Best Value Petroleum Engineering Colleges

New Mexico Institute of Mining and Technology delivers the lowest net cost at $8,265 while producing graduates earning $75,204, creating one of the strongest value propositions in petroleum engineering education. The $20,000+ cost difference between top public programs like New Mexico Tech and Texas A&M reflects significant variations in state funding and regional economics. Texas dominates this field with four programs, directly serving the Permian Basin and Eagle Ford Shale regions where major operators like ExxonMobil, Chevron, and ConocoPhillips maintain extensive operations. Net costs range from $8,265 to $29,240 across these programs, while graduate earnings span $60,099 to $92,124, showing that affordable education can still lead to six-figure starting salaries. The acceptance rates vary dramatically, from Texas Austin's selective 31% to Wyoming's accessible 96%, giving students multiple pathways into this specialized field that supplies engineers for America's largest oil and gas producing regions.

Programs

$3,061 – $29,240

Net Price Range

$75,451

Avg. Program Earnings

63.3%

Avg. Graduation Rate

24 Petroleum Engineering Programs

Program rankings
#	School	Net Price	Program Earnings	In-State Tuition	Graduation Rate	Acceptance Rate
1	The University of Texas Permian Basin Odessa, Texas	$9,144	$87,532	$10,904	43.0%	94.7%
2	New Mexico Institute of Mining and Technology Socorro, New Mexico	$8,265	$75,204	$9,058	56.4%	74.4%
3	University of Alaska Fairbanks Fairbanks, Alaska	$9,634	$75,889	$8,640	36.7%
4	University of Wyoming Laramie, Wyoming	$11,779	$73,949	$6,938	59.8%	96.0%
5	Missouri University of Science and Technology Rolla, Missouri	$13,773	$72,214	$14,278	63.6%	81.5%
6	University of Oklahoma-Norman Campus Norman, Oklahoma	$17,413	$91,017	$9,595	75.3%	72.9%
7	University of Houston Houston, Texas	$13,853	$67,380	$9,711	64.9%	66.2%
8	Montana Technological University Butte, Montana	$16,240	$78,343	$8,050	58.1%	89.5%
9	West Virginia University Morgantown, West Virginia	$12,997	$61,303	$9,648	61.2%	88.4%
10	The University of Texas at Austin Austin, Texas	$19,678	$88,723	$11,678	87.6%	31.4%
11	Texas A & M University-College Station College Station, Texas	$20,924	$92,124	$13,099	83.8%	62.7%
12	University of Louisiana at Lafayette Lafayette, Louisiana	$14,118	$61,888	$10,418	52.0%	74.6%
13	Texas Tech University Lubbock, Texas	$20,071	$83,325	$11,852	67.5%	67.3%
14	Marietta College Marietta, Ohio	$18,372	$71,575	$38,974	58.1%	82.9%
15	University of North Dakota Grand Forks, North Dakota	$18,998	$72,762	$10,951	63.3%	83.3%
16	University of Kansas Lawrence, Kansas	$17,365	$63,005	$11,700	68.8%	87.8%
17	University of Tulsa Tulsa, Oklahoma	$23,678	$80,022	$48,602	73.3%	69.2%
18	Louisiana State University and Agricultural & Mechanical College Baton Rouge, Louisiana	$20,015	$60,099	$11,954	71.0%	75.7%
19	Colorado School of Mines Golden, Colorado	$29,240	$77,213	$21,186	79.4%	58.0%
20	Texas A & M University-Kingsville Kingsville, Texas	$10,204		$9,892	45.6%	96.6%
21	Texas A & M International University Laredo, Texas	$3,061		$7,846	48.9%	47.9%
22	Slippery Rock University of Pennsylvania Slippery Rock, Pennsylvania	$19,524		$10,507	65.9%	74.3%
23	Saint Francis University Loretto, Pennsylvania	$19,173		$41,720	72.8%	73.1%
24	Mississippi State University Mississippi State, Mississippi	$15,501		$9,815	62.9%	75.2%

Frequently Asked Questions

What petroleum engineering program offers the best cost-to-earnings ratio?

New Mexico Institute of Mining and Technology provides strong value with a net cost of $8,265 and graduate earnings of $75,204, creating a 9:1 earnings-to-cost ratio. Texas A&M leads in graduate earnings at $92,124 but costs $20,924 net, resulting in a 4.4:1 ratio. University of Oklahoma graduates earn $91,017 with a net cost of $17,413, producing a 5.2:1 ratio that ranks second overall.

How do public and private petroleum engineering costs compare?

Marietta College represents the only private option at $18,372 net cost, falling in the middle range of public programs rather than commanding the typical private premium. Public in-state tuition ranges from Wyoming's $6,938 to Texas A&M's $13,099, showing substantial state-by-state variations. The $38,974 sticker price at Marietta demonstrates how private aid packages can bring costs closer to public levels.

Does acceptance rate correlate with program quality in petroleum engineering?

Texas Austin combines the lowest acceptance rate at 31% with strong earnings of $88,723 and an 88% graduation rate, suggesting selectivity can indicate quality. However, Wyoming maintains a 96% acceptance rate while producing graduates earning $73,949, proving accessible programs can deliver solid outcomes. New Mexico Tech accepts 74% of applicants yet achieves the best value ratio in the field.

What regional advantages do Texas petroleum engineering programs offer?

Four Texas programs appear in this ranking, reflecting the state's position as America's top oil producer with 40% of national output. Texas graduates earn between $67,380 and $92,124, with direct access to Permian Basin operations and Houston's energy corridor. The concentration of programs from $9,144 to $20,924 net cost provides options across different budget levels while maintaining proximity to industry employers.

Where do petroleum engineering graduates accumulate the least debt?

Texas Austin graduates carry just $17,239 in debt while earning $88,723, creating the most favorable debt-to-income ratio at 19%. Texas A&M follows with $18,969 debt against $92,124 earnings, representing a 21% debt-to-income ratio. Louisiana Lafayette offers the lowest debt at $20,500, though earnings of $61,888 result in a 33% debt-to-income ratio.

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Net price reflects the average cost after grants and scholarships for first-time, full-time students. See our methodology for details.