The Carboniferous rock samples of the Limburg Group formations were studied to investigate the source rock characteristics and the hydrocarbon generative potential. The source rock samples have been collected representing four rock units from three different wells. These samples were analyzed using Rock-Eval pyrolysis results and measured vitrinite reflectance values, and also by generating a one-dimensional basin model of K1 Field. The total organic carbon in these samples varies from 0.31 to 83.56% with a mean of 37.68%, suggesting that Limburg Group formations have excellent potential as a source of hydrocarbons. Kerogen in the Limburg Group formations is type II-III and type III, generate gas prominently. The outcomes of thermal maturation by Tmax and measured vitrinite reflectance reveal that the examined Limburg source rocks are located in the mature zone. The burial and thermal history models show irregular trend patterns due to uplift, erosion, and non-deposition events that took place in the K1 field (where the structural element is Cleaver Bank High). For the Maurits Formation, the oil generation took place at 2011 m at 230.1Ma ago and the top of the gas window was encountered 217.8Ma ago at 2535 m, whereas for the Hospital Ground Formation, the top of the oil window was encountered 186.8Ma ago at 2404 m and the gas generation took place at 2404 m at 161.9Ma ago.