Hydrothermal activity is prevalent in petroliferous basins, particularly in fractured reservoirs. Hydrothermal fluids enter the reservoirs and cause significant fluid–rock interaction, which ultimately controls reservoir development. The Mahu Sag in western China is a hydrocarbon-rich region where hydrothermal fluids and faults control the reservoirs, making it challenging to understand the development mechanism of the shale reservoirs. This study focused on the Fengcheng Formation in the Mahu Sag. Based on a range of previous lithological test results, numerical models of hydrothermal fluid charging were established to explore differences in fluid–rock interactions under varying temperature, fluid, and flow rates. Results revealed that within a specific range, increasing temperature and Mg2+ concentration promoted hydrothermal processes. The hydrothermal flow rate influenced ion accumulation on the fluid-rock contact surface, thus controlling mineral dissolution rates. In a certain range, when the flow rate is increased by 3 times, the growth rate of dolomite content is increased by more than 15 times. Hydrothermal fluid flowing near the fault underwent chemical action more readily than in other areas. The influence of hydrothermal fluid and fault on reservoir development was both constructive and destructive. The decrease and increase of porosity are 30 % and 25 %, respectively. This study could provide a theoretical basis for identifying factors influencing shale reservoir development.