13 July 2010capital raising announcement▲ GoodMajor
The Trust's formation closed: ECA conveyed perpetual overriding royalty interests in its Marcellus Shale gas properties to the Trust (plus similar interests from private ECA investors and subsidiary Eastern Marketing Corp.), alongside an Administrative Services Agreement ($60,000/year to ECA), a Development Agreement committing ECA to drill specified wells, and a Swap Agreement hedging gas prices on Trust production through March 2014 - the package of agreements that gives the Trust's units their underlying value.