A Colorado firm wants to build an oil pipeline from western North Dakota into northern Minnesota.

Saddle Butte Pipeline LLC told the Star Tribune Thursday the 450-mile pipeline would run near Alexander to Clearbrook, Minn.  The pipeline has the capacity to move 150,000 barrels of crude daily. 

Saddle Butte is seeking investors and shippers, and will need state approval.

Saddle Butte President and CEO John Earley said North Dakota's pipeline capacity isn't keeping up with the growth in oil production, particularly in the western part of the state where there are booming oil patches

The company already operates over 200 miles of natural gas and crude oil pipeline in northwest North Dakota, along with a gas processing plant and oil terminals, the Tribune said.

The company hopes to have the pipeline operating by late 2013.