Abstract The most prolific reservoir package in the SW Barents Sea is currently the Upper Triassic–Middle Jurassic Realgrunnen Subgroup, comprising the main hydrocarbon accumulations in the Goliat, Snøhvit and Johan Castberg fields and the Wisting discovery. The interval continues to be the main target as hydrocarbon exploration ventures further into this region. However, the package varies considerably in thickness and reservoir quality throughout the basin, and it is therefore very important to understand how this package developed and what has affected it in the time since it was deposited. Here we review controls on the tectonostratigraphic evolution and facies distribution within the Realgrunnen Subgroup, and exemplify the variability in reservoir characteristics within the subgroup by comparing some key wells in relation to their depositional environment and provenance. New provenance data that record a turnover from reworked Triassic- to Caledonian-sourced mature sediment support facies observations which suggest temporal changes in the depositional environment from marine to fluvial. Much of the variability within the subgroup is attributed the tectonostratigraphic development of the basin that controlled accommodation, facies transitions and sediment distribution. This variability is reflected in subtle differences in reservoir quality important both for exploration and production in the remaining underexplored basin.