##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 Form 10-Q
 þ
    
    Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 For the quarterly period ended March 31, 2009
 or
 o
    
    Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 For
the transition period from ______ to  ______
 Commission
File Number: 1-11608
 WILLIAMS COAL SEAM GAS ROYALTY TRUST
  Delaware
    
    75-6437433(State or other jurisdiction
    
    (I.R.S. Employerof incorporation or
    
    Identification No.)organization)
 
 
 þ o
 o o
  Large accelerated filer oAccelerated filer þNon-accelerated filer o(Do not check if a smaller reporting company)Smaller reporting company o o þ




---



TABLE OF CONTENTS  PART I  FINANCIAL INFORMATIONItem 1. Financial Statements.Item 2. Trustees Discussion and Analysis of Financial Condition and Results of Operations.Item 3. Quantitative and Qualitative Disclosures About Market Risk.Item 4. Controls and Procedures.PART II  OTHER INFORMATIONItem 1. Legal Proceedings.Item 1A. Risk FactorsItems 2 through 5.Item 6. Exhibits.SIGNATURESEX-15.1EX-31.1EX-32.1    Table of Contents  
 PART I FINANCIAL INFORMATION
 
    2




---



##### Table of Contents



3




---



##### Table of Contents



WILLIAMS COAL SEAM GAS ROYALTY TRUST
 CONDENSED STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS (UNAUDITED)
 March 31,
    
    
    December 31,2009
    
    
    2008(Unaudited)ASSETSCurrent Assets  cash and cash equivalents
    
    $
    18,721
    
    
    $
    45,419Royalty interests in oil and gas properties
(less accumulated amortization
of $133,375,673 at
March 31, 2009 and
$132,988,670 at December 31,
2008) (Note 2)
    
    
    5,190,991
    
    
    
    5,577,994TOTAL ASSETS
    
    $
    5,209,712
    
    
    $
    5,623,413LIABILITIES AND TRUST CORPUSCurrent Liabilities:Accounts payable
    
    $
    86,477
    
    
    $
    31,193Trust corpus - 9,700,000 units of
beneficial interest authorized
and outstanding (Note 2)
    
    
    5,123,235
    
    
    
    5,592,220TOTAL LIABILITIES
AND TRUST CORPUS
    
    $
    5,209,712
    
    
    $
    5,623,413
  4




---



##### Table of Contents



WILLIAMS COAL SEAM GAS ROYALTY TRUST
 CONDENSED STATEMENTS OF DISTRIBUTABLE INCOME (UNAUDITED)
 THREE MONTHS
    
    
    THREE MONTHSENDED
    
    
    ENDEDMarch 31, 2009
    
    
    March 31, 2008Royalty income (Notes 2, 4 and 7)
    
    $
    1,393,653
    
    
    $
    2,034,650Interest income
    
    
    619
    
    
    
    4,476Total
    
    
    1,394,272
    
    
    
    2,039,126General and administrative
expenses (Note 4)
    
    
    (372,288
    )
    
    
    (299,715
    )Distributable income
    
    $
    1,021,984
    
    
    $
    1,739,411Distributable income per unit
(9,700,000 units) (Note 2)
    
    $
    .11
    
    
    $
    .18
  5




---



##### Table of Contents



WILLIAMS COAL SEAM GAS ROYALTY TRUST
 CONDENSED STATEMENTS OF CHANGES IN TRUST CORPUS (UNAUDITED)
 THREE MONTHS
    
    
    THREE MONTHSENDED
    
    
    ENDEDMarch 31, 2009
    
    
    March 31, 2008Trust corpus, beginning of period
    
    $
    5,592,220
    
    
    $
    6,877,977Amortization of royalty interests (Note 2)
    
    
    (387,003
    )
    
    
    (307,675
    )Distributable income
    
    
    1,021,984
    
    
    
    1,739,411Distributions to Unitholders (Note 5)
    
    
    (1,103,966
    )
    
    
    (1,742,197
    )Trust corpus, end of period
    
    $
    5,123,235
    
    
    $
    6,567,516Distributions per unit
(9,700,000 units) (Note 5)
    
    $
    .11
    
    
    $
    .18
  6




---



##### Table of Contents



WILLIAMS COAL SEAM GAS ROYALTY TRUST
 NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
 1. TRUST ORGANIZATION AND PROVISIONS
    7




---



##### Table of Contents



8




---



##### Table of Contents



2. BASIS OF ACCOUNTING
    9




---



##### Table of Contents




    
    Revenues are recognized in the period in which amounts are received by the
Trust. General and administrative expenses are recognized on an accrual basis.
    
