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BP to Acquire Woodside's 70% Stake in Trinidad Gas Project

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BP (BP) has agreed to acquire Woodside Energy's (WDS) 70% stake in the Calypso gas project in Trinidad and Tobago, it said Thursday.

Following the close of the transaction, which is expected by the end of the year, BP will own 100% of the early-stage, deepwater natural gas project and will assume operatorship, it said.

"The transaction demonstrates Woodside's clear focus on progressing the right opportunities across our global portfolio that have the best potential to deliver sustained value for Woodside shareholders," Woodside Chief Executive Liz Westcott said in a separate statement.

Price: $41.53, Change: $+0.33, Percent Change: +0.80%

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