Business
Report on Payments to Goverments 2017
Report on Payments to Goverments 2017.
About this update from Hunting Plc
[{"type":"text","content":"\n \nRNS Number : 7238H Hunting PLC 14 March 2018 \n\n\n\n\n\nFor immediate release\n\n\n14 March 2018\n\n\n\n\n \nHunting PLC\n \n(\"Hunting\" or the \"Company\" or the \"Group\")\n \nReport on Payments to Governments \nfor the year ended 31 December 2017\n \nHunting 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). \n \nThe 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.\n \n\n\n\n\nReporting Category\n\n\nTotal 2017 Payments\nUS$\n\n\n\n\n\n\n\n\n\n\n\n\nProduction entitlements\n\n\nNil\n\n\n\n\nState Severance Taxes \n\n\n89,635\n\n\n\n\nState Income Taxes\n\n\nNil\n\n\n\n\nFederal Income Taxes\n\n\nNil\n\n\n\n\nRoyalties\n- Onshore\n- Offshore\n\n\n \n711\n470,982\n\n\n\n\nDividends\n\n\nNil\n\n\n\n\nSignature/discovery/production bonuses\n\n\nNil\n\n\n\n\nLicence / rental fees\n\n\nNil\n\n\n\n\nInfrastructure improvements\n\n\nNil\n\n\n\n\n\n\n\n\n\n\n\n\nTotal\n\n\n561,328\n\n\n\n\n \nThe above summary consolidates payments made by Tenkay in relation to 52 operating oil and gas fields in which the business had an interest during the reporting period. Tenkay's business model has been to hold small equity or working interests in oil and gas assets across the US. \n \nPayment Analysis By State (excluding State Income Taxes)\n \n\n\n\n\nState\n\n\nNo. of Fields\n\n\n\n\n\nNet Royalties Paid\n Attributable to \n Tenkay\n\n\n State\n Severance Taxes\n\n\nTotal Payments\n\n\n\n\n\n\n\n\n\n\n\n\n\n$\n\n\n\n\n\n$\n\n\n\n\n...