Petroleum Engineer in Denver, Colorado Salary
How much does a Petroleum Engineer make in Denver, CO? A Petroleum Engineer in Denver enjoys a hefty income, with the average salary surpassing six figures ($105,478) annually. This is 5% above the national average for a Petroleum Engineer which is $100,461 annually. Salaries for a Petroleum Engineer in Denver range from $72,000 per year to $150,000 per year. Total Annual Compensation, which includes salary, bonus, profit sharing, and overtime for a Petroleum Engineer in Denver ranges from $69,926 to $153,097 annually. Job satisfaction is reported as 3 out of 5 stars. Men make up a majority of the Petroleum Engineer workforce in Denver among those reporting — 100 percent to be exact. In Denver, a Petroleum Engineer often enjoys medical, dental, and vision benefits provided by their employer.
|Salary||$72,000 - $150,000|
|Bonus||$2,936 - $37,532|
|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).)
|$69,926 - $153,097|
Job Description for Petroleum Engineer
Petroleum engineers design and oversee the production and methods for retrieving oil and natural gas from various depths beneath the earth's surface. Most petroleum engineers work for oil companies. Others work at universities or research facilities.Read More...
Some of these engineers work in the field and help prospecting teams make recommendations on drilling sites based upon the cost, effort and feasibility of retrieving the product from where it is discovered. When a site is selected, these engineers will test the drilling samples and decide which is the safest method for retrieving the oil or gas. In some cases, oil will be under pressure and will rise to the surface without help from the engineer. In other cases, the oil will have to be pumped to the surface.
Another task of petroleum engineers is to design the drilling, pumping, prospecting, and storage equipment that get the job done. These people often work in research and development facilities or colleges, universities and trade schools.
Other petroleum engineers work at drilling sites. These engineers oversee the building and operation of subterranean drills, oil derricks, and other necessary equipment. Once the well is established, they will look for methods that will improve oil and gas production. If necessary, they will design or modify tools or offer technical advice that will help achieve satisfactory economic progress. Engineers in this aspect of their field will usually spend a lot of time working outdoors. They might even work at sea on drilling platforms or specialized drilling ships.
Petroleum engineers design, maintain and build oil pipelines. They may also be employed by oil storage facilities. (Copyright 2017 PayScale.com)
Petroleum Engineer Tasks
- Devise methods to improve oil and gas well production and determine the need for new or modified tool designs.
- Oversee drilling and offer technical advice to achieve economical and satisfactory progress.
Petroleum Engineer Job Listings
Pay by Experience Level for Petroleum Engineer
Pay by Experience for a Petroleum Engineer has a positive trend. An entry-level Petroleum Engineer with less than 5 years of experience can expect to earn an average total compensation of $123,000 based on 27 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Petroleum Engineer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $129,000 based on 13 salaries. An experienced Petroleum Engineer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $146,000 based on 6 salaries. A Petroleum Engineer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $179,000 based on 5 salaries.
Key Stats for Petroleum Engineer
Rated 3 out of 5
based on 5 votes.