Source - LSE Regulatory
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

-     Offshore

 

2,073

198,969

Dividends

Nil

Signature/discovery/production bonuses

Nil

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)

 

State

No. of Fields


Net Royalties Paid Attributable to Tenkay

State

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

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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