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Reservoir Engineer Salary

Average pay for a Reservoir Engineer in the United States is considerable, rounding six figures at $122K per year. New workers enjoy hefty six-figure paychecks when they take on this position — $108K per year is the median for people who claim less than five years' experience. Reservoir Engineers bring in $177K after working for 10 to 20 years. Reservoir Engineers who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $245K. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
$81,851 - $172,828
(Median)
82K
140K
170K
MEDIAN: $108,168
10%
75%
90%

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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$70K$140K$210K
Salary
$81,851 - $172,828  
   
Bonus
$4,920 - $39,456  
Profit Sharing
$1,923 - $20,685  
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).
)
$86,864 - $202,444  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 527
United States (change)

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

  • Draft economic evaluations for all properties and prospects.
  • Coordinate with field production department on well performance and production optimization.
  • 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.

Reservoir Engineer Job Listings

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Popular Employer Salaries for Reservoir Engineer


British Petroleum (BP), Chevron Corporation, Schlumberger, Occidental Petroleum Corporation, and Shell Oil Company are among the top companies that take on many Reservoir Engineers. Occidental Petroleum Corporation attracts talent by shelling out the biggest paychecks in the area — the median in that office is $149K.

Though certain workers may see earnings of up to $252K, British Petroleum (BP) still falls short in the compensation department — the median pay is only $123K, the lowest in the field.

Popular Skills for Reservoir Engineer


Survey results suggest that Reservoir Engineers use a fairly large toolkit of professional skills. Most notably, skills in Mergers and Acquisitions, Strategic Planning, Business Development, and Reservoir Engineering are correlated to pay that is above average, with boosts between 4 percent and 8 percent. Skills that pay less than market rate include Microsoft Office. It is often found that people who know Reservoir Engineering are also skilled in Well Production Engineering.

Pay by Experience Level for Reservoir Engineer

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

Pay Difference by Location


Reservoir Engineers will find that Dallas offers an impressive pay rate, one which exceeds the national average by 12 percent. Reservoir Engineers will also find cushy salaries in Houston (+2 percent). Trailing the national average by 6 percent, Oklahoma City is the market with the smallest paychecks. Two other places where employers salaries are below the median are Denver and Bakersfield (2 percent lower).

Related Job Salaries

Experience Affects Reservoir Engineer Salaries




National Average
$122,000


Skills That Affect Reservoir Engineer Salaries

Mergers and Acquisitions
up arrow 8%


Business Development
up arrow 4%

Reservoir Engineering
up arrow 3%

Well Production Engineering
up arrow 3%

Simulation
up arrow 1%

National Average
$122,000

Microsoft Office
up arrow 3%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 100 votes.

Gender

Female
12 %
Male
88 %

Years of Experience

Less than 1 year
9%
1-4 years
37%
5-9 years
27%
10-19 years
17%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 98% dental benefits Dental: 88%
vision benefits Vision: 77% employee benefits None: 2%