Dude, are you in denial? GPA should be the least of your concerns about this industry. What are u going to do w such a SPECIALIZED degree when u graduate and there are no jobs?
The industry is in serious crisis and is projected to stay that way for a prolonged time. This downturn is different. Fracking technology has fundamentally changed the equation: it has changed the project development time cycle and has created a global supply glut. The Saudis are determined to keep prices low to maintain supply market share. Iran, post-sanctions, is now flooding the market. Global storage facilities are full and cannot soak up any more excess oil supply. On top of it all, global demand for oil is soft because of weakening economies in Latin America, Europe & Asia-- especially China.
There have been hundreds of thousands of job losses and countless company bankruptcies. EVERYDAY in the WSJ and FT there are ever more dire reports aboutnthe industry. The energy stocks in my retirement fund are in the toilet.
With a more generic engineering degree u can still work in the oil industry when/if it revives. With a specialized PE degree your employment options are limited.