ONEOK Partners, L.P. plans to invest approximately $980 million to $1.1 billion between now and 2014 to:

• Build a new 75,000 barrel-per-day (bpd) natural gas liquids (NGL) fractionator, MB-3, at Mont Belvieu, Texas, and related infrastructure; • Build a new 100 million cubic feet per day (MMcf/d) natural gas processing facility - the Garden Creek II plant - in eastern McKenzie County, N.D., in the Bakken Shale in the Williston Basin, and related infrastructure; • Increase capacity on the Bakken NGL Pipeline to 135,000 bpd from 60,000 bpd; and • Build a new 40,000 bpd Ethane/Propane (E/P) splitter at Mont Belvieu, Texas.

"These projects reflect our continuing commitment to provide natural gas processing, and NGL fractionation and transportation capacity to producers actively developing shale plays within our operating footprint," said Pierce H. Norton, executive vice president and chief operating officer of ONEOK Partners. "Earnings from these projects are expected to generate additional value to unitholders in the form of higher cash distributions."

Tags: L.P., ONEOK Partners