In domestic oil & gas, Reservoir Engineers continue to be in the highest demand within the petroleum engineering sphere, and their base salaries and compensation packages have never been higher. At an average base salary of $169,050, the current hiring landscape for these acquisitions aces and subsurface savants is as robust as ever. Combine that with annual cash bonus percentages averaging 28%, some quick math delivers an annual gross pay of $216k, and that’s before stock, 401k match or any other benefits. Again, this is the AVERAGE. 

As the overall ranks of E&P professionals continue to diminish, demand for Reservoir Engineers continues to push these numbers higher each year, with the C-suite hoping their Reservoir team can unlock hidden reserves, maximize existing wells and properly evaluate the acquisition opportunities needed to grow or the divestitures needed to get assets out the door. 

Job boards regularly show multiple open positions for Reservoir Engineers, and those are just the ones that are published. While we’re not seeing the craze of the shale boom with big signing bonuses, there are strong bonus targets, stock incentives, relocation packages and flexible work arrangements to sweeten the job offers Reservoir Engineers receive. Competition for A-players is real, with experienced engineers being courted by multiple companies, leading to additional compensation increases. 

Reservoir Engineers continue to play a crucial role in bridging the gap between an E&P company’s engineering and finance teams. Their business acumen, more than other petroleum engineering disciplines, is key to maximizing company value, be that in the public or private markets. Understanding how optimizing production adds to enterprise value adds another layer of allure to the Reservoir skill set, attracting a new generation of petroleum engineers who want to develop a multi-faceted suite of abilities. 

Lastly, since the competition for Reservoir Engineers does not just include operating companies, but also brings mineral investment firm, energy funds, investment banks and family offices, the net result is many bidders with few skilled applicants. 

Reservoir Engineers with a passion for problem-solving and a stomach for high pressure continue to be well compensated and highly sought.

ADDITIONAL COMPENSATION 

STOCK/EQUITY 

60% participate in a company stock program 

BONUS 

90% receive an annual cash bonus 

PAID TIME OFF 

Average 3.8 weeks