REG - Hunting PLC - Report on Payments to Govts

HuntingAnnouncement

15/03/2019 15:00

RNS Number : 9342S
Hunting PLC
15 March 2019
 






For immediate release


15 March 2019




 
Hunting PLC
 
("Hunting" or the "Company" or the "Group")
 
Report on Payments to Governments
for the year ended 31 December 2018
 
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 2018 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 2018 Payments
US$




 


 




Production entitlements


Nil




State Severance Taxes


93,176




State Income Taxes


Nil




Federal Income Taxes


Nil




Royalties
-     Onshore
-     Offshore


 
2,124
267,839




Dividends


Nil




Signature/discovery/production bonuses


Nil




Licence / rental fees


Nil




Infrastructure improvements


Nil




 


 




Total


363,139




 
The above summary consolidates payments made by Tenkay in relation to 50 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


 


-


 


5,648


 


5,648




Louisiana


7


 


275


 


21,701


 


21,976




Mississippi


1


 


-


 


55


 


55




Montana


2


 


1,849


 


6,669


 


8,518




North Dakota


2


 


-


 


1,994


 


1,994




Texas


27


 


-


 


56,529


 


56,529




New Mexico


1


 


-


 


13


 


13




Offshore


6


 


267,839


 


567


 


268,406




 


 


 


 


 


 


 


 




 


50


 


269,963


 


93,176


 


363,139




 
This report 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 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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END
 
 
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