    Amortization of the Royalty Interests is calculated on a unit-of-production
basis and charged directly to trust corpus.
    
    Distributions to Unitholders are recorded when declared by the Trustee (See
Note 5).
    
    Loss contingencies are recognized in the period in which amounts are paid by
the Trust.
  Modernization of Oil and Gas Reporting
 3. FEDERAL INCOME TAXES
  10




---



##### Table of Contents



4. RELATED PARTY TRANSACTIONS
   11




---



##### Table of Contents



5. DISTRIBUTIONS TO UNITHOLDERS
    12




---



##### Table of Contents



6. SUBSEQUENT EVENTS
  QuarterlyRecord
    
    Payment
    
    DistributionDate
    
    Date
    
    per UnitMay
15, 2009
    
    May 29, 2009
    
    $.065169
  7. CONTINGENCIES
     13




---



##### Table of Contents



14




---



##### Table of Contents



Three Months Ended March 31, 2009 Compared to Three Months Ended March 31, 2008
      15




---



##### Table of Contents



Three Months
    
    
    Three MonthsEnded
    
    
    EndedDecember 31, 2008
    
    
    December 31, 2007Production (MMBtu) (1)WI Properties
    
    
    743,506
    (2)
    
    
    1,152,481
    (3)Farmout Properties
    
    
    240,682
    
    
    
    288,197Infill
Properties
    
    
    324,040
    (5)
    
    
    -0-Blanco Hub Spot Price ($/MMBtu) (4)
    
    $
    3.91
    
    
    $
    5.89Net Wellhead Price WI Properties
($/MMBtu)
    
    $
    1.69
    
    
    $
    2.56
 
 (1)
    
    Million British Thermal Units.(2)
    
    Includes retroactive adjustments of (42,364) MMBtu.(3)
    
    Includes retroactive adjustments of (75,500) MMBtu.(4)
    
    Weighted average of estimates for the months included in the period presented.(5)
    
    Includes retroactive adjustments of 127,022 MMBtu.   16




---



##### Table of Contents



Termination and Liquidation of the Trust
   17




---



##### Table of Contents



18




---



##### Table of Contents



Pending Securities and Exchange Commission Rule
 Modernization of Oil and Gas Reporting
 19




---



##### Table of Contents



Forward-Looking Statements
  
   See Funds held by the Trustee are not insured by the Federal Deposit
Insurance Corporation, and future royalty income may be subject to risks relating to the
creditworthiness of third parties
 20




---



##### Table of Contents



21




---



##### Table of Contents



PART II  OTHER INFORMATION
 
   
   Funds held by the Trustee are not insured by the Federal Deposit Insurance Corporation, and future
royalty income may be subject to risks relating to the creditworthiness of third parties.
  
   
   EXHIBIT NUMBER
    
    EXHIBIT4.1 
    
    Trust Agreement of Williams Coal Seam Gas Royalty Trust
effective as of December 1, 1992, by and among Williams
Production Company, The Williams Companies, Inc. and
Chemical Bank Delaware and Bank of America, N.A. (as
successor to NationsBank of Texas, N.A.), as trustees
(filed as Exhibit 4.1 to the Registrants Form 10-K for the
year ended December 31, 1992 and incorporated herein by
reference).4.2 
    
    First Amendment to the Trust Agreement of Williams Coal
Seam Gas Royalty Trust effective as of December 15, 1992,
by and among Williams Production Company, The Williams
Companies, Inc., Chemical Bank Delaware and Bank of
America, N.A. (as successor to NationsBank of Texas, N.A.)
(filed as Exhibit 4.2 to the Registrants Form 10-K for the
year ended December 31, 1992 and incorporated herein by
reference).
 22




---



##### Table of Contents



EXHIBIT NUMBER
    
    EXHIBIT4.3 
    
    Second Amendment to the Trust Agreement of Williams Coal
Seam Gas Royalty Trust effective as of January 12, 1993, by
and among Williams Production Company, The Williams
Companies, Inc., Chemical Bank Delaware and Bank of
America, N.A. (as successor to NationsBank of Texas, N.A.)
(filed as Exhibit 4.3 to the Registrants Form 10-K for the
year ended December 31, 1992 and incorporated herein by
reference).4.4 
    
