REG - Hunting PLC - Report on Payments to Governments

HuntingAnnouncement

29/04/2021 12:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210429:nRSc0710Xa&default-theme=true

RNS Number : 0710X  Hunting PLC  29 April 2021

 For immediate release
                        29 April 2021

 

Hunting PLC

 

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

 

Report on Payments to Governments

for the year ended 31 December 2020

 

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 2020 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 2020 Payments

                                         US$

 Production entitlements                 Nil
 State Severance Taxes                   33,592
 State Income Taxes                      Nil
 Federal Income Taxes                    Nil
 Royalties

 -     Onshore                           445

 -     Offshore                          275,826
 Dividends                               Nil
 Signature/discovery/production bonuses  Nil
 Licence / rental fees                   Nil
 Infrastructure improvements             Nil

 Total                                   309,863

 

The above summary consolidates payments made by Tenkay in relation to 74
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                 Total Payments

                                                                                                 Severance Taxes
                                                   $                                             $                     $

 Arkansas     29                                   -                                             2,269

                                                                                                                       2,269
 Louisiana    9                                    -                                             6,658                 6,658
 Mississippi  1                                    -                                             38                    38
 Montana      3                                    445                                           1,856                 2,301
 Texas                       28                    -                                             22,670                22,670
 Offshore     4                                    275,826                                       101                   275,927

              74                                   276,271                                       33,592                309,863

 

This report is available for download at www.huntingplc.com
(http://www.huntingplc.com) .

 

For further information please contact:

 

 Hunting PLC                     Tel: +44 (0) 20 7321 0123

 Ben Willey, Company Secretary

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PGRFIFFASTIAFIL