Salary and Career Info for a Petroleum Landman
Petroleum landmen work for gas and oil exploration companies. Their chief responsibility is getting permission to drill new wells, which includes drafting contracts, negotiating deals with individuals and companies, and ensuring compliance with governmental regulations. At one time, no formal education was required to become a petroleum landman; however, most people entering the field today have an undergraduate degree in business, energy management, or a related field.
Petroleum Landman Salary Information
According to PayScale.com, the majority of petroleum landmen earn between $48,000 and $131,600, as of November 2013, including base pay as well as bonuses. PayScale.com noted that those workers with one to four years of experience earned between $38,700 and $97,800 annually, while individuals with five to nine years' experience earned $69,900 to $154,000 a year.
A petroleum landman, often simply called a landman, is involved in scouting areas that could possibly hold oil. Once a petroleum landman has identified areas for drilling, he or she must negotiate contracts between the landowner and the oil and gas company. These contracts often include specifics concerning royalties, as well as a lease payment for the landowner. Communication and interpersonal skills are important since a petroleum landman is selling the idea of a lifetime lease to farmers, ranchers, and other landowners.
Oil and gas companies typically search for petroleum landman candidates who hold a degree in business or another area, such as energy management. An undergraduate energy management degree program generally includes foundational business courses and classes specific to the oil and gas industry. Core energy management courses might cover topics like petroleum geology, financial reporting, energy markets and structures, project management in the energy industry, and/or renewable energy.
Petroleum landmen can pursue voluntary certification through the American Association of Professional Landmen (AAPL), which offers the Registered Landman (RL), Registered Professional Landman (RPL), and Certified Professional Landman (CPL) designations (www.landman.org). Requirements vary for each level of certification, but, in general, they include meeting education and/or experience requirements, holding a current position as a landman, being sponsored by one or more registered or certified landmen and passing an exam. To renew their certification, petroleum landmen must meet continuing education requirements.
Related to Salary and Career Info for a Petroleum Landman
- Recently Updated
Business essentials certificate programs can help students develop proficiencies in the theories and practices of marketing,...
'Going green' has become an oft-repeated catchphrase in the last few years, but it's one of those rare phenomena that's both...
The University of Nebraska at Omaha is a 4-year public school located in Omaha, NE. It is one of the top business schools in...
Emory University, located in Atlanta, Georgia, is a top-ranked research university that was founded in 1836. Emory University's...
- Top Business University - Charlotte, NC
- Top Business PhD Programs: School List
- Study Explores Student Views on the Future of Business
- Distribution Inventory Management Education Programs and Courses
- Career Information for a Degree or Certification in Nail Manicure
- Enterprise Asset Management Education and Training Programs
- Paralegal Continuing Education Options and Requirements