RNS Number : 4939E
Hunting PLC
08 May 2017
 

For immediate release

8 May 2017

 

Hunting PLC

 

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

 

Report on Payments to Governments

for the year ended 31 December 2016

 

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 2016 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 2016 Payments

US$



Production entitlements

Nil

State Severance Taxes

100,491

State Income Taxes

100

Federal Income Taxes

Nil

Royalties

-     Onshore

-     Offshore

 

13,565

426,720

Dividends

Nil

Signature/discovery/production bonuses

Nil

Licence / rental fees

Nil

Infrastructure improvements

Nil



Total

540,876

 

The above summary consolidates payments made by Tenkay in relation to 50 operating oil and gas fields to 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

4


-


4,190


4,190

Louisiana

8


12,406


70,396


82,802

Mississippi

1


-


37


37

Montana

2


1,159


4,200


5,359

North Dakota

2


-


1,747


1,747

Texas

26


-


17,888


17,888

Offshore

7


426,720


2,033


428,753










50


440,285


100,491


540,776

 

The full report, including a full field analysis, 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, SingaporeSouth Africa, 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
 
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