What am I worth?
Get a free salary report »
What should I pay?
Pay the right way »

Reservoir Engineer Salary

Reservoir Engineers enjoy a hefty income, with average pay passing six figures ($108K) annually in the United States. Overall cash earnings for Reservoir Engineers stretch from $86K on the lower end to $211K near the top, and the heftiest packages can encompass around $40K from bonuses and $23K from profit sharing. Compensation for this group is mainly affected by career length, but the company and location are influential factors as well. Medical benefits are awarded to almost all, and a large number earn dental coverage. The vast majority (88 percent) of Reservoir Engineers who answered the questionnaire are male. Most workers in this position report high levels of job satisfaction. The data for this synopsis comes from respondents who took the PayScale salary survey.
Read More
$81,174 - $178,952
(Median)
$81K
$110K
$180K
MEDIAN: $108,364
10%
50%
90%

Add this chart to your site: 640px    300px

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
$81,174 - $178,952  
   
Bonus
$4,898 - $39,811  
Profit Sharing
$1,923 - $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).
)
$85,751 - $211,214  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 508

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

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.

Read More...

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

Search for more jobs:

Popular Employer Salaries for Reservoir Engineer


Well-known firms with a reputation for hiring numerous Reservoir Engineers include British Petroleum (BP), Chevron Corporation, Schlumberger, Occidental Petroleum Corporation, and Shell Oil Company. ExxonMobil Corporation leads the field in terms of pay, with a median salary of $205K.

British Petroleum (BP) pays significantly less than other places with a median salary of $122K, 68 percent lower than the top payer.

Popular Skills for Reservoir Engineer


Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Strategic Planning, Mergers and Acquisitions, Business Development, and Well Production Engineering are correlated to pay that is above average, with boosts between 6 percent and 8 percent. Skills that seem to negatively impact pay include Microsoft Office. For most people, competency in Reservoir Engineering indicates knowledge of Well Production Engineering.

Pay by Experience Level for Reservoir Engineer

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


Reservoir Engineers with a rich background of experience are typically rewarded with larger paychecks. 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. The average pay reported by folks with 10 to 20 years of experience is around $176K. Seasoned veterans with 20 years under their belts enjoy a median income of $239K.

Pay Difference by Location


Bakersfield offers some of the highest pay in the country for Reservoir Engineers, 9 percent above the national average. Reservoir Engineers will also find cushy salaries in Dallas (+8 percent) and Houston (+3 percent). Those in the field find the lowest salaries in Oklahoma City, 9 percent below the national average.

Related Job Salaries

United States (change)

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 6%

Reservoir Engineering
up arrow 3%

Well Production Engineering
up arrow 3%

Simulation
up arrow 1%

National Average
$122,000

Microsoft Office
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 85 votes.

Gender

Female
12 %
Male
88 %

Years of Experience

Less than 1 year
9%
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%
ADVERTISEMENT