Report on Payments to Governments

RNS Number : 9281J

Hunting PLC

29 April 2022

 

For immediate release

29 April 2022

Hunting PLC

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

Report on Payments to Governments

for the year ended 31 December 2021

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 2021 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 2021 Payments US$
Production entitlements	Nil
State Severance Taxes	43,974
State Income Taxes	Nil
Federal Income Taxes	Nil
Royalties -  Onshore -  Offshore	2,073 198,969
Dividends	Nil
Signature/discovery/production bonuses	Nil
Licence / rental fees	Nil
Infrastructure improvements	Nil
Total	245,016

The above summary consolidates payments made by Tenkay in relation to 15 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	1		-		4		4
Louisiana	1		-		7,829		7,829
Montana	1		2,073		5,871		7,944
North Dakota	1		-		1,117		1,117
Texas	7		-		23,339		23,339
Offshore	4		198,969		5,814		204,783
	15		201,042		43,974		245,016

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.

 

END

 

 

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