ONEOK: Investor Day, September, 2012

From the SeekingAlpha.com transcript:

....  the prolific Bakken Shale in the Williston Basin. (The presentation is linked here.)

When our projects that we've announced in the Bakken are completed, we will have invested in our gathering and processing segment almost $1.5 billion to construct four new natural gas processing plants at a capacity of 100 million cubic feet per day each. They are in North Dakota, the Garden Creek number one and two plants [McKenzie County]. The Stateline's number one and two plants [are in the] Divide County gas gathering system. These projects together will increase our current processing capacity in the Bakken Shale to approximately 500 million cubic feet per day.

We are also investing in new well connect, system expansions and upgrades to our gathering and compression assets which are associated with these new plant to get supplies to those processing facilities and those investments are backed by percent or contracts with acreage dedications and a fee-based component.

Talking more about the Bakken Shale, we are making major NGL infrastructure investment in the Bakken as well, and those investments are backed primarily by the NGL production from our existing and new processing plants that I just talked about on the previous slide.

We have begun construction on a 500-mile Bakken NGL pipeline that's going to be in service during the first half of 2013, which will transport unfractionated or raw NGLs to the Conway and Mont Belvieu market hubs. It will utilize a pipeline. We already own a 50% ownership in, which is our Overland Pass pipeline, and the NGLs will be fractionated at our Williston fractionator, which is also in a process of being expanded.
One of the key points I would like to make about the Bakken NGL pipeline is that it will for the first time allow processing plant in the Bakken or in the Williston Basin to recover and transport ethane which currently is not possible.

In the Bakken, and we have to talk about the crude oil, it is a prolific crude oil play with projection expected to increased well over 1 million barrels per day within the next five years, because of that growth crude oil takeaway capacity in general is absolutely required for this area. In order to connect this additional supply to the marketplace that's being developed, we've announced plans to build the crude oil pipeline to bring light sweet oil --  and when I say sweet: low to no hydrogen sulfide crude oil -- from the Bakken Shale to the crude oil hub in Cushing, Oklahoma. The 1,300 mile Bakken crude oil express pipeline will parallel more than 80% of current and planned NGL pipelines and it is expected to be in service by early 2015. 

Later this month, we expect to hold an open season as we continue to negotiate with anchor shippers on the project. For producers this new pipeline provides a reliable mode of transportation at a lower cost versus other alternatives. It allows them to increase their netbacks and receive the benefits of their high quality crude oil, so that's the unique thing about this particular pipeline is that it will focus on light-sweet crude, which too many of those producers is an advantage. That way they can ensure when their barrels get to Cushing, they have that same light-sweet barrel, which is very important to them.

Not entirely unique. It is my understanding that Enbridge also limits light, sweet Bakken oil in their Bakken pipelines, and, of course, that's true also of oil shipped by rail.