Abstract: Raoyang Sag is one of the oil-enriched sags in Bohai Bay Basin. In Raoyang Sag, hydrogen-enriched shale is high-quality source rock, but it has been ignored. Using the successful exploration experience of Nanpu Oilfield for reference, the organic geochemistry features of hydrogen-enriched shale were analyzed. It is indicated that this type of source rocks mainly contributes to the large buried-hill oilfield in Renqiu area. The organic carbon content is over 3%. The pyrolysis hydrocarbon-generation potential is 24.89 mg/g averagely. The type of parent material is type Ⅱ1 with amorphous solid as dominant, and the major source rocks (Es₃) is at the stage of hydrocarbon-generation peak. The newly calculation of resource shows that the oil-generating amount is 28.61×10⁸t and accounts for 27% of total oil-generation amount in the sag. Thus remaining oil resource amount reaches 7.59×10⁸t in Raoyang Sag. The current exploration situation presents an optimistic prospect for oil and gas exploration.