Hunting PLC Report on Payments to Goverments 2017 (7238H)
14 March 2018 - 10:59PM
UK Regulatory
TIDMHTG
RNS Number : 7238H
Hunting PLC
14 March 2018
For immediate release 14 March 2018
Hunting PLC
("Hunting" or the "Company" or the "Group")
Report on Payments to Governments
for the year ended 31 December 2017
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 2017 and in compliance with The Reports on Payments to
Governments Regulations 2014 (SI 2014/3209).
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 2017 Payments
US$
-------------------------------- --------------------
Production entitlements Nil
State Severance Taxes 89,635
State Income Taxes Nil
Federal Income Taxes Nil
Royalties
* Onshore 711
470,982
* Offshore
Dividends Nil
Signature/discovery/production Nil
bonuses
Licence / rental fees Nil
Infrastructure improvements Nil
Total 561,328
-------------------------------- --------------------
The above summary consolidates payments made by Tenkay in
relation to 52 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)
Net Royalties
Paid
Attributable State
No. of to Severance
State Fields Tenkay Taxes Total Payments
$ $ $
------------- -------- -------------- -------------- ---------------
Arkansas 4 - 6,663 6,663
Louisiana 7 (798) 31,897 31,099
Mississippi 1 - 38 38
Montana 2 1,509 5,458 6,967
North
Dakota 2 - 1,860 1,860
Texas 28 - 42,692 42,692
New Mexico 1 - 218 218
Offshore 7 470,982 809 471,791
52 471,693 89,635 561,328
======== ============== ============== ===============
The full report, including a full field analysis, is available
for download at www.huntingplc.com.
For further information please contact:
Hunting PLC Tel: +44 (0) 20 7321 0123
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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