Hunting PLC Report on Payments to Govts (9535W)
20 April 2023 - 11:36PM
UK Regulatory
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: +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.
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