Reservoir Engineer Salary

Salaries for Reservoir Engineers in the United States are generous, with average pay above six figures ($109K) per year. Total cash compensation to Reservoir Engineers bottoms out near $83K and approaches $216K on the high end; the biggest paychecks include approximately $40K from bonuses and almost $23K from profit sharing. Career duration is the main element affecting pay for this group — the company and geography are driving factors as well. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Men make up the vast majority of Reservoir Engineers (88 percent) who took the survey. Most workers in this position report high levels of job satisfaction. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$79,859 - $180,813

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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$80K$160K$240K
Salary
$79,859 - $180,813  
   
Bonus
$4,815 - $40,151  
Profit Sharing
$1,944 - $23,154  
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).
)
$83,241 - $216,255  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 497
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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.

British Petroleum (BP) offers the lowest compensation; the median salary there averages out to only $122K. The pay range is also narrow, ranging between $86K and $247K.

Popular Skills for Reservoir Engineer


Reservoir Engineers seem to require a number of specific skills. Most notably, skills in Business Development, Mergers and Acquisitions, Strategic Planning, and Well Production Engineering are correlated to pay that is above average, with boosts between 5 percent and 6 percent. Skills that seem to negatively impact pay include Microsoft Office. 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.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. In this position, someone who has worked for fewer than five years can expect a median salary of $106K. The median for people with five to 10 years of experience is only a little bit higher at $131K. People with 10 to 20 years of experience make an average of about $176K in this role. Survey participants who have worked for more than two decades report bringing in $241K on average.

Pay Difference by Location


For Reservoir Engineers, Bakersfield provides a pay rate that is 11 percent greater than the national average. Reservoir Engineers will also find cushy salaries in Houston (+4 percent). Oklahoma City is home to the smallest salaries in the field, lagging the national average by 12 percent. Two other places where employers offer below-median salaries are Dallas (3 percent less) and Denver (1 percent less).

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Experience Affects Reservoir Engineer Salaries




National Average
$122,000


Skills That Affect Reservoir Engineer Salaries

Business Development
up arrow 6%

Mergers and Acquisitions
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 7%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 70 votes.

Gender

Female
12 %
Male
88 %

Years of Experience

Less than 1 year
8%
1-4 years
36%
5-9 years
26%
10-19 years
18%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 97% dental benefits Dental: 87%
vision benefits Vision: 75% employee benefits None: 2%
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