Modern electronic remote sensing technology is an advanced and effective high-tech means of obtaining information on earth’s resources and environment at low cost, which provides a practical and effective method for oil and gas exploration. Based on the hyperspectral remote sensing technology in modern electronic technology, the article analyzes the specific process of applying it to oil and gas exploration and combs through the spectral characteristics of hydrocarbon microleakage based on oil and gas microleakage. To prevent the “dimensionality disaster” of Hyperion remote sensing data, principal component analysis is introduced to downsize the remote sensing data, and the PCA-CWT algorithm is combined with the continuous wavelet transform to extract hydrocarbon features. Based on Hyperion remote sensing data, hydrocarbon microseepage deciphering was carried out, and strange information from hyperspectral remote sensing geological data was also analyzed. The clay alteration anomaly information has obvious absorption bands between [220nm and 2450nm], the spectral absorption ranges of iron oxide and ferrous oxide minerals are mainly around 750nm and 1250nm, and the absorption bands of carbonate minerals are concentrated in the intervals of 2350nm and 2500~2750nm. Based on modern electronic remote sensing technology can realize the precise positioning of oil and gas reservoir areas, and different spectral features express the alteration of oil and gas minerals, which provides reliable support for recognizing the accurate development and utilization of oil and gas reservoir areas.