Petroleum engineering offers the full spectrum of career opportunitieswhether working for large multinational corporations or smaller independent oil companies, or even opportunities for the development of new companies and enterprises.<br><br>The industry continues to re-invent itself and in recent years there have been major new developments in the horizontal drilling, hydraulic fracturing, production and stimulation, and the production of deep, tight gas formations, to mention a few. Such developments have invigorated the US and global petroleum production industry and will have an important impact in meeting global energy challenges in the future.<br><br>Historically, compensation in the petroleum industry has been quite high and in recent years it has led all B.S. degrees, due to the ever increasing importance of oil and gas and energy in general and due to the large numbers of retirements among currently practicing petroleum engineers.