Pecos mainly owns assets that are useful in buying and transporting crude oil in the Permian and Eagle Ford areas in Texas and New Mexico.

The company buys, collects, and delivers about 60,000 barrels per day of production and manages around 140 trucks.

Pecos also has other related contracts, permits and personal property.

NGL Energy has also signed an agreement with the former owners of Pecos under which they can buy $45m or up to $60m common shares of NGL Energy.