The recent discovery of the Anyue gas field, with huge reserves, has great potential for ultradeep gas production in carbonate reservoirs. Previous exploration and exploitation of Member IV of the Dengying Formation in the Gaoshiti–Moxi area deposited during the Late Ediacaran have provided useful insight into palaeo‐gas reservoirs, and geological significance of the Precambrian microbial carbonate strata. In this study, the depositional sequence architecture has been established and typical environments from Member IV of the Dengying Formation in the Gaoshiti–Moxi area have been reconstructed through detailed sedimentological analysis of cores, petrophysical data, well‐logging data and seismic interpretation. One third‐order sequence was identified, which is subdivided into seven fourth‐order sequences and 18–19 fifth‐order sequences. The third‐order sequence is bounded by denudation surfaces or onlap surfaces, and composed of transgressive system tracts and highstand system tracts. The fourth‐order sequences are bounded by instantaneously exposed punctuated surfaces or lithology and lithofacies transition surfaces, featured by specific lithological cycles, such as ‘lower microcrystalline dolomite, middle intraclastic dolomite and sparry thrombolite, and upper intraclastic dolomite’, ‘middle–lower sparry thrombolite and upper microcrystalline dolomite and sparry thrombolite’, ‘lower micritic thrombolite, middle micritic dolomite, and upper sparry thrombolite and laminites’, and ‘lower microcrystalline dolomite, middle intraclastic dolomite and argillaceous or micritic dolomite, and upper intraclastic dolomite’. The sequence characteristics reveal that periodic high‐frequency sea‐level change and palaeogeomorphology are controlling factors affecting sequence development, which lay a significant foundation for reservoir development. During the depositional period, a tidal flat on a restricted carbonate platform is well‐developed, allowing the identification of 16 microfacies, 13 microfacies associations, and 6 seismic facies. Inter‐lower tidal flats are widely developed with band‐shaped mound–bank complex, microbial mound, and shoal on the platform margin. On the inner platform, patchy microbial mounds, mound–flat combinations, and inter‐shoal/microbial mounds are developed in the Gaoshiti area, whereas patchy shoals and shoal–flat combinations are developed in the Moxi area. During the early depositional period of Member IV of the Dengying Formation, the microbial mounds and shoals were developed on the platform margin. The dolomitic flat and inter‐shoal/microbial mounds are mainly developed on the inner platform with little microbial mound and shoal deposition. During the late depositional period of Member IV of the Dengying Formation, large‐scale microbial mounds and shoals are sustainably and stably developed on the platform margin; enlarged dolomitic flat, patchy microbial mounds, and patchy shoals are predominantly developed in the platform interior with inter‐shoal/microbial mounds dying out.
