney General Josh Shapiro (running for governor with a need to keep his radical base stoked) indicted ECA and Greylock Energy (which purchased ECA’s assets in 2017) with so-called environmental crimes for the same long-resolved issue (see PA AG Shapiro Charges ECA/Greylock with Environmental Crimes). There’s been a new development.

NOTE: This post has been updated with a statement by Greylock. See below.
Read More “PA AG “Convicts” Greylock Energy, Extracts $140,000 for Big Green”

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ECA Marcellus Trust I Gives Investors NO Dividend for 2Q24

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced yesterday that it will not issue a dividend to unitholders for the second quarter of 2024. The company paid 4.3 cents per unit in 1Q23, nothing in 2Q23, six-tenths of a penny ($0.006) in 3Q23, 3.0 cents in 4Q23, and most recently, 2.1 cents per unit for 1Q24. The company continues to hold back some profits ($90,000 in 2Q24) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.” Read More “ECA Marcellus Trust I Gives Investors NO Dividend for 2Q24”

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ECA Marcellus Trust I Gives Investors 2.1-Cent Dividend 1Q24

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a 2.1-cents ($0.021) dividend to unitholders for 1Q24. The company paid 4.3 cents per unit in 1Q23, nothing in 2Q23, six-tenths of a penny ($0.006) in 3Q23, and 3.0 cents per unit in 4Q23. The company continues to hold back some profits ($90,000 in 1Q24) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.”
Read More “ECA Marcellus Trust I Gives Investors 2.1-Cent Dividend 1Q24”

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ECA Marcellus Trust I Gives Investors 3-Cent Dividend 4Q23

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a three-cent ($0.03) dividend to unitholders for 4Q23. The company paid 4.3 cents per unit in 1Q23, nothing in 2Q23, and six-tenths of a penny ($0.006) in 3Q23 (see ECA Marcellus Trust I Gives Investors Half a Penny Dividend 3Q). The company continues to hold back some profits ($90,000 in 4Q23) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.”
Read More “ECA Marcellus Trust I Gives Investors 3-Cent Dividend 4Q23”

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ECA Marcellus Trust I Gives Investors Half a Penny Dividend 3Q

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue six-tenths of a penny ($0.006) dividend to unitholders for 3Q23. The company paid out 4.3 cents per unit in 1Q23 and nothing in 2Q23 (see ECA Marcellus Trust I Gives Investors No Dividends in 2Q23). The company continues to hold back some profits ($90,000 in 3Q23) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.”
Read More “ECA Marcellus Trust I Gives Investors Half a Penny Dividend 3Q”

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ECA Marcellus Trust I Gives Investors No Dividends in 2Q23

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue no payout to unitholders for 2Q23. The company paid out 4.3 cents per unit in 1Q23; 12.4 cents per unit in 4Q22; and 18 cents per unit in 3Q22. The company continues to hold back some profits ($90,000 in 2Q23) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.” Consequently, ECA will not pay anything to unitholders for 2Q.
Read More “ECA Marcellus Trust I Gives Investors No Dividends in 2Q23”

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ECA Marcellus Trust I Gives Investors 4.3 Cents per Unit in 1Q23

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a payout (the equivalent of a dividend) to unitholders of 4.3 cents per unit for 1Q23. That is down from 4Q22 when the Trust paid out 12.4 cents per unit, and down from 3Q22 when the Trust paid out 18 cents per unit. The company continues to hold back some profits ($90,000 in 1Q23) in order to build a cash reserve.
Read More “ECA Marcellus Trust I Gives Investors 4.3 Cents per Unit in 1Q23”

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ECA Marcellus Trust I Gives Investors 12.4 Cents per Unit in 4Q22

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a payout (the equivalent of a dividend) to unitholders of 12.4 cents for 4Q22. That is down from the previous quarter when the Trust paid out 18 cents per unit. The company continues to hold back some profits ($135,000 in 4Q22) in order to build a cash reserve.
Read More “ECA Marcellus Trust I Gives Investors 12.4 Cents per Unit in 4Q22”

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ECA Marcellus Trust I Gives Investors 18 Cents per Unit in 3Q22

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it will issue a payout (the equivalent of a dividend) to unitholders of 18 cents for 3Q22. That is the highest payout we’ve seen since we’ve been actively tracing it quarter by quarter. The company continues to hold back some profits ($90,000 in 3Q22) in order to build a cash reserve.
Read More “ECA Marcellus Trust I Gives Investors 18 Cents per Unit in 3Q22”

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ECA Marcellus Trust I Gives Investors 17.6 Cents per Unit in 2Q22

