Hunting PLC Report on Payments to Governments (9281J)

TIDMHTG

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 
                                               198,969 
 
        *    Offshore 
 Dividends                                         Nil 
 Signature/discovery/production                    Nil 
  bonuses 
 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)

 
                                          Net Royalties 
                            No. of    Paid Attributable              State 
 State                      Fields            to Tenkay    Severance Taxes   Total Payments 
                                                      $                  $                $ 
--------------  ------------------  -------------------  -----------------  --------------- 
 
 
 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 .

For further information please contact:

 
Hunting PLC                     Tel: [phone] 
 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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April 29, 2022 11:00 ET (15:00 GMT)