As of September 30, 2024, ECA Marcellus Trust I reported total assets of $13.6 million, a decrease from $14.8 million at the end of the previous fiscal year. Cash on hand remained relatively stable at $2.6 million, down slightly from $2.7 million. The trust's corpus also declined to $13.5 million from $14.2 million as of December 31, 2023. Distributions payable to unitholders saw a significant drop, falling to $85,484 from $524,350 in the prior period.

For the nine months ending September 30, 2024, the trust generated royalty income of $1.4 million, a decrease of $0.8 million compared to $2.2 million for the same period in 2023. This decline in revenue is attributed to lower realized prices and a decrease in production volumes. The income available for distribution prior to cash reserves also fell to $611,576 from $1.2 million year-over-year, leading to distributable income of $447,303, down from $862,034 in the previous year.

In the third quarter of 2024, royalty income was reported at $412,587, slightly lower than $449,893 in the same quarter of 2023. The average sales price for natural gas increased marginally to $0.88 per Mcf from $0.83 per Mcf year-over-year, while the average price before post-production costs rose to $1.53 per Mcf from $1.46 per Mcf. However, production volumes decreased by 13.7%, totaling 471 MMcf compared to 545 MMcf in the prior year.

General and administrative expenses decreased to $0.2 million for the third quarter of 2024, down from $0.3 million in the same period of 2023. For the nine-month period, these expenses also declined to $0.9 million from $1.1 million.

The trust's financial performance has been adversely affected by market conditions, including volatility in natural gas prices due to factors such as the COVID-19 pandemic and geopolitical tensions. The trust's gross proceeds from royalty interests for the three months ended September 30, 2024, were $0.4 million, totaling approximately $2.1 million for the four quarters ended September 30, 2024. The trust is at risk of termination if gross proceeds fall below $1.5 million over any four consecutive quarters.

The trust operates as a pass-through entity, with distributions made after deducting administrative expenses. The trust is set to begin liquidation on March 31, 2030, with half of its royalty interests reverting to Greylock Production, which operates the wells but does not manage the trust.