Salary for Petroleum Engineers

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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 get salaries ranging from $78,620 to $208,000 based on tenure and industry expertise. will most likely receive an average wage of one hundred and fifty-four thousand three hundred and thirty dollars each year.

are compensated highest in New Jersey, where they can earn an average pay rate of about $184,560. These professionals make the highest salary in Finance and Insurance, where they receive an average salary rate of $204,750.

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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 69.11 percent nationwide in that time.

INDUSTRIES

Petroleum Engineers tend to make the most in the following industries:

Finance and Insurance
$204,750
Management of Companies and Enterprises
$180,570
Administrative, Support and Waste Management Services
$177,660
Professional, Scientific, and Technical Services
$166,930
Manufacturing
$144,350
Mining, Quarrying, and Oil and Gas Extraction
$143,900

In general, they earn less within the industries below:

Educational Services
$72,700
Wholesale Trade
$81,400
Public Administration
$118,260
Utilities
$126,550
Transportation and Warehousing
$128,860
Mining, Quarrying, and Oil and Gas Extraction
$143,900