Shale gas is a resource of emerging importance in the energy field. Many countries in the world have been making big financial investments in this area. Carboniferous shale in the eastern Qaidam Basin shows good exploration prospects, but limited research and exploration work for shale oil and gas resources has been undertaken. Geochemical analyses were performed on shale derived from the Upper Carboniferous Hurleg Formation in the eastern Qaidam Basin, Qinghai Province, and secondary electron imaging capability of a Field Emission scanning electron microscope (FE-SEM) was used to characterize the microstructure of the shale. The reservoir and exploitation potential of the studied shale was assessed by comparison with research results obtained from the Barnett Formation shale in Fort Worth Basin, North America and the Basin shale of Sichuan province. The results indicate that the eastern Qaidam Basin Carboniferous shale is high-quality source rock. There are four major microstructural types in the study area: matrix intergranular pores, dissolution pores, intergranular pores, and micro-fractures. The size of the micropores varies from 6–633 nm, the majority of which is between 39–200 nm, with a relatively small number of micro-scale pores ranging from 0.13–1 μm. The pore characteristics of the studied shales are similar to the North American and Sichuanese shales, indicating that they have good reservoir potential. No micropores are present in the organic matter, which is induced by its composition; instead we found an important lamellar structure in the organic matter. These micropores and microfractures are abundant, and are connected to natural visible cracks that form the network pore system, which controls the storage and migration of shale gas. This connectivity is favorable for shale gas exploitation, providing great scientific potential and practical value.