Reservoir Engineer Salary

A Reservoir Engineer earns an average salary of $108,850 per year. Experience strongly influences pay for this job.
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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.

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Pay by Experience Level for Reservoir Engineer

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

Pay Difference by Location

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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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