Corp America January 2017

NEWS , The acquisition and pending sale trans- actions are subject to customary closing conditions, including receipt of regulatory approvals, and are expected to close during the first half of 2017. The crude oil gathering system is located in the northern portion of the Delaware Basin and is supported by sub- stantial acreage dedications from several producers active in this portion of the Delaware Basin. “The Permian Basin is a world class resource play and we are pleased to announce this stra- tegic acquisition, which comple- ments our existing assets that provide transportation and related services throughout the Permian Basin,” said Greg Armstrong, Chairman and CEO of PAA. “The Northern Delaware Basin is an area that is experiencing increased activity levels and sig- nificant industry investment. We expect aggregate crude oil pro- duction on the dedicated acreage to double over the next two to three years, and we believe that overall Permian Basin crude oil volumes have the potential to grow as much as 50% or more during this same time period. Additionally, we expect to realize meaningful synergies with our existing assets and generate attractive investment returns relative to our cost of capital.” Armstrong also stated that this system and planned enhance- ments will provide additional flexibility and a greater range of options for area producers, JAZZ Frame® is a system of connec- tors, the final link in the JAZZ Band® technological platform dedicated to the hybrid surgical technique. Implanet now offers surgeons the possibility of defining and optimizing a global strategy to reduce major deform- ities, thus maximizing long-term clinical outcomes. “Since we have been using sub- laminar braid implants to reduce and stabilize scoliotic deformi- ties, we have been able to show significantly greater reductions than we previously obtained with our all-screw or hook-and-screw assemblies”, says Professor Keyvan Mazda, MD, Ph.D, Robert Debré Hospital, APHP, adding: “using the JAZZ Frame® facilitates the restoration of both frontal and sagittal balance, thanks to the simultaneous reduction of both thoracic curves. This is most notable in the case of the most complex deformities where shoulder imbalance is common. The result of years of clinical experience and of close collaboration with Implanet, JAZZ Frame® allows us to be even more efficient and quick for the sole benefit of patients.” Ludovic Lastennet, CEO of Implanet adds: “we continue to strictly adhere to, and execute our business plan. The rapid marketing clearance in Europe and the United States is a real source of satisfaction, innovation that maximizes the clinical value of our technology. Optimized for implementation of the “frame” technique, we expect this implant to be rapidly adopted by our partner surgeons, pediatric and adult deformity specialists alike. The marketing release of JAZZ Frame® in our various markets is scheduled for the first quarter of 2017.” including connectivity to PAA’s pipelines with access to markets in Cushing, Houston and Corpus Christi. PAA recently announced it was expanding the capacity on its Cactus pipeline from McCamey to Gardendale, Texas to approxi- mately 390,000 barrels per day. This expansion is anticipated to be completed in the third quarter of 2017 and will allow PAA to move increasing production vol- umes from the Permian Basin to Corpus Christi and other delivery points along the system. Additionally, BridgeTex Pipeline Company, LLC, in which PAA owns a 50% interest, on 23rd January announced it was expanding the capacity on the BridgeTex pipeline from Colorado City to Houston, Texas to approx- imately 400,000 barrels per day. This expansion is anticipated to be completed in the second quarter of 2017 and will also move increasing production vol- umes from the Permian Basin to the Houston Gulf Coast area. Implanet Announces Global Marketing Clearance of the New JAZZ FRAME® N IMPLANET amedical technology company specializing in vertebral and knee-surgery implants, recently announced that it has been given the green light by the American and European authorities, through FDA 510k clearance and CEmarking, tomarket its new Jazz Frame® implant. Plains All American Pipeline, L.P. on 24th January announced it had entered into definitive agreements to acquire a Permian Basin crude oil gathering system for approximately $1.2 billion. PAA also announced it had entered into definitive sales agreements totaling $380million, which includes two pending transactions aggregating approximately $310million and the completion of a third transaction in January 2017 for approximately $70million. “The Permian Basin is a world class resource play and we are pleased to announce this strategic acquisition.”