Reservoir Engineer Salary

Six-figure salaries are the norm for Reservoir Engineers in the United States, with median pay hovering around $114K per year. In the world of Reservoir Engineers, total cash compensation can vary between $76K and $207K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $31K and $28K, respectively. This group's pay is mainly influenced by experience level, followed by the company and geographic location. Making up 78 percent of those who took the survey, male Reservoir Engineers greatly outnumber their female counterparts. Almost all report receiving medical coverage from their employers and a fair number collect dental insurance. Job satisfaction is high and work is enjoyable for most Reservoir Engineers. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$73,242 - $181,013
$73K
$110K
$180K
MEDIAN: $114,054
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$70K$140K$210K
Salary
$73,242 - $181,013  
   
Bonus
$2,576 - $30,608  
Profit Sharing
$500 - $27,500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$75,711 - $206,948  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 163
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Job Description for Reservoir Engineer

Reservoir engineers are specialists in locating - and helping petroleum companies effectively use - underground reservoirs of fossil fuels. Using geological expertise, knowledge of fluid mechanics, and various forms of technology, the reservoir engineer determines the location of underground fuel reservoirs and their reserve capacities, as well as whether their long-term viability makes them suitable for investment. The reservoir engineer works with geologists to monitor the reserves as fuels are extracted and makes adjustments to extraction processes as geological changes occur with the depletion of the fuel. As easier-to-reach fuel reservoirs are depleted internationally, reservoir engineering increasingly explores new techniques to locate viable drilling spots, and developing and modifying machinery to tap into these spots.

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Reservoir Engineer Tasks

  • Monitor and maintain reserve and decline estimates in order to maximize production for existing properties.
  • Conduct reservoir engineering studies, such as field studies for primary recovery, material balance, and decline curve analysis.
  • Draft economic evaluations for all properties and prospects.
  • Coordinate with field production department on well performance and production optimization.

Reservoir Engineer Job Listings

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Popular Employer Salaries for Reservoir Engineer


Leading companies who hire large numbers of Reservoir Engineers include British Petroleum (BP), Chevron Corporation, Occidental Petroleum Corporation, Schlumberger, and ExxonMobil Corporation. BP Amoco offers the largest salaries in town — $194K on average. Other big spenders include Occidental Petroleum Corporation, Shell Oil Company, and Chevron Corporation, top-paying firms where Reservoir Engineers see paychecks nearing $149K, $144K, or $141K.

British Petroleum (BP), ExxonMobil Corporation and Chevron Corporation are three other employers with a reputation for below-average pay, showing salaries around $122K, $136K, and $141K.

Popular Skills for Reservoir Engineer


Reservoir Engineers seem to require a number of specific skills. Most notably, skills in Simulation, Business Development, Reservoir Engineering, and Microsoft Office are correlated to pay that is above average. Skills that seem to negatively impact pay include Strategic Planning, Well Production Engineering, and Mergers and Acquisitions. Those educated in Reservoir Engineering tend to be well versed in Well Production Engineering.

Pay by Experience Level for Reservoir Engineer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Reservoir Engineers with a rich background of experience are typically rewarded with larger paychecks. Even the relatively untried can take home bulky six-figure salaries; employees who have worked for fewer than five years report earning $101K on average. Reservoir Engineers who work for 10 to 20 years in their occupation tend to earn about $156K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $212K.

Pay Difference by Location

National Average: $122,624

Larger city markers indicate a job is popular in that location.

Reservoir Engineers will find that Houston offers an impressive pay rate, one which exceeds the national average by 11 percent. Reservoir Engineers will also find cushy salaries in Dallas (+1 percent). Relative to Reservoir Engineers in the rest of the country, smaller cities like Salt Lake City, Oklahoma City, and Denver see salaries below the national average. These cities in particular — each home to fewer than a million residents — offer Reservoir Engineers less pay than any other American city. Employers in Oklahoma City and Denver also lean toward paying below-median salaries (16 percent lower and 9 percent lower, respectively).

Related Job Salaries

Key Stats for Reservoir Engineer

Gender

Female
22 %
Male
78 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 19 votes.
Less than 1 year
5%
1-4 years
37%
5-9 years
25%
10-19 years
19%
20 years or more
14%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Reservoir Engineer Salaries

▲73%

▲28%

▲9%

National Average
$123,000

▼18%

Skills That Affect Reservoir Engineer Salaries

▲14%



National Average
$123,000

Microsoft Office
▼1%




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 19 votes.

Gender

Female
22 %
Male
78 %

Years of Experience

Less than 1 year
5%
1-4 years
37%
5-9 years
25%
10-19 years
19%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 76%
vision benefits
Vision: 62%
dental benefits
None: 8%
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