The segment of the oil and gas industry involved in exploration and production (E&P). Includes drilling, completions, and well operations.
Upstream
Related Terms
Downhole Tools
IndustrySpecialised equipment run into a wellbore to perform drilling, measurement, or completion tasks. For subcontractors, these tools often require certified handling, transport, and make-up procedures. Improper use can trigger costly liability or contract disputes.
LNG (Liquefied Natural Gas)
IndustryNatural gas cooled to -162°C to become liquid for easier transport and storage, creating specialized work opportunities for subcontractors in cryogenic equipment maintenance, pipeline construction, and terminal facilities that require specific safety certifications and cold-weather expertise.
Core Desorption
IndustryA lab process where gas is measured as it releases from rock core samples pulled during drilling. Subcontractors handling or transporting cores must follow strict protocols to preserve sample integrity. Mishandling can compromise data and trigger costly disputes with operators.
Brent Crude
IndustryA globally traded North Sea oil benchmark used to set crude pricing contracts. When Brent prices rise or fall sharply, operators often adjust project budgets, affecting subcontractor work volumes and day rates. Monitoring Brent helps field service companies anticipate slowdowns or ramp-ups in awarded work.
Lease Road
IndustryA temporary or permanent access road built to service an oil and gas lease or well site. Subcontractors are often responsible for maintaining or mobilising equipment over these roads. Road conditions directly affect trucking rates, equipment wear, and scheduling.
SPR (Strategic Petroleum Reserve)
IndustryA government-held emergency stockpile of crude oil that, when released or replenished, can trigger short-term surges in drilling, transportation, and maintenance contracts as operators respond to shifting supply directives. Field service companies should monitor SPR activity as an indicator of near-term work mobilisation and pricing conditions in their region.
Latest Industry News
Texas Upstream Sector Added 1,800 Jobs in March, Job Postings Surge 7%
Texas upstream employment grew by 1,800 jobs between February and March 2026, with support activities leading gains and job postings rising 7% month-over-month, according to TIPRO data.
1 month ago IndustryShell's $13.6 Billion Bet on Montney Shale Signals Major Upstream Cycle for Western Canada
Shell plc has agreed to acquire ARC Resources in a deal valued at approximately $13.6 billion, marking one of the largest upstream consolidations in Canadian shale history and pointing to a significant spending cycle ahead for Western Canada field service companies.
1 month ago IndustryTexas Upstream Sector Shed 900 Jobs in Early 2026, but Hiring Signals Remain Mixed
Texas upstream employment fell by 900 jobs between January and February 2026, according to TIPRO, with support activities taking the hardest hit. Here's what the data means for Permian and Eagle Ford subcontractors watching their forward workload.
1 month ago IndustryARC Resources Files Circular for Shell Acquisition, Special Shareholder Vote Scheduled
ARC Resources has filed its management information circular for the previously announced arrangement with Shell plc, setting the stage for a major Canadian upstream ownership change expected to close in the second half of 2026.
5 days agoRelated Guides
How Operator Mergers and Acquisitions Affect Your Subcontract Agreements
When operators merge, get acquired, or sell assets, subcontractor agreements are caught in the middle. Learn how M&A activity affects your MSA, payment terms, vendor status, and what to do before, during, and after a deal closes.
Industry GuideHow Rig Count Trends Affect Subcontractor Demand and What to Do About It
Rig counts are the earliest signal of where field service work is heading. Learn how to read drilling activity trends, anticipate demand shifts, and position your crew before the phone stops ringing.
Industry GuideWhat Is an AFE in Oil and Gas and How Does It Affect Subcontractor Payments?
An AFE (Authorization for Expenditure) controls every dollar spent on an oilfield project. Learn how it affects your billing, change orders, and cash flow as a subcontractor.
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