Reservoir Engineer Salary

Reservoir Engineers in the United States can expect to earn a very generous salary, with average salaries (in the ballpark of $109K) surpassing six figures annually. Survey participants with less than five years' experience report a median income of $105K, and earnings aren't much higher for respondents who have five to 10 years under their belts; respondents in the latter group report a median of just $134K. Reservoir Engineers see a median salary of $175K after reaching one to two decades on the job. Reservoir Engineers who have spent more than 20 years on the job report earning a significantly higher median of $243K. The numbers in this rundown were provided by PayScale's salary survey participants.
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$79,386 - $179,732
(Median)
$79K
$110K
$180K
MEDIAN: $109,398
10%
50%
90%

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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
$79,386 - $179,732  
   
Bonus
$2,990 - $39,962  
Profit Sharing
$2,443 - $29,087  
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).
)
$82,407 - $217,285  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 500
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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


Chevron Corporation, British Petroleum (BP), Occidental Petroleum Corporation, Schlumberger, and ExxonMobil Corporation are leaders in the field that employ a large number of Reservoir Engineers. Heading up the field in terms of compensation, Occidental Petroleum Corporation offers the most; Reservoir Engineers earn $149K on average there.

Popular Skills for Reservoir Engineer


Reservoir Engineers report using a diverse set of skills on the job. Most notably, skills in Business Development, Mergers and Acquisitions, Strategic Planning, and Well Production Engineering are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Microsoft Office. Most people experienced in 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

National Average: $121,918

Larger city markers indicate a job is popular in that location.

Reservoir Engineers employed in Houston pick up paychecks that are slightly larger than the national average; however, location does not seem to affect pay too strongly overall. Reservoir Engineers will also find cushy salaries in Bakersfield (+4 percent). For Reservoir Engineers, location is an influential factor in determining pay, and small cities are best to be avoided for those eager to increase earning potential. Salt Lake City, Oklahoma City, and Denver — three cities with fewer than a million residents — not only report salaries that trail behind the national average, but are in fact the lowest-paid American cities for those in the field. A couple other locations with smaller-than-average paychecks include Oklahoma City (12 percent lower) and Denver (2 percent lower).

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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 5%

Strategic Planning
up arrow 3%

Simulation
up arrow 2%

Well Production Engineering
up arrow 2%

Reservoir Engineering
up arrow 1%

National Average
$122,000

Microsoft Office
up arrow 8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 58 votes.

Gender

Female
14 %
Male
86 %

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: 97%
dental benefits
Dental: 85%
medical benefits
Vision: 74%
dental benefits
None: 3%
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