Hunting PLC Report on Payments to Govts (9535W)

TIDMHTG

RNS Number : 9535W

Hunting PLC

20 April 2023

 
 For immediate release                                                  20 April 2023 
 

Hunting PLC

("Hunting" or the "Company" or the "Group")

Report on Payments to Governments

for the year ended 31 December 2022

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 2022 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 2022 Payments 
                                                   US$ 
--------------------------------  -------------------- 
 
 Production entitlements                           Nil 
 State Severance Taxes                          49,374 
 State Income Taxes                                Nil 
 Federal Income Taxes                              Nil 
      Royalties 
        *    Onshore                             2,410 
                                               824,180 
 
        *    Offshore 
 Dividends                                         Nil 
 Signature/discovery/production                    Nil 
  bonuses 
 Licence / rental fees                             Nil 
 Infrastructure improvements                       Nil 
 
 Total                                         875,964 
--------------------------------  -------------------- 
 

The above summary consolidates payments made by Tenkay in relation to 11 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 
                                           $                  $                $ 
-------------  --------  -------------------  -----------------  --------------- 
 
 
   Louisiana          1                    -             17,223           17,223 
 Montana              1                2,410              6,393            8,803 
 North 
  Dakota              1                    -              3,796            3,796 
        Texas         6                    -             31,667           31,667 
 Offshore             2              824,180            (9,705)          814,475 
 
                     11              826,590             49,374          875,964 
               ========  ===================  =================  =============== 
 

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 20, 2023 09:36 ET (13:36 GMT)