REG - Hunting PLC - Report on Payments to Governments

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29/04/2022 16:00

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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                           2,073

 -     Offshore                          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                 Total Payments

                                                                                                                               Severance Taxes
                                                                                 $                                             $                     $

 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
(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.

 

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