A review of recent Triassic research across the Southern Permian Basin area demonstrates the role that high-resolution stratigraphic correlation has in identifying the main controls on sedimentary facies and, subsequently, the distribution of hydrocarbon reservoirs. The depositional and structural evolution of these sedimentary successions was the product of polyphase rifting controlled by antecedent structuration and halokinesis, fluctuating climate, and repeated marine flooding, leading to a wide range of reservoir types in a variety of structural configurations. Triassic hydrocarbon accumulations form an important energy resource across the basin, not only in the established Buntsandstein fairway but also in Rogenstein oolites and Muschelkalk carbonates. In addition, sand-prone sections in the Late Triassic, such as the Schilfsandstein, have the potential to be hydrocarbon reservoirs. Several Triassic intervals are now the focus for developing geothermal projects. A detailed understanding of Triassic reservoir quality and distribution is one of the main keys to efficiently unlocking the geothermal and remaining hydrocarbon potential across the basin.