The interaction between drilling fluid and shale has a significant impact on wellbore stability during shale oil and gas drilling operations. This paper investigates the effects of the drilling fluid activity on the surface and osmotic hydration characteristics of shale. Experiments were conducted to measure the influence of drilling fluid activity on surface wettability by monitoring the evolution of fluid-shale contact angles. The relationship between drilling fluid activity and shale swelling ratio was determined to investigate the osmotic hydration behavior. The results indicate that, with increasing drilling fluid activity, the fluid–shale contact angles gradually increase—the higher the activity, the faster the adsorption rate; and the stronger the inhibition ability, the weaker the surface hydration action. The surface adsorption rate of the shale with a KCl drilling fluid was found to be the highest. Regarding the osmotic hydration action on the shale, the negative extreme swelling ratio (b) of the shale was found to be: b_KCl < b_CTAB < b_SDBS. Moreover, based on the relationship between the shale swelling ratio and drilling fluid activity, shale hydration can be divided into complete dehydration, weak dehydration, surface hydration, and osmotic hydration, which contributes to the choice of drilling fluids to improve wellbore stability.

The marine shale in the Lower Cambrian Niutitang Formation is the dominant shale-gas reservoir in northwestern Hunan, which accounts for more than 70% of unconventional energy in Hunan province. Accurately evaluating the shale-gas exploitation potential is a key to determining whether commercial exploitation standards can be met. In the literature, most existing studies have focused on evaluating the shale-gas exploitation potential based on either accumulation conditions or the shale fracability, which will lead to a gap between the real production and proven gas reserves due to the characteristics of the shale’s low permeability and low porosity. Therefore, further studies are needed to evaluate the effective shale-gas exploitation potential. To address this need, the outcrop shale samples in the Niutitang Formation were collected from the target regions, and the geological characteristics, mechanics behavior, and microstructure performance were discussed via both field data and laboratory tests. The results revealed that the shale-gas exploitation potential in the Niutitang Formation was indicated to be comparable to that of five validated shale-gas exploitation regions in the United States. To further illustrate the effective shale-gas exploitation potential, this study suggested using a comprehensive evaluation framework for this purpose, in which both accumulation condition and the shale fracability are simultaneously considered. Therefore, the shale gas reservoir in the Niutitang Formation has highly effective shale-gas exploitation potential by considering both the accumulation conditions and the shale fracability.