In recent years, the southern margin of Junggar Basin has successively made major exploration discoveries in deep oil and gas reservoirs. There are different types and degrees of drilling engineering risks in the implementation process of drilling. Aiming at the risk of drilling engineering in the southern margin, it is necessary to carry out drilling well history analysis and wellbore mechanical simulation, establish the risk-sensitive geological factors of drilling engineering and form the identification method of geological risk factors. Using the response characteristics of formation acoustic wave and density logging to analyze the causes of abnormal pressure and construct formation factors. Combined with the above, a model for calculating the equivalent density of formation pressure by using acoustic wave and density is formed. The absolute value of absolute error calculated by this model is less than 0.1g/cm3, the absolute value of relative error is less than 5.5%, and the average value is 2.4%. The enterprise standard of drilling engineering in southern margin was formed. After promoting the application of the standard, the proportion of complicated drilling time was decreased from 33.6% to 15.1%, the optimal and fast drilling and completion of complex ultra-deep wells in the southern margin of Junggar Basin is ensured, and the purpose of reducing cost and increasing efficiency has been achieved.