Report on Payments to Govts

RNS Number : 5208L

Hunting PLC

30 April 2020

 

For immediate release

30 April 2020

Hunting PLC

("Hunting" or the "Company" or the "Group")

Report on Payments to Governments

for the year ended 31 December 2019

Hunting PLC (LSE : HTG) the international energy services group today provides information in accordance with DTR 4.3A in respect of payments made by the Company to governments for the year ended 31 December 2019 and in compliance with The Reports on Payments to Governments Regulations 2014 (SI 2014/3209) as amended by the Reports on Payments to Governments Regulations 2015 (2015/1928).

The following schedule details payments made to the US government by its wholly owned subsidiary Tenkay Resources, Inc ("Tenkay"). No other businesses within the Group are impacted by the above legislation and its reporting requirements. Further, due to the operational focus of Tenkay, the US government is the only relevant party to whom payments are made.

Reporting Category	Total 2019 Payments US$
Production entitlements	Nil
State Severance Taxes	64,894
State Income Taxes	Nil
Federal Income Taxes	Nil
Royalties -  Onshore -  Offshore	1,573 244,178
Dividends	Nil
Signature/discovery/production bonuses	Nil
Licence / rental fees	Nil
Infrastructure improvements	Nil
Total	310,645

The above summary consolidates payments made by Tenkay in relation to 90 operating oil and gas fields which have made payments to the US government in the year and in which the business had an interest during the reporting period. Tenkay's business model has been to hold small equity or working interests in oil and gas assets across the US.

Payment Analysis By State (excluding State Income Taxes)

State	No. of Fields		Net Royalties Paid Attributable to Tenkay		State Severance Taxes		Total Payments
			$		$		$
Arkansas	34		-		3,741		3,741
Louisiana	7		-		3,376		3,376
Mississippi	1		-		45		45
Montana	3		1,573		5,797		7,370
North Dakota	1		-		1,561		1,561
New Mexico	1		-		188		188
Texas	38		-		49,753		49,753
Offshore	5		244,178		433		244,611
	90		245,751		64,894		310,645

This report is available for download at www.huntingplc.com .

For further information please contact:

Hunting PLC Ben Willey, Company Secretary

Tel: [phone]

Notes to Editors:

About Hunting PLC

Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.

Hunting PLC's Legal Entity Identifier is 2138008S5FL78ITZRN66.

 

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