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Weekly news wrap: AstraZeneca, Premier Oil, Computacenter, Shanks Group, Bovis Homes, Petrofac

13th Mar 2010, 2:52 pm Weekly news wrap: AstraZeneca, Premier Oil, Computacenter, Shanks Group, Bovis Homes, Petrofac

BP (LSE: BP) said it is paying Devon Energy Corp (NYSE: DVN) US$7.0 billion in cash for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico, giving the UK oil major a material exploration position in the deepwater offshore Brazil and significantly enhance its position in core strategic areas.

Dragon Oil (LSE: DGO) has completed the initial testing of two Dzheitune development wells, A/142 and 13/143, at its Cheleken operation in the Caspian Sea. The wells were drilled to 3,961m and 3,450m, and tested at combined rates of 2,103 barrels of oil per day (bopd) and 2,168bopd respectively.

Mobile operator Vodafone’s (LSE: VOD) communication managing business Vodafone Global Enterprise (VGE) has secured a five-year contract to provide Germany's logistics group Deutsche Post DHL (FSE: DPW) (DPDHL) with a fully managed MPLS network in 67 countries.

AstraZeneca (LSE: AZN) has agreed a license and supply deal with India's Torrent Pharmaceuticals, whereby Torrent will supply a portfolio of generic medicines to AstraZeneca. The generic medicines are already licensed in a range of countries, and the partnership intends to brand and market them in many where AstraZeneca already has a strong commercial footprint.

Supermarket chain Morrisons (LSE: MRW) said in its results statement for the year ended 31 January 2010 that it added a further 43 new stores in the period, increased turnover by 6% to £15.4bn and reported underlying profits by 21% to £767m from the previous year.

In it full-year results statement, Computacenter (LSE: CCC) said it made good progress in 2009 and it has entered 2010 with a lower cost base, having secured large services contracts. For the twelve months ended 31st December2009, the company reported a 25.8% increase adjusted pre-tax profit to £54.2m compared with £43.1m in the previous year, earnings per share (EPS) increased 31.9% to 27.7p.

Midcap oil and gas producer Premier Oil (LSE: PMO) achieved the primary exploration target of the 34/5-1 S wildcat well at production license 374 S in the Norwegian portion of the North Sea by making a petroleum discovery in the Cook formation, while the other formation Statfjord came up dry.

Gold Resource Corporation (OTC:GORO, ETR:GIH) confirmed this morning that Hochschild Mining (LON:HOC) has increased its holding to 28.7% after it subscribed for 600,000 shares in a private placement and acquired a further 440,500 shares in the market.

Waste manager Shanks Group (LSE: SKS) has ended its discussions with its private equity suitor, the Carlyle Group, saying the international private equity group’s final price indication of 120p per share does not properly reflect Shank’s value.

Insurer Prudential PLC (LSE: PRU) said that further to the announcement on 1 March 2010 regarding the reverse takeover of Prudential by AIA Group Ltd, it has made an application to the Hong Kong Stock Exchange for the listing of its shares. It is now aiming to have the listing effective prior to launch of the rights issue announced on 1 March 2010.

Arrow Energy (ASX:AOE) today announced that it has received a non-binding indicative and conditional proposal from a company jointly owned by Royal Dutch Shell (LSE:RDSB) and PetroChina.

House builder Bovis Homes Group (LSE: BVS) returned to profits in the 2009 full year , bagging £4.8 million pretax profit compared to last year’s loss of £78.7 million as private home reservations jumped 82% during the year. The group offered an upbeat outlook for the current year, intending to increase capacity to benefit from the ongoing recovery in the markets.

Petrofac (LSE: PFC) said that 2009 was another excellent year, and for the year to end-December 2009, the oil and gas company reported a 33% year-on-year increase in net profit to US$353.6m compared to US$265m in the previous year. Similarly earnings (EBITDA) were up 34% at US$559m and earnings per share also rose 34% to 103.19 cents.

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