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):
November 13, 2026
ECA MARCELLUS TRUST I
(Exact name of Registrant as specified in its charter)
|
Delaware
(State or other jurisdiction of
incorporation or organization) |
001-34800
(Commission File Number) |
27-6522024
(I.R.S. Employer Identification No.) |
The Bank of New York Mellon Trust Company, N.A.
811 Main Street, Floor 15
Houston, Texas |
77002 |
| (Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including
area code: (713) 483-6020
601 Travis, 16th Floor, Houston,
Texas 77002
(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):
| ¨ |
Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-(b)) |
| ¨ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of
the Act: None.
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of
the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
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.
Exhibit No.
| 99.1 | Press Release dated November 13, 2026. |
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., as Trustee |
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|
|
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By: |
/s/ Elaina C. Rodgers |
| |
Name: |
Elaina C. Rodgers |
| |
Title: |
Vice President |
Date: November 13, 2026
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
HOUSTON, Texas
November 13, 2026 — ECA MARCELLUS TRUST I (OTCID Basic Market: ECTM) announced today that the Trust’s distribution
for the quarter ended September 30, 2026, will be $0.021 per unit, which is expected to be distributed on or before November 30, 2026,
to holders of record as of the close of business on November 23, 2026.
Since the first
quarter of 2019, the Trustee has been gradually building a cash reserve for the payment of future known, anticipated or contingent expenses
or liabilities of the Trust by withholding cash reserve amounts from each quarterly distribution. In November 2021, the Trustee
notified Greylock Energy LLC that the Trustee had determined to increase the targeted cash reserve from the initially stated amount of
approximately $1.8 million, to approximately $3.8 million. From the first quarter of 2019 through the fourth quarter of 2022, the Trustee
withheld an amount from each distribution equal to the greater of $90,000 or 10% of the funds otherwise available for distribution each
quarter. Since achieving the initial target of $1.8 million in the quarter ended December 31, 2022, the Trustee has been withholding,
and currently plans to continue to withhold, $90,000 per quarter until a total of approximately $3.8 million in cash reserves is withheld. The
Trustee may increase or decrease the targeted amount at any time and may increase or decrease the rate at which it is withholding funds
to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by
the trust agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated
or contingent expenses or liabilities of the Trust eventually will be distributed to unitholders, together with interest earned on the
funds. The Trustee has elected to withhold approximately $90,000 this quarter.
The Trust was formed
to own royalty interests in natural gas properties now held by Greylock Energy LLC and certain of its wholly owned subsidiaries (“Greylock”)
in the Marcellus Shale formation in Greene County, Pennsylvania. The Trust is entitled to receive certain amounts of the proceeds attributable
to Greylock’s interest in the sale of production from the properties. As described in the Trust's 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 Trust's administrative expenses, among other factors. The amount of proceeds received or
expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the
volatility in commodity prices, which are subject to a variety of factors that are beyond the control of the Trust or Greylock. Low natural
gas prices will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders
and in certain periods could result in no distributions to unitholders.
Pursuant to Section 1446
of the Internal Revenue Code of 1986 (the “IRC”), withholding tax on income effectively connected to a United States trade
or business allocated to non-U.S. persons (“ECI”) should be made at the highest marginal rate. Under IRC Section 1441,
withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to non-U.S. persons should be made
at a 30% rate unless the rate is reduced by treaty. Nominees and brokers should withhold at the highest marginal rate on the distribution
made to non-U.S. persons. A non-U.S. holder’s gain on the sale of Trust units is treated as ECI to the extent such holder would
have had ECI if the Trust had sold all of its assets at fair market value on the date of the sale or exchange. A transferee of
units is also required to withhold 10% of the amount realized on the sale or exchange of units (generally, the purchase price) unless
the transferor certifies that it is not a nonresident alien individual or foreign corporation, or other exception is available. 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.
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 Greylock 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 Greylock 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 Trust's Annual Report on Form 10-K for the year ended December 31, 2025, and all of
its other filings with the Securities and Exchange Commission. The Trust's annual, quarterly and other filed reports are or will be available
over the Internet at the SEC's 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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Elaina Rodgers |
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elaina.c.rodgers@bny.com |
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811 Main St., Floor 15, Houston, TX 77002 |
