Energy Appraisal Experts

The Oil and Gas Industry is structured into the Upstream Sector, the Midstream Sector, Chemical Sector, and the Downstream Sector. Each of these sectors represents an operating component of the industry that performs a function independent of the others. The primary components include exploration, development, production, transportation, refining, manufacturing, distribution, and marketing.

The Upstream Sector is typically represented by the exploration, development, and production components. Through exploration and development, companies identify and evaluate prospective oil and gas fields, obtain drilling rights, contract for drilling and related services, and purchase the expendable tools, equipment, and supplies. Production involves the further evaluation of the commercial potential of wells and fields and the completion of well development.

The Downstream Sector includes petroleum refineries, renewable fuels plants, storage terminals, racks, pipelines, gas-to-liquids plants, and retail marketing assets. Oil refineries are the primary assets in this sector, but they require assets from farther downstream in order to deliver their products to the market. These downstream assets include storage terminals and racks and the pipelines that move the product. Marketing assets, or service stations, receive the products from the rack and provide a safe and reliable method to provide fuel for customers' vehicles.

The chemicals industry encompasses commodity chemicals, basic chemicals, specialty chemicals, inorganic chemicals, life science chemicals, plastics manufacturing, performance chemicals, and pharmaceuticals.