As an unconventional and hidden special oil reservoir, a low-resistance oil reservoir has huge exploration potential. The formation of low-resistance oil reservoirs in the study area is affected by multiple factors, and the electrical characteristics of low-resistance oil reservoirs are not obvious, which makes it difficult to accurately evaluate the oil- and gas-bearing nature of low-resistance reservoirs by traditional saturation evaluation methods. The water saturation evaluation has become the focus and difficulty of the logging interpretation of low-resistance oil reservoirs in the target blocks. Low-resistance oil reservoirs have various reservoir characteristics and genesis mechanisms. Based on this, this paper firstly analyzes the genesis mechanisms of low-resistance oil reservoirs by combining geological, core NMR, X-diffraction, and well logging data. Secondly, on the basis of clarifying the genesis mechanism and the main controlling factors of the low-resistance oil formation, the additional conductivity correction of clay is carried out by combining it with the petroelectricity experiment, and the petroelectricity parameters are determined. Finally, the saturation of the low-resistance oil formation in the study area is quantitatively evaluated using the Simandoux model. The results show that the high immobile water saturation caused by the complex pore structure and the additional electrical conductivity of clay are the main controlling causes of the low-resistance reservoirs in the study area. Compared with the saturation evaluation effect of the W-S model, the evaluation accuracy of the Simandoux model corrected for the additional electrical conductivity of clay is better than that of the W-S model, which is 0.88, the relative error of its computation is 7.2%, and the model constructed can provide quantitative bases for the dredging of the low-resistance reservoirs in the Bohai Basin.