Reservoir Engineer Salary

Average pay for Reservoir Engineers in the United States is more than reasonable, with annual salaries pushing past the six-figure mark ($109K). Individuals who have worked for fewer than five years bring in approximately $106K on average. Those in the five-to-10 year range can expect an average that is only a touch bigger at $131K. For Reservoir Engineers, 10 to 20 years of experience on the job amounts to an average salary of $176K. Survey participants who have worked for more than two decades report bringing in $242K on average. Respondents to the PayScale salary survey provided the data for this report.
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$80,803 - $181,162
(Median)
$81K
$110K
$180K
MEDIAN: $109,137
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
$80,803 - $181,162  
   
Bonus
$4,872 - $40,122  
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).
)
$84,991 - $216,799  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 503
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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


British Petroleum (BP), Chevron Corporation, Schlumberger, Occidental Petroleum Corporation, and ExxonMobil Corporation are some prominent firms with considerable interest in employing a large team of Reservoir Engineers. ExxonMobil Corporation leads the field in terms of pay, with a median salary of $190K.

British Petroleum (BP) offers the smallest salaries in town — $123K on average — but the considerable range in workers' salaries (stretching from $91K to $247K) creates a rather varied pay scale.

Popular Skills for Reservoir Engineer


Reservoir Engineers seem to require a number of specific skills. 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 are correlated to lower pay, on the other hand, include Microsoft Office. Most people who know Reservoir Engineering also know 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


Bakersfield is home to an above-average pay rate for Reservoir Engineers, 10 percent higher than the national average. Reservoir Engineers will also find cushy salaries in Dallas (+7 percent) and Houston (+3 percent). Oklahoma City is the lowest-paying area, 11 percent south of the national average.

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Experience Affects Reservoir Engineer Salaries




National Average
$123,000


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
$123,000

Microsoft Office
up arrow 6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 74 votes.

Gender

Female
13 %
Male
87 %

Years of Experience

Less than 1 year
8%
1-4 years
36%
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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