This paper reports the preliminary research results of the geological conditions for the accumulation of the shale gas in the Middle Ordovician Pingliang Formation. The authors examine the petrological and mineralogical features, developmental scale, depth, geochemical indicators and parameters of the shale. Ula Lectra Group and the upper member of Pingliang Group can be classified as two lithological types according to their mineral assemblages: quartz + calcite + illite and quartz + calcite + illite + chlorite. Strata thicken gradually from east to west with the deepest part on thewestern margin and thin to the north and south and even outcrop in local areas. The type of organic matter is mainly Type Ⅰ, and few are Type Ⅱ1 and Type Ⅱ2. The horizontal distribution of organic carbon content shows a decrease trend from north to south from 1.4 to 0.2 %. The thermal evolution of organic matter is mostly in high-over mature stage, with Ro mainly in the range of 0.9%-2.1 %. The adsorbed gas is 1. 105 m3/t, indicating that the Pingliang Formation shale has good adsorption capacity. In summary, Pingliang Group has a further exploration potential for shale gas.