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As of August 01, 2026, the average salary for a Petroleum Engineer in New Mexico is $109,335 per year, which breaks down to an hourly rate of $53.
However, a Petroleum Engineer's salary can vary significantly. Here’s a look at the typical salary range:
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Petroleum Engineer Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $117,312 | $9,776 | $2,256 | $56 |
| Average | $109,335 | $9,111 | $2,103 | $53 |
| 25th Percentile | $98,301 | $8,192 | $1,890 | $47 |
Mewbourne Oil Company - Hobbs, NM
Jobot - Hobbs, NM
American Airlines - FORT WORTH, TX
Lane Enterprises Inc - BEALETON, VA
A Petroleum Engineer's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of a Petroleum Engineer's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here’s how the average salary grows at different career stages:
| Levels | Salary |
|---|---|
| Petroleum... Level Petroleum Engineer | $108,748 |
| Drilling ... Level Petroleum Engineer | $127,962 |
| Drilling ... Level Petroleum Engineer | $158,572 |
| Drilling ... Level Petroleum Engineer | $176,514 |
| Drilling ... Level Petroleum Engineer | $210,804 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Petroleum Engineers. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
For Petroleum Engineer roles, the industry you choose can affect earning potential by as much as 52% (the gap between the highest and lowest paying industries). Data shows that the Energy & Utilities and Finance & Insurance sectors offer the strongest compensation, at 30% above the average. In contrast, Petroleum Engineer positions in Hospitality & Leisure or Retail & Wholesale typically offer lower base pay, as these industries often view Petroleum Engineer as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Energy & Utilities | $142,136 | $68.0 | 30% |
| Finance & Insurance | $136,669 | $66.0 | 25% |
| Information Technology | $131,202 | $63.0 | 20% |
| Mining | $125,735 | $60.0 | 15% |
| Professional Services | $114,802 | $55.0 | 5% |
Understanding how a Petroleum Engineer's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $117,312 | $9,776 | $2,256 | $56 |
| Average | $109,335 | $9,111 | $2,103 | $53 |
| 25th Percentile | $98,301 | $8,192 | $1,890 | $47 |
Ready to take the next step in your career? Browse thousands of current Petroleum Engineer job openings on our job board. Use the search bar below to find your perfect match.
BHEGT
BRUSHY FORK, WV
BHEGT | BRUSHY FORK, WV
BHE GT&S has an exciting opportunity as a Risk Engineer that can be filled as an Engineer I, Engineer II or Sr Engineer at our White Oaks general office lo... more
17 Days Ago
BHE GT&S
BRIDGEPORT, WV
BHE GT&S | BRIDGEPORT, WV
BHE GT&S JOB DESCRIPTION BHE GT&S has an exciting opportunity as a Risk Engineer that can be filled as an Engineer I, Engineer II or Sr Engineer at our Whi... more
5 Days Ago
Marathon Petroleum
EL PASO, TX
Marathon Petroleum | EL PASO, TX
Marathon Petroleum is seeking a Controls Engineer to design, implement, and maintain control systems supporting our refining and energy operations. In this... more
5 Days Ago
Marathon Petroleum
EL PASO, TX
Marathon Petroleum | EL PASO, TX
Marathon Petroleum seeks a DCS Engineer to support safe, reliable operation of our refining and energy assets. In this role you will design, configure, and... more
5 Days Ago
Marathon Petroleum
EL PASO, TX
Marathon Petroleum | EL PASO, TX
Marathon Petroleum is seeking an Automation Engineer to design, implement, and support control systems across refining and energy operations. You will deve... more
5 Days Ago
Marathon Petroleum
EL PASO, TX
Marathon Petroleum | EL PASO, TX
Marathon Petroleum seeks a Control Systems Engineer to support reliable, safe, and efficient operation of refining and energy assets. In this role, you wil... more
5 Days Ago
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