<p>According to SPE (Society of Petroleum Engineers) reservoir engineers have an average salary of approximately 100,000 with 5 years experience. Drilling/production engineers who usually work out on the oil field with shifts have an average salary of $110,000 with 5 years experience. After 20 years experience reservoir engineers make 185,000$ while drilling engineers make on average $195,000. Location is also very important. Petro. Engineers in Alaska make much more than the Petro. Engineers in Texas. But cost of living is a bit higher in certain states too, like Alaska. Statistics are from September 2009.</p>
<p>Reservoir engineers estimate oil reserves in a reservoir by calculating and constructing well simulations. They also work with maximizing economic benefits from an oil well by optimizing recovery of oil and basically getting the most out of one reservoir. Reservoir engineers usually do not have to go out on the field. They do occasionally on day trips every month or so. The data that they need to create these computer models of the reservoir is given to them by remote sensing technology and geophysicsts/geologists who use special instruments to collect the data from the field site.</p>
<p>Eventually you will be in charge of approving a reservoir based on it’s value to the company and whether it’s worth the cost of setting up an operation. This type of work is done using computer simulations and predictions.</p>
<p>There’s alot of calculations you have to do like figuring out how
much oil should be pumped out of the reservor so that it doesn’t deplete the reservoir too quickly while oil prices are low. Another task might by to calculate when a well might be depleted.</p>
<p>Alot of economics are involved. But just as much geophysics is involved like keeping track of the reservoir and any geotechnical changes in the well structure. </p>
<p>Reservoir engineers have a broad function and you could be working on a number of different things. So even if you don’t like economics you may not have to work on that because your job may only be related to the geophysical aspects or oil dynamic aspects of the reservoir.</p>
<p>So that’s why you should go into reservoir engineering as your petroleum engineering speciality. You will get the lucrative pay of a petroleum engineer yet have the conveniance of a normal 40 hour a week office job in a modern city like Houston, Dubai or Anchorage. Plus you already have experience in the oil industry so that will be a significant advantage over most others who are looking for an entry job.</p>
<p>And I live in like 40 miles from Houston right now. Sounds good to me!</p>
<p>40 miles from Houston = middle of nowhere (not counting Conroe or Galveston). I feel like I have it bad enough being in as rural an area as College Station full time… haha</p>
<p>I’m 45 min from College Station, and Bryan is where My wife is from!</p>
<p>Which means I probably drive pretty close to you any time I drive to Houston. Small world.</p>
<p>“I have never heard anyone being discouraged from pursuing history, medicine, law, or business because of age.”</p>
<p>I’m pretty sure I’ve heard of people being discouraged from perusing medicine because of age, but only medicine.</p>
<p>well since Im only a kid still, I would say why not. Age doesnt matter in engineering. hell you’ll probably be more qualified than half these kids who get a ME degree and seek a job straight out of college since you have the life experience</p>
<p>I used to live in Houston too!</p>
<p>I’m 33 and transferring to a 4-year this Fall. I’ll be 36 by the time I get out. So don’t worry about your age. The biggest issue is likely to be your finances if you don’t plan on working. If you are going to work while getting your degree, it may take you longer to finish and you may have a hard time with scheduling classes if your work requires a fixed schedule. </p>
<p>As for which type of engineering to study, there has been plenty of good info already, but do make sure you end up doing something you would enjoy. While it might seem less cost effective to have a starting salary that is only slightly above what you were making before returning to school, you have to think long term. An engineer’s pay in any field is likely to be higher than a mechanic’s pay in the long run. Not to mention, it opens a lot of doors for other careers as well as engineers can easily take up many non-engineering jobs as well.</p>
<p>I don’t know if this helps but although I did finish undergrad at the “usual” age of 22, I was a 31 year old graduate student. </p>
<p>It’s never too late.</p>