| For immediate release | 29 April 2021 |
Hunting PLC
("Hunting" or the "Company" or the "Group")
Report on Payments to Governments
for the year ended 31 December 2020
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 2020 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 2020 Payments US$ |
|
|
|
| Production entitlements | Nil |
| State Severance Taxes | 33,592 |
| State Income Taxes | Nil |
| Federal Income Taxes | Nil |
| Royalties - Onshore - Offshore |
445 275,826 |
| Dividends | Nil |
| Signature/discovery/production bonuses | Nil |
| Licence / rental fees | Nil |
| Infrastructure improvements | Nil |
|
|
|
| Total | 309,863 |
The above summary consolidates payments made by Tenkay in relation to 74 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 | 29 |
| - |
| 2,269 |
|
2,269 |
| Louisiana | 9 |
| - |
| 6,658 |
| 6,658 |
| Mississippi | 1 |
| - |
| 38 |
| 38 |
| Montana | 3 |
| 445 |
| 1,856 |
| 2,301 |
| Texas | 28 |
| - |
| 22,670 |
| 22,670 |
| Offshore | 4 |
| 275,826 |
| 101 |
| 275,927 |
|
|
|
|
|
|
|
|
|
|
| 74 |
| 276,271 |
| 33,592 |
| 309,863 |
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
