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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 ($108K). Individuals who have worked for fewer than five years report earning $106K on average, a generous six-figure sum for those just starting out. On average, Reservoir Engineers make $175K following one to two decades on the job. Survey participants who have worked for more than two decades report bringing in $244K on average. Respondents to the PayScale salary survey provided the data for this report.
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$81,289 - $178,174
(Median)
$81K
$110K
$180K
MEDIAN: $108,045
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$70K$140K$210K
Salary
$81,289 - $178,174  
   
Bonus
$4,912 - $39,788  
Profit Sharing
$1,922 - $23,207  
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).
)
$85,895 - $209,225  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 511

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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


Known for taking on a considerable number of Reservoir Engineers, British Petroleum (BP), Chevron Corporation, Schlumberger, ExxonMobil Corporation, and Occidental Petroleum Corporation are leading firms in the industry. Reservoir Engineers flock to ExxonMobil Corporation for generous paychecks, where average earnings of $163K lead the pack in compensation; however, ExxonMobil Corporation also provides employees with a wide spectrum of compensation ranging from $90K at one end to $285K at the other end.

Although British Petroleum (BP) hands out the lowest average salary in town at $122K, employee compensation still varies greatly; workers can make as little as $91K or as much as $247K.

Popular Skills for Reservoir Engineer


Survey results show that Reservoir Engineers use a fair number of 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 between 6 percent and 8 percent. Skills that pay less than market rate include Microsoft Office. It is often found that people who know Reservoir Engineering are 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 Dallas enjoy an exceptional pay rate, 12 percent above the national average. Reservoir Engineers will also find cushy salaries in Bakersfield (+4 percent) and Houston (+3 percent). The lowest-paying market is Oklahoma City, which sits 9 percent below the national average.

Related Job Salaries

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Experience Affects Reservoir Engineer Salaries




National Average
$121,000


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
$121,000

Microsoft Office
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 86 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
11%

Common Health Benefits

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