REG - Hunting PLC - Report on Payments to Governments <Origin Href="QuoteRef">HTG.L</Origin>

HuntingAnnouncement

08/05/2017 14:35

RNS Number : 4939E
Hunting PLC
08 May 2017
For immediate release
8May 2017
Hunting PLC
("Hunting" or the "Company" or the "Group")
Report on Payments to Governments 
for the year ended 31 December 2016
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 2016 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 2016 Payments
US$


Production entitlements
Nil
State Severance Taxes 
100,491
State Income Taxes
100
Federal Income Taxes
Nil
Royalties
- Onshore
- Offshore
13,565
426,720
Dividends
Nil
Signature/discovery/production bonuses
Nil
Licence / rental fees
Nil
Infrastructure improvements
Nil


Total
540,876
The above summary consolidates payments made by Tenkay in relation to 50 operating oil and gas fields to 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

-

4,190

4,190
Louisiana
8

12,406

70,396

82,802
Mississippi
1

-

37

37
Montana
2

1,159

4,200

5,359
North Dakota
2

-

1,747

1,747
Texas
26

-

17,888

17,888
Offshore
7

426,720

2,033

428,753









50

440,285

100,491

540,776
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,South Africa, 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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