Engineering Technicians and Analysts year in and year out prove their value and are rewarded for their contribution to the overall performance of their employers’ engineering departments. With base salaries nearly 5% higher than last year, from an average of $107,451 to 2023’s average base of $112,179, Engineering Technicians and Analysts saw consistent demand for their services in all segments of the upstream oil & gas industry, including operating companies, minerals / non-op companies and financial institutions. 

As we saw in 2022, this year there continued to be strong hiring demand for Completions, Production, Operations, Drilling and even Facilities Technicians in addition to the plethora of opportunities for economics-focused Reservoir Techs. 

2024 should continue to be another excellent year for Engineering Technicians, with job opportunities within E&P firms of all sizes, as well as openings within the minerals / royalty investment sector of the industry. With the industry consolidation of this past year (and in these early days of 2024), the number of experienced Petroleum Engineering Techs in E&P will diminish. These big A&D deals will free up older engineering technicians to seriously consider retirement as stock options vests and severance packages provide the significant financial cushion needed to make a decision to ‘hang up the cleats’. 

This reality makes even more important the contribution of those companies such as QED Energy Associates that train young people with no prior industry experience to be competent, impactful engineering technicians. The industry absolutely needs young talent to be schooled in the intricacies of engineering tech work and teach these newbies the key software utilized in the role (ARIES, PhdWin, ComboCurve, Spotfire). 

With a combination of high demand, attractive salaries, and continuous opportunities for growth, a career as a Petroleum Engineering Technician offers a rewarding and challenging path for those seeking a fulfilling future in the energy sector, so we hope to continue seeing new technically-minded professionals joining their ranks. 

In the meantime, plan to see plenty of Engineering Technician job openings throughout the onshore domestic E&P marketplace, with more compensation increases anticipated in the coming year.

 

ENGINEERING TECH/ANALYST BASE SALARY     

ANNUAL CASH BONUS 

OVERALL AVERAGE 

$112,179 

26% of base salary 

 

EXPERIENCE DATA 

0-5 Years’ Experience 

$85,320 

21% 

6-10 Years’ Experience 

$104,005 

26% 

11-20 Years’ Experience 

$123,566 

29% 

21+ Years’ Experience 

$131,825 

27% 

 

 

REGIONAL DATA 

Dallas/Fort Worth Metro 

$111,450 

22% 

Denver/Rockies 

$102,333 

18% 

Houston Metro 

$119,410 

26% 

Mid-Continent 

$101,635 

20% 

Midland 

$115,544 

28% 

 

ADDITIONAL COMPENSATION 

STOCK / EQUITY 

68% participate in a company stock program 

BONUS 

90% receive an annual cash bonus 

PAID TIME OFF 

Average 3.9 weeks