We present a simplified drift-flux model for gas-liquid flow in pipes. The model is able to handle single and two-phase flow thanks to a particular choice of empirical slip law. A presented implicit numerical scheme can be used to rapidly solve the equations with good accuracy. Besides, it remains simple enough to be amenable to mathematical and control-oriented analysis. In particular, we present an analysis of the steady-states of the model that yields important considerations for drilling practitioners. This includes the identification of 4 distinct operating regimes of the system, and a discussion on the occurrence of slugging in underbalanced drilling.Downloaded From: http://proceedings.asmedigitalcollection.asme.org/ on 03/30/2015 Terms of Use: http://asme.org/terms Y Choke correction factor χ L,G Flux fraction, liquid, gas ρ L,0 Reference liquid density φ (s) Inclination