Although conventional reservoirs dominate the Bohai Basin, China, a new type of sandstone reservoir also exists in the Dongpu depression that has a low matrix porosity (tight) in which natural fractures govern both permeability and porosity. These fractured sandstones are located on a structurally modified buried hill underlying Paleogene mudstones, and are truncated along an angular unconformity. The fractured sandstone oils of the Triassic Liujiagou, Heshanggou, and Ermaying Formations are derived from the Paleogene Shahejie Formation, which reached peak oil generation and expulsion during the Oligocene to early Miocene (32.8–15.6 Ma). Gas was generated primarily during the Paleogene from Carboniferous and Permian coals. Petrographic evidence suggests that oil and gas emplacement followed the compaction and cementation of the Triassic sandstone reservoirs. Fluid inclusion evidence and burial history analysis suggest that fractures developed before oil emplacement but may have coincided with peak gas generation, which suggests that oil and gas mainly migrated and accumulated in fractures.