Reservoir Engineer Salary

Salaries for Reservoir Engineers in the United States are generous, with average pay above six figures ($115K) per year. Including potential for bonuses and profit sharing — peaking near $30K and $25K, respectively — total cash payment to Reservoir Engineers can bottom out near $75K or peak near $207K depending on individual performance. Career duration is the biggest factor affecting pay for this group, followed by the specific employer and geography. The vast majority of Reservoir Engineers (85 percent) who took the survey are men. The majority of workers are highly satisfied with their job. Medical benefits are awarded to nearly all, and a strong majority earn dental coverage. This snapshot results from replies to PayScale's salary survey.
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$76,761 - $182,449
$77K
$120K
$180K
MEDIAN: $116,095
10%
50%
90%

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$0$206K
Salary $76,761 - $182,449
Bonus $3,020 - $30,235
Profit Sharing $961 - $23,700
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).
)
$78,879 - $206,191
  • Country: United States
  • Currency: USD
  • Updated: 18 Nov 2017
  • Individuals Reporting: 154

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

  • 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.
  • Draft economic evaluations for all properties and prospects.
  • Coordinate with field production department on well performance and production optimization.

Reservoir Engineer Job Listings

Popular Employer Salaries for Reservoir Engineer


British Petroleum (BP), Chevron Corporation, Occidental Petroleum Corporation, Schlumberger, and ExxonMobil Corporation are among the top companies that take on many Reservoir Engineers. Those at BP Amoco can expect to make the most, with the company offering a median salary of $194K. Those in search of high salaries should also consider Occidental Petroleum Corporation, Shell Oil Company, and Chevron Corporation, top-paying firms where Reservoir Engineers rake in a massive $149K, $144K, or $141K, respectively.

Also sliding in at the lower end of the scale are British Petroleum (BP) ($122K), ExxonMobil Corporation ($136K), and Chevron Corporation ($141K).

Popular Skills for Reservoir Engineer


Reservoir Engineers report using a pretty varied skill set on the job. Most notably, skills in Simulation, Business Development, Reservoir Engineering, and Microsoft Office are correlated to pay that is above average. Skills that pay less than market rate include Strategic Planning, Well Production Engineering, and Mergers and Acquisitions. It is often found that people who know Reservoir Engineering are also skilled in Well Production Engineering.

Pay by Experience Level for Reservoir Engineer

Pay by Experience for a Reservoir Engineer has a positive trend. An entry-level Reservoir Engineer with less than 5 years of experience can expect to earn an average total compensation of $101,000 based on 85 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Reservoir Engineer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $133,000 based on 51 salaries. An experienced Reservoir Engineer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $156,000 based on 41 salaries. A Reservoir Engineer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $212,000 based on 24 salaries.

Pay Difference by Location

National Average: $126,917

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

For Reservoir Engineers, busy Houston offers a higher-than-average pay rate, 9 percent above the national average. The lowest-paying positions for Reservoir Engineers can be found in smaller cities. Salt Lake City, Oklahoma City, and Denver all face salaries below the national rate (and all fall short of a million residents). Below-median salaries also turn up in Oklahoma City and Denver (17 percent lower and 10 percent lower, respectively).

Related Job Salaries

Key Stats for Reservoir Engineer

Gender

Female
16 %
Male
84 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 25 votes.
Less than 1 year
3%
1-4 years
34%
5-9 years
28%
10-19 years
19%
20 years or more
16%

Experience Affects Reservoir Engineer Salaries

▲67%

▲23%

▲5%

National Average
$127,000

▼21%

Skills That Affect Reservoir Engineer Salaries

▲10%


National Average
$127,000


Microsoft Office
▼4%




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 25 votes.

Gender

Female
16 %
Male
84 %

Years of Experience

Less than 1 year
3%
1-4 years
34%
5-9 years
28%
10-19 years
19%
20 years or more
16%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 79%
vision benefits
Vision: 67%
no benefits
None: 9%