    Net Profits Conveyance effective as of October 1, 1992, by
and among Williams Production Company, The Williams
Companies, Inc., and Bank of America, N.A. (as successor to
NationsBank of Texas, N.A.), and Chemical Bank Delaware
(filed as Exhibit 4.4 to the Registrants Form 10-K for the
year ended December 31, 1992 and incorporated herein by
reference).15.1 
    
    Letter regarding unaudited interim financial information
dated May 7, 2009, from the independent Registered
Public Accounting Firm which acknowledges awareness of the
use in registration statement of a report on unaudited
interim financial information.31.1 
    
    Certification by Ron E. Hooper, Senior Vice President and
Administrator of Bank of America, Trustee of Williams Coal
Seam Gas Royalty Trust, dated May 8, 2009, and
submitted pursuant to Rule 13a-14(a)/15d-14(a) and pursuant
to Section 302 of the Sarbanes-Oxley Act of 2002.32.1 
    
    Certificate by Bank of America, Trustee of Williams Coal
Seam Gas Royalty Trust, dated May 8, 2009, and
submitted pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002 (18 U.S.C. Section 1350).
 23




---



##### Table of Contents



SIGNATURES
  WILLIAMS COAL SEAM GAS ROYALTY TRUST
By: BANK OF AMERICA, N.A., TrusteeBy:
    /s/ RON E. HOOPERRon E. HooperSenior Vice President and Administrator   24




---



##### Table of Contents



INDEX TO EXHIBITS
 EXHIBIT NUMBER
    
    EXHIBIT4.1 
    
    Trust Agreement of Williams Coal Seam Gas Royalty Trust
effective as of December 1, 1992, by and among Williams
Production Company, The Williams Companies, Inc. and
Chemical Bank Delaware and Bank of America, N.A. (as
successor to NationsBank of Texas, N.A.), as trustees
(filed as Exhibit 4.1 to the Registrants Form 10-K for the
year ended December 31, 1992 and incorporated herein by
reference).4.2 
    
    First Amendment to the Trust Agreement of Williams Coal
Seam Gas Royalty Trust effective as of December 15, 1992,
by and among Williams Production Company, The Williams
Companies, Inc., Chemical Bank Delaware and Bank of
America, N.A. (as successor to NationsBank of Texas, N.A.)
(filed as Exhibit 4.2 to the Registrants Form 10-K for the
year ended December 31, 1992 and incorporated herein by
reference).4.3 
    
    Second Amendment to the Trust Agreement of Williams Coal
Seam Gas Royalty Trust effective as of January 12, 1993, by
and among Williams Production Company, The Williams
Companies, Inc., Chemical Bank Delaware and Bank of
America, N.A. (as successor to NationsBank of Texas, N.A.)
(filed as Exhibit 4.3 to the Registrants Form 10-K for the
year ended December 31, 1992 and incorporated herein by
reference).4.4 
    
    Net Profits Conveyance effective as of October 1, 1992, by
and among Williams Production Company, The Williams
Companies, Inc., and Bank of America, N.A. (as successor to
NationsBank of Texas, N.A.), and Chemical Bank Delaware
(filed as Exhibit 4.4 to the Registrants Form 10-K for the
year ended December 31, 1992 and incorporated herein by
reference).15.1 
    
    Letter regarding unaudited interim financial information
dated May 7, 2009, from the independent Registered
Public Accounting Firm which acknowledges awareness of the
use in registration statement of a report on unaudited
interim financial information.31.1 
    
    Certification by Ron E. Hooper, Senior Vice President and
Administrator of Bank of America, Trustee of Williams Coal
Seam Gas Royalty Trust, dated May 8, 2009, and
submitted pursuant to Rule 13a-14(a)/15d-14(a) and pursuant
to Section 302 of the Sarbanes-Oxley Act of 2002.32.1 
    
    Certificate by Bank of America, Trustee of Williams Coal
Seam Gas Royalty Trust, dated May 8, 2009, and
submitted pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002 (18 U.S.C. Section 1350).
 25