MIDLAND, Texas - Six people have been arrested and about $12 million in assets have been seized as part of an investigation into an oil-theft ring in West Texas.

What we know: Texas Department of Public Safety West Region Chief Jose Sanchez said Thursday that the arrests were made Aug. 12 after the execution of 17 search warrants that spanned counties across Texas and at least one county in Oklahoma.

According to Sanchez, investigators believe Vallee Oil was involved in the ring and executives of the company were among those arrested.