Measurements of pressure drop, temperture, and average void fraction are presented for adiabatic, vertical-upwards, two-phase flow of Refrigerant 114 in a pipe. An experimental method has been developed according to which the evolution of flow states occurring in long pipes can be realized in a test section of limited length. The experiments cover the range of the flow from flashing to near choking. The measurements indicate existence of macroscopic thermodynamic equilibrium, except in the immediate neighborhood of flashing. Compressibility due to phase change is shown to play a very important role in the development of the flow. Three regions are recognized based on the measured energetics of the flow. Each region is dominated by potential energy changes, dissipation, and kinetic energy changes, respectively. The evolution of the flow is governed by hydrostatic effects in the initial region after flashing and by high, phase-change-induced kinetic energy increases far downstream as the flow approaches choking. In the intermediate region, viscous, inertial and gravitational effects play a role of comparable importance. The interfacial and wall shear forces have also been calculated from the measurements. The former dominate the initial regions of the flow, while the latter are strongest at high vapor contents.