Reservoir Engineer Salary

Reservoir Engineers enjoy a hefty income, with average pay passing six figures ($109K) annually in the United States. In this position, someone who has worked for fewer than five years can expect a median salary of $105K. The median for people with five to 10 years of experience is only a little bit higher at $134K. After working for 10 to 20 years, Reservoir Engineers make a median salary of $175K. Average wages for folks with more than 20 years of experience come out to around $243K. This report is based on answers to PayScale's salary questionnaire.
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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


Many Reservoir Engineers can be found at Chevron Corporation, British Petroleum (BP), Occidental Petroleum Corporation, Schlumberger, and ExxonMobil Corporation, firms that are at the top of the field. Reservoir Engineers seeking a sizable paycheck can earn the most at Occidental Petroleum Corporation, where the average salary comes to $149K.

Popular Skills for Reservoir Engineer


Reservoir Engineers report using a pretty varied skill set 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 familiar with 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 working in Houston make slightly more than the national average, but overall, geography does not significantly influence pay in this role. Reservoir Engineers will also find cushy salaries in Bakersfield (+4 percent). Small cities Salt Lake City, Oklahoma City, and Denver are less-than-lucrative areas for Reservoir Engineers, where pay is not only lower than the national average but also represents the three lowest-paid areas in the country, suggesting that markets with fewer than a million residents are not ideal for those in this field. Below-median salaries also turn up in Oklahoma City and Denver (12 percent lower and 2 percent lower, respectively).

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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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