Abstract: Gudao oilfield is rich in medium and low temperature geothermal resources, and its rational exploitation and utilization is of great significance for the transformation from traditional fuels to new energy and for local economic development. On the basis of summarizing and analyzing previous exploration achievements, the authors found that Gudao oilfield was a high anomaly area of terrestrial heat flow, and that the average value of terrestrial heat flow was 72.62 mW/m². The authors focused on the geothermal geological conditions of Guantao Formation geothermal reservoir. The results show that the geothermal reservoir thickness in the lower member of Guantao Formation is 106~145 m, and the average porosity is about 30%. The temperature of geothermal reservoir is 75.5~82 ℃ and the water inflow of drawdown per unit is 3.71~10.55 m³/(h·m). These features make the geothermal reservoir of the lower member of Guantao Formation the favorable development target. Using geothermal reservoir method, the authors calculated the geothermal resource quantity in the geothermal reservoir of the lower member of Guantao Formation, which was 3.745×10¹⁸ J and equivalent to 1.28×10⁸ tons of standard coal. And the geothermal fluids storage capacity is about 60.87×10⁸ m³. Using mining intensity method, the authors estimated the recoverable quantity of geothermal fluids, which was 253×10⁴ m³/a and could support about 100 ×10⁴ m² heating area.