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Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs.
Top 10 Oparators in Oklahoma by Wells Drilled (June 2025) Company Oklahoma Production Oklahoma CapEx Active Rigs (Drilling) Ovintiv ~91 MBOE/d (Q1 2025; ~55% liquids) ~$300–$325 MM planned 2025 ~1–2 rigs (added one in early 2025) Mach Natural Resources (Mach) ~86.7
land drilling sector: rig churn. Drilling activity in Q1 2025 declined by nearly 12% compared to the same period in 2024. Drilling segment reveals operational friction that deserves attention. Rig Churn: The Quiet Margin Killer Nabors was candid about what weighed down U.S. results: elevated rig churn.
companies, both independent and integrated, have played a pivotal role in this growth, amassing massive positions in the basin through drilling, innovation, and strategic consolidation. Permian Growth Isnt OverYet Despite a reduction in drillingrigs driven by weaker oil prices, production in the Permian is still increasing.
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