In the upstream sector, companies do not usually own the land they drill on. They acquire mineral rights through complex legal contracts called oil and gas leases, which involve upfront bonuses, royalty percentages, and working interests. Industry Terminology and Units
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The upstream sector is entirely focused on finding and extracting crude oil and natural gas from the Earth. It is often referred to as the Exploration and Production (E&P) sector. In the upstream sector, companies do not usually
Selling finished products through retail gas stations and industrial suppliers. Top Recommended "Oil 101" Books and Resources It is often referred to as the Exploration