REG - Hunting PLC - Report on Payments to Goverments 2017

HuntingAnnouncement

14/03/2018 12:00

RNS Number : 7238H
Hunting PLC
14 March 2018
For immediate release
14 March 2018
Hunting PLC
("Hunting" or the "Company" or the "Group")
Report on Payments to Governments
for the year ended 31 December 2017
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 2017 and in compliance with The Reports on Payments to Governments Regulations 2014 (SI 2014/3209).
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 2017 Payments
US$


Production entitlements
Nil
State Severance Taxes
89,635
State Income Taxes
Nil
Federal Income Taxes
Nil
Royalties
- Onshore
- Offshore
711
470,982
Dividends
Nil
Signature/discovery/production bonuses
Nil
Licence / rental fees
Nil
Infrastructure improvements
Nil


Total
561,328
The above summary consolidates payments made by Tenkay in relation to 52 operating oil and gas fields 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
4

-

6,663

6,663
Louisiana
7

(798)

31,897

31,099
Mississippi
1

-

38

38
Montana
2

1,509

5,458

6,967
North Dakota
2

-

1,860

1,860
Texas
28

-

42,692

42,692
New Mexico
1

-

218

218
Offshore
7

470,982

809

471,791









52

471,693

89,635

561,328
The full report, including a full field analysis, is available for download at www.huntingplc.com.


For further information please contact:
Hunting PLC
Ben Willey, Company Secretary
Tel: +44 (0) 20 7321 0123
Notes to Editors:
About HuntingPLC
HuntingPLCis an international energy services provider to the world's leadingupstreamoil 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 inHoustonand is headquartered inLondon. As well as theUnited Kingdom, the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Saudi Arabia, Singapore, United Arab Emiratesand theUnited States of America.
Hunting PLC's Legal Entity Identifier is 2138008S5FL78ITZRN66.

This information is provided by RNS
The company news service from the London Stock Exchange
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