—The work is a study of the geologic structure and hydrocarbon generation potential of Devonian terrigenous strata in the Perm Territory. Prediction for new oil fields is made using quantitative criteria for determining the scale of oil generation by the petroleum source rocks of this petroleum system and the scale of the oil migration. An integrated approach is used, which makes it possible to follow all stages of petroleum generation in the Devonian terrigenous strata. The above petroleum system is the most buried of all commercial ones in the region; it has an intricate geologic structure and is less drilled than others but is considered to be promising for oil resource enhancement. Therefore, a comprehensive assessment with regard to both quantitative criteria and genetic parameters is a necessary step in the future planning of geological surveys. The results obtained during this work point to a low hydrocarbon generation potential of the Devonian terrigenous strata within the study area. This research has first established no genetic relationship between the oils and the organic matter of the Devonian terrigenous strata but has revealed a genetic relationship between these oils and the oils and organic matter of the Upper Devonian–Tournaisian petroleum system. It is shown that oil fields where oil deposits are present in Devonian terrigenous strata usually have reservoirs in the overlying Upper Devonian–Tournaisian petroleum system as well. This phenomenon is most often observed on the flanks of the Kama–Kinel’ depression system. The development of oil fields there gives a high chance of discovering new oil deposits. Taking into account the new data, it is necessary to revise the search criteria and perform geological surveys in the Devonian terrigenous strata, primarily in the areas of explored oil fields where oil is localized in the Upper Devonian–Tournaisian petroleum system.