Oneok Partners LP yesterday announced plans to build approximately $595 million to $730 million of natural gas liquids projects between now and 2013.

The preliminary cost estimates for the new projects are:

• $450 million to $550 million to build a 525- to 615-mile NGL pipeline that will transport unfractionated NGLs from the Bakken Shale in the Williston Basin in North Dakota to the partnership’s Overland Pass Pipeline, a 760-mile NGL pipeline extending from southern Wyoming to Conway, Kan.;

• $35 million to $40 million for related capacity expansions for ONEOK Partners’ anticipated 50-percent interest in the Overland Pass Pipeline to transport the additional unfractionated NGL volumes from the new Bakken Pipeline; and

• $110 million to $140 million to expand the partnership’s fractionation capacity at Bushton, Kan., by 60,000 barrels per day to accommodate the additional NGL volumes.

In aggregate, these projects are expected to generate earnings before interest, taxes, depreciation and amortization multiples of five to seven times. The incremental fee-based earnings from these projects are expected to increase distributable cash flow and value to unitholders.

“As producers continue to aggressively develop NGL-rich natural gas production from crude oil-producing wells in the Bakken Shale and Three Forks formations, natural gas liquids takeaway capacity is required,” said Terry Spencer, Oneok Partners chief operating officer.