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it will issue a payout (the equivalent of a dividend) to unitholders of 17.6 cents for 2Q22. That is the highest payout we’ve seen since we’ve been actively tracing it quarter by quarter. The company continues to hold back some of the profits it makes to build a $3.8 million cash reserve.
Read More “ECA Marcellus Trust I Gives Investors 17.6 Cents per Unit in 2Q22”

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PA AG Shapiro Charges ECA/Greylock with Environmental Crimes

In early 2018, the Pennsylvania Dept. of Environmental Protection (DEP) collected a whopping $1.7 million fine from Energy Corporation of America (ECA) for violations at 17 well sites in Cumberland, Jefferson, and Whiteley Townships in Greene County, and Goshen Township in Clearfield County (see Energy Corp of America Fined $1.7M for Drilling Violations in PA). ECA’s violations? “Failure to properly contains fluids in onsite pits, unauthorized discharge of industrial waste into groundwater, unauthorized disposal of residual waste, failure to restore the pits and well sites, and operating solid waste storage, treatment, and transfer facilities without permits.” Now, more than four years later, PA Attorney General Josh Shapiro (running for governor with a need to keep his radical base stoked) has indicted ECA and Greylock Energy (which purchased ECA’s assets in 2017) with so-called environmental crimes for the same long-resolved issue. Greylock “strongly disputes” the way Shapiro is characterizing the company and its role in this matter.
Read More “PA AG Shapiro Charges ECA/Greylock with Environmental Crimes”

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ECA Marcellus Trust I Gives Investors 9.4 Cents per Unit in 1Q22

ECA Marcellus Trust I, the royalty interest holder in and another name for Greylock Energy, has just moved the goalposts. After issuing a payout (the equivalent of a dividend) to unitholders of 13.6 cents for 4Q21, the company has pulled back and will only issue a payout of 9.4 cents per unit for 1Q22. Why? The company announced it is building a bigger emergency fund than previously announced.
Read More “ECA Marcellus Trust I Gives Investors 9.4 Cents per Unit in 1Q22”

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ECA Marcellus Trust I Gives Investors 13.6 Cents per Unit in 4Q21

ECA Marcellus Trust I, traded over-the-counter on the pink sheets, canceled distributions (dividends) to investors for the first three quarters of 2020 due to the pandemic and the crash in oil and gas prices. The company restarted paying dividends in 4Q20–a grand total of 9/10ths of one penny per unit. In 1Q21 ECA increased its distribution to 3.1 cents per unit. In 2Q21, ECA decreased the payout again, down to 2.8 cents per unit. In 3Q21 ECA hiked the quarterly dividend all the way to 7.6 cents per unit. The company announced yesterday for 4Q21 it will nearly double the payout to 13.6 cents per unit.
Read More “ECA Marcellus Trust I Gives Investors 13.6 Cents per Unit in 4Q21”

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ECA Marcellus Trust I Gives Investors 7.6 Cents per Unit in 3Q21

ECA Marcellus Trust I, traded over-the-counter on the pink sheets, canceled distributions (dividends) to investors for the first three quarters of 2020 due to the pandemic and the crash in oil and gas prices. The company restarted paying dividends in 4Q20–a grand total of 9/10ths of one penny per unit (see ECA Marcellus Trust I Gives Investors <1 Penny per Unit in 4Q20). In 1Q21 ECA increased its distribution to 3.1 cents per unit (see ECA Marcellus Trust I Gives Investors 3.1 Cents per Unit in 1Q21). In 2Q21, ECA decreased the payout again, down to 2.8 cents per unit (see ECA Marcellus Trust I Gives Investors 2.8 Cents per Unit in 2Q21). However, in 3Q21 ECA hiked the quarterly dividend all the way to 7.6 cents per unit!
Read More “ECA Marcellus Trust I Gives Investors 7.6 Cents per Unit in 3Q21”

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ECA Marcellus Trust I Gives Investors 2.8 Cents per Unit in 2Q21

ECA Marcellus Trust I, traded over-the-counter on the pink sheets, canceled distributions (dividends) to investors for the first three quarters of 2020 due to the pandemic and the crash in oil and gas prices. The company restarted paying dividends in 4Q20–a grand total of 9/10ths of one penny per unit (see ECA Marcellus Trust I Gives Investors <1 Penny per Unit in 4Q20). In 1Q21 ECA increased its distribution to 3.1 cents per unit (see ECA Marcellus Trust I Gives Investors 3.1 Cents per Unit in 1Q21). Last quarter, 2Q21, ECA decreased the payout again, down to 2.8 cents per unit.
Read More “ECA Marcellus Trust I Gives Investors 2.8 Cents per Unit in 2Q21”