Reservoir Engineer Salary

Reservoir Engineers in the United States see excellent average salaries — about $109K annually. People who have worked for fewer than five years earn around $106K, and folks with five to 10 years of experience see a modestly higher median of $131K. After working for 10 to 20 years, Reservoir Engineers make a median salary of $176K. 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 $242K. The data in this summary comes from the PayScale salary survey.
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$80,777 - $181,200
(Median)
$81K
$110K
$180K
MEDIAN: $108,850
10%
50%
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$80K$160K$240K
Salary
$80,777 - $181,200  
   
Bonus
$4,872 - $40,011  
Profit Sharing
$1,936 - $23,490  
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).
)
$84,945 - $215,581  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 502
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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

  • 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


Reservoir Engineers fill the offices of leading firms British Petroleum (BP), Chevron Corporation, Schlumberger, Occidental Petroleum Corporation, and ExxonMobil Corporation. Those at ExxonMobil Corporation can expect to make the most, with the company offering a median salary of $190K.

The pay scale is far from balanced at British Petroleum (BP). While salaries on one end can reach $247K, the company's median pay sits at $123K, the lowest in the field.

Popular Skills for Reservoir Engineer


Reservoir Engineers report using a pretty varied skill set on the job. Most notably, skills in Mergers and Acquisitions, Strategic Planning, Business Development, and Well Production Engineering are correlated to pay that is above average, with boosts in pay of 7 percent. Skills that seem to negatively impact pay include Microsoft Office. Those proficient in Reservoir Engineering are, more often than not, 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


For those looking to make money, Reservoir Engineers in Bakersfield enjoy an exceptional pay rate, 9 percent above the national average. Reservoir Engineers will also find cushy salaries in Dallas (+7 percent) and Houston (+3 percent). The lowest-paying market is Oklahoma City, which sits 10 percent below the national average.

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Experience Affects Reservoir Engineer Salaries




National Average
$122,000


Skills That Affect Reservoir Engineer Salaries


Mergers and Acquisitions
up arrow 7%

Business Development
up arrow 6%

Well Production Engineering
up arrow 4%

Reservoir Engineering
up arrow 2%

Simulation
up arrow 1%

National Average
$122,000

Microsoft Office
up arrow 5%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 73 votes.

Gender

Female
13 %
Male
87 %

Years of Experience

Less than 1 year
8%
1-4 years
37%
5-9 years
26%
10-19 years
17%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 98% dental benefits Dental: 87%
vision benefits Vision: 76% employee benefits None: 2%
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