Operators
The operators are companies that are in charge of the exploration and petroleum production.  Operators can be classified into major or minor based upon their production capabilities or market capital.

What do operators do?

Upstream
In the petroleum field, upstream refers to the portion of the industry that involves the extraction of petroleum. It is also referred to as the exploration and production sector, because it concentrates on the practice and the objective of finding crude oil and natural gas. This industry includes: Upstream research and Development, Gas Marketing, Exploration, and Production.

Upstream Research and Development
The investment in this research is more critical than ever, as the work force in the oil and gas industry is aging, and employee numbers are dwindling through attrition. The research is so important because in the field of petroleum technology is evolving so rapidly that most individuals working for companies are simply not able to keep up with the majority of new advances.
Upstream R&D is dedicated to finding new methods and applications to satisfy the ever changing needs of customers. One example is the projects that are focusing on methods to reduce the environmental costs associated with water handling. Another example is the development of methodologies to quantify sales benefit, and to improve the design and specification of remote control and monitoring systems for management of petroleum.  Upstream Research and Development makes for better reservoir management and profitability.

Exploration and Production
Exploration and Production are the first steps in enjoying the numerous benefits of the petroleum industry.  From heating our homes and fueling our cars, to an incredible array of oil derivatives, fertilizers for productive agriculture, and a plethora of combustibles, the production of petroleum products affects us on a daily basis.  As you can see, the discovery and utilization of petroleum resources is of prime importance.

Drilling is an integral part of the production and exploration field.  Finding and implementing the optimum design for wells and associated production systems are a critical parameter to success and subsequent maximization of recovery of petroleum. Before the drilling process can begin, geophysical data must be gathered to ensure safety and success.  This part of exploration is called Geophysical Services, and it serves as a strong base for the exploration and production area.

Downstream
Downstream is a term used to describe the processing of petroleum.  It includes:

Refining & Supply
In the refining process, crude petroleum is separated into parts, sometimes called fractions, according to the molecular mass.  It is then used to produce oils, lubricants, gasoline, etc.

Fuels Marketing
In today’s world, the demand for fuel grows daily.  Fuel Marketers provide their services and products to a diverse and global base of customers.  Common motorists, the aviation industries, and the marine industries all require fuel to operate.

Lubricants & Petroleum Specialties
Companies produce lubricants and petroleum specialties like lubricating oils and waxes, diesel fuel, kerosene, gasoline, aviation fuel, lubricating equipment, etc. to meet customer needs for industrial and transportation applications.

Research and Engineering
The Petroleum Research and Engineering sector is constantly creating new and innovative methods to enhance every aspect of the petroleum industry.  New drilling methods are safer and more accident proof today than ever before, thanks to cutting edge technology.  New and more efficient refining methods ensure more useful applications for petrochemicals, natural gas, coal, oil shale, and many other petroleum resources.

Service Companies
The service companies act as a counterpart to the operators by providing critical services. Upstream services include pumping, production equipment, well controls, rig contracting, and drill bits among other things. Midstream operations are made possible by pipelines and controls. And finally, downstream services include chemical and completion processes. Therefore, both facets of the petroleum industry come together to function as a single entity.
 
Examples of what service companies do:

• Pumping
  Pumping is a rather broad term, used to describe the many ways that we pull petroleum resources out of the ground.  Technically, pumping uses a difference in pressure to move a material through a medium from one point to another.
  
  
• Completions
  Completion describes the hardware used to optimize the production of petroleum from any given well.  It can involve an assembly of piping and equipment put into place during the construction phase of drilling.  These methods help ensure safe and efficient extraction.
  
   
• Chemical Services
  Service companies provide chemical services to the operators, and there are a great many different applications for chemicals in the industry.  Injection treatments use alkaline substances to aid in the separation of oil and water in the reservoir, while polymers help to increase sweep efficiency.  Many such recovery processes are made possible with chemical treatments.
  
  
• Process and Pipeline
  The process services offered include gathering seismic and geophysical data to evaluate a petroleum formation.  Pipelines are involved in moving the petroleum usually from the well to a refinery.
  
  
• Coiled Tubing
  A long, continuous length of pipe wound on a spool that can be used for drilling and well completion procedures.
  
  
• Well Testing
  Well testing usually involves injecting a fluid into a reservoir, and measuring the pressure decline over time.  There are many different ways to perform a well test, but they are done in the interest of gathering data and ensuring safety on a drill.
  
   
• Stimulation
  Stimulation is a treatment process of restoring or enhancing the productivity of a well.  There are two major groups of stimulation, matrix treatments and hydraulic fracturing treatments.  Matrix treatments are performed to restore permeability after damage has occurred in a well.  Hydraulic fracturing treatments involve using pressure to break rock in the reservoir to increase permeability.
  
  
• Drilling
  Drilling is another broad term.  Because petroleum reserves are underground, this involves drilling one or more holes to access the resource.  Contrary to common assumption, it isn’t just a simple hole going straight down.  Techniques have been developed to deviate from a normal path, which is known as directional drilling.  With cutting edge robotics, we will continue to see even more complex and ingenious drilling processes.

A few examples of some service companies are Baker Hughes, BJ Services, ENSCO, Halliburton, Schlumberger, and Wild Well Control.

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