The Cameros Basin (North Spain) is a Late Jurassic‐Early Cretaceous extensional basin, which was inverted during the Cenozoic. It underwent a remarkable thermal evolution, as indicated by the record of anomalous high temperatures in its deposits. In this study, the subsidence and thermal history of the basin is reconstructed, using subsidence analysis and 2D thermal modelling. Tectonic subsidence curves provide evidence of the occurrence of two rapid subsidence phases during the syn‐extensional stage. In the first phase (Tithonian‐Early Berriasian), the largest accommodation space was formed in the central sector of the basin, whereas in the second (Early Barremian‐Early Albian), it was formed in the northern sector. These rapid subsidence phases could correspond to relevant tectonic events affecting the Iberian Plate at that time. By distinguishing between the initial and thermal subsidence and defining their relative magnitudes, Royden's (1986) method was used to estimate the heat flow at the end of the extensional stage. A maximum heat flow of 60–65 mW/m² is estimated, implying only a minor thermal disturbance associated with extension. In contrast with these data, very high vitrinite reflectance, anomalously distributed in some case with respect to the typical depth‐vitrinite reflectance relation, was measured in the central‐northern sector of the basin. Burial and thermal data are used to construct a 2D thermal basin model, to elucidate the role of the processes involved in sediment heating. Calibration of the thermal model with the vitrinite reflectance (%Ro) and fluid inclusion (FI) data indicates that in the central and northern sectors of the basin, an extra heat source, other than a typical rift, is required to explain the observed thermal anomalies. The distribution of the %Ro and FI values in these sectors suggests that the high temperatures and their distribution are related to the circulation of hot fluids. Hot fluids were attributed to the hydrothermal metamorphic events affecting the area during the early post‐extensional and inversion stages of the basin.

The use of mineral diagenetic indices and organic matter maturity is useful for reconstructing the evolution of sedimentary basins and critical assessments for potential source rocks for petroleum exploration. In this study, the relationship of clay mineral diagenesis and organic matter thermal indices (Rock-Eval Tmax) and calculated vitrinite reflectance (%R_o) were used to constrain the maximum burial depths and temperatures of three distinct intervals within the northern Permian Basin, USA. X-ray diffraction of clay fractions (<2 µm) consists of illite, chlorite, and illite-smectite intermediates. Primary clay mineral diagenetic changes progressively increase in ordering from R0 to R1 I-S between 2359.5 and 2485.9 m and the appearance of chlorite at 2338.7 m. Rock-Eval pyrolysis data show 0 to 14 wt% TOC, HI values of 40 to 520 mgHC/g TOC, and S2 values of 0 to 62 mg HC/g, with primarily type II kerogen with calculated %R_o within the early to peak oil maturation window. Evaluation of the potential for oil generation is relatively good throughout the Tonya 401 and JP Chilton wells. Organic maturation indices (Tmax, %R_o) and peak burial temperatures correlate well with clay mineral diagenesis (R0–R1 I-S), indicating that maximum burial depths and temperatures were between 2.5 and 4 km and <100 °C and 140 °C, respectively. Additionally, the use of clay mineral-derived temperatures provides insight into discrepancies between several calculated %R_o equations and thus should be further investigated for use in the Permian Basin. Accordingly, these findings show that clay mineral diagenesis, combined with other paleothermal proxies, can considerably improve the understanding of the complex burial history of the Permian Basin in the context of the evolution of the southern margin of Laurentia.