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Hunting PLC (HTG)

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Friday 15 March, 2019

Hunting PLC

Report on Payments to Govts

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.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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