Foam fluid, the new domain for drilling unconventional reservoirs, is facing challenges before being implemented in the drilling industry because of its complex nature under dynamic borehole conditions. Its compressible nature makes the study of its rheology a complicated affair. Rheology helps in the design of an efficient drilling fluid, which depends on various other variables. In the present study, foams of variable quality were prepared from a base fluid consisting of surfactant and polymer in water. The stability, quality, and rheological behavior of the foams were observed to vary with the ionic characteristics of the surfactant, quality of the foam, and concentration of chemicals added to the base fluid. The microscopic structure of the foams reflected the variations in the foam structure with changes in different variables.