Enhanced fluid rheology characterization for Manage Pressure Drilling. Hydraulics play an important role in many oil field operations including drilling, completion, fracturing, acidizing, workover and production. In Managed Pressure Drilling (MPD) applications, where pressure losses become critical to accurately estimate and control the well within the operational window, it is necessary to use the correct rheology for a precise mathematical modelling of fluid behavior. The standard API methods for drilling fluid hydraulics employ Herschel-Bulkley (H-B), Power Law (PL) or Bingham plastic as rheological models. This work summarizes the results of an extensive study on issues and relevant aspects related to the equipment and methods used to characterize the drilling fluids for MPD applications, as well as the operational implications that diverge from conventional practices. A comparison of fluid rheology characterization is made using high precision rheometers versus conventional FANN35 methods. Subsequently, a comparison of rheology model selection proposed by API 13B and by Non Linear Regression (NLR) is presented. Further investigation of shear rate ranges is presented in a MPD typical annular geometry. Results obtained via Computational Fluid Dynamics (CFD), and with the formulas suggested in API RP 13D are compared. To conclude, the effects of measurements, data treatment (Curve Fit), and environment (laboratory observations versus field experiences) in the accuracy of fluid rheology characterization and annulus pressure loss estimation are presented and discussed.