Abstract: One long-term stratigraphic base level circle(the 3rd sequence)LSC1 and the corresponding 3 middle- term stratigraphic base level circles(the 4th sequence) MSC1,MSC2 and MSC3 could be distinguished in the third segment of Shahejie Formation and the lower of the second segment of Shahejie Formation within the four se- quence boundaries in Dawangzhuang area,Raoyang sag by using the ways and principles of the high resolution se- quence stratigraphy.Within the correlation framework,it analyzed source rock,reservoir rock,cap rock,tap condi- tion,transport condition and their configuration.On the basis of comprehensive analyses on hydrocarbon accumu- lation conditions in the study area,MSC2 and MSC3 cy- cles are considered to be the most favorable segment of the reservoir rock,and the rock of the braided river delta and the carbonate bar are the targets of the oil exploration. North of the well L110 and the west of the well Lg1 are believed to be the most favorable regions for searching non structure petroleum reservoir.