Widespread rhythmic intercalation of a millimeter- to meter-scale hydrocarbon source rock (organic-rich shale and marlstone) and a carbonate reservoir (micritic and peloidal dolostone) are unusual. Here, the case of the Irati Formation (Paraná Basin) is reported, in which source rock strata have high total organic carbon (averaging 10 to 20 wt%), with dominance of highly oil-prone kerogen type I and II. Multivariate statistical analyses were applied to find patterns in the geochemical multivariate data set. The data points to three main productive sectors in the basin: Paraná Sector, Santa Catarina Sector, and Rio Grande do Sul Sector. Quality, quantity, and petroleum potential vary both laterally and vertically. On the other hand, the reservoir carbonate beds are predominantly composed of low-primary pore space, in which the effective reservoir capacity is determined by the presence of postdepositional secondary porosity. In addition, the Paraná-Etendeka magmatism, which occurred during the break-up of the Atlantic Ocean, played an important role in thermal maturation and primary oil migration.
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