REG - Hunting PLC - Report on Payments to Govts

HuntingAnnouncement

30/04/2020 16:30

RNS Number : 5208L
  
Hunting PLC
  
30 April 2020
  
 




For immediate release


30 April 2020



 
Hunting PLC
 
("Hunting" or the "Company" or the "Group")
 
Report on Payments to Governments 
for the year ended 31 December 2019
 
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 2019 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 2019 Payments
US$














Production entitlements


Nil




State Severance Taxes 


64,894




State Income Taxes


Nil




Federal Income Taxes


Nil




Royalties
-     Onshore
-     Offshore


 
1,573
244,178




Dividends


Nil




Signature/discovery/production bonuses


Nil




Licence / rental fees


Nil




Infrastructure improvements


Nil














Total


310,645



 
The above summary consolidates payments made by Tenkay in relation to 90 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
Severance Taxes


Total Payments
















$






$






$






































Arkansas


34






-






3,741






 
3,741




Louisiana


7






-






3,376






3,376




Mississippi


1






-






45






45




Montana


3






1,573






5,797






7,370




North Dakota


1






-






1,561






1,561




New Mexico


1






-






188






188




Texas


38






-






49,753






49,753




Offshore


5






244,178






433






244,611










































90






245,751






64,894






310,645



 
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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