Salary for Petroleum Engineers

Also known as:  Natural Gas Engineer, Oil Drilling Engineer, Oil Exploration Engineer, Oil Well Engineer, Petroleum Engineer

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Petroleum engineers evaluate the economic viability of proposed drilling and extraction sites for oil and natural gas. They may design or determine the need for improved equipment, monitor production rates, and conduct routine well testing and surveying. These professionals may also oversee the installation of new oil and gas wells, and work with engineers and technicians in the development or improvement of well technology. A Bachelor's degree is required for entry into this occupation.

A Petroleum Engineer will normally receive a compensation ranging from 96000 and 144000 depending on the level of seniority. Petroleum Engineers can earn a compensation of One Hundred Twenty Eight Thousand Eight Hundred dollars annually.

Petroleum Engineers are compensated most highly in Arkansas, where they receive average pay scales of approximately $180150. People in this category of job have the highest pay levels in Management of Companies and Enterprises, where they receive average wages of $179610.

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The national wage distribution is shown below. To overlay local salaries for a Petroleum Engineer, please select your state.
ANNUAL SALARY
HOURLY RATE
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SALARY TREND
The annual compensation for this career has gone up since 2004. Salaries have increased by an average of 40.18 percent nationwide in that time.
INDUSTRIES
Petroleum Engineers tend to make the most in the following industries
Finance and Insurance $179,610
Management of Companies and Enterprises $140,980
Mining, Quarrying, and Oil and Gas Extraction $130,480
Manufacturing $125,230
Professional, Scientific, and Technical Services $123,290
Utilities $110,270
In general, they earn less within the industries below
Public Administration $89,440
Wholesale Trade $106,210
Transportation and Warehousing $107,690
Real Estate and Rental and Leasing $109,580
Utilities $110,270
Professional, Scientific, and Technical Services $123,290
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