The geological and geochemical research results indicate that fault activities of Shengbei fault zone in Dongying Sag have an important effect on oil & gas migration and accumulation of Sha-2 Member of the Shahejie Formation. Oil and gas generated from the source rocks in the lower part of Sha-3 Member of the Shahejie Formation and the upper part of Sha-4 Member of the Shahejie Formation migrate vertically into Sha-2 Member of the Shahejie Formation along Tuo 94 fault and the north-south fault independently during the fault activities, and then migrate laterally in Sha-2 Member of the Shahejie Formation and accumulate in the saddle of Shenglicun anticline and Tuozhuang anticline.