Abstract: Study of the unconventional oil and gas resources in Nanpu depression has been conducted with the geochemical, rock and mineral, well logging and mud logging data. It is concluded that volcano rocks and shales in Nanpu Sag are large in thickness, with high abundance of organic matter and good organic matter types, and wide range in maturity, which provided material basis for formation of oil gas reservoir. In addition, igneous rock pores or cracks and shale fractured well are well developed in this depression, with good reservoir properties, being favorable for oil and gas exploitation. Through oil production testing on volcano rocks and shales, 160 000 m³/d high yield of natural gas was obtained in Shahejie Fm volcano rock. Fracturing was conducted in shale of Sha-3 Member, with initial liquid production of 30 m³/d. At present, the daily liquid production is 5 m³/d, and daily oil production is 2 t/d, and the accumulative oil production is 500 t by now. The study results show that the unconventional oil and gas reservoirs has great potential in hydrocarbon exploration and development in Nanpu depression, with excellent prospects for hydrocarbon exploration and development.