Standardizing facies descriptions has proven key to integrating interpretations of depositional processes and environments from sedimentologic observations with geochemistry data for mudstone lithologies. Because of their fine-grained nature, high degree of compaction, and heterogeneous composition, standardizing methods for mudstone descriptions has proven difficult, but it is critical to formulating meaningful interpretations of the processes that govern the accumulation of organic-rich lithologies and their role in both petroleum systems and the global carbon cycle. In this study, we have developed a modified facies classification scheme for mudstone lithologies that incorporates sedimentologic and compositional observation at the hand-sample and thin-section scales with geochemical measurements, including bulk organic and inorganic geochemistry, to characterize these rocks and their variability more completely for improved interpretations of depositional environments during a low-order sea-level transgression. The facies described in this study are of the Cenomanian–Turonian Greenhorn Formation in the USGS #1 Portland Core drilled in Fremont County, Colorado. Strata of the Greenhorn Formation span Oceanic Anoxic Event 2 (OAE-2) and the preceding interval. Lithologies range from organic-rich argillaceous mudstones with varied sedimentary structures to organic-lean, highly bioturbated limestones. Six facies were identified, each differentiated by varied sedimentary structures and geochemical composition. These facies occur in a predictable stratigraphic stacking pattern that represents a low-order sea-level transgression with interpreted depositional environments ranging from terrigenous-dominated pro-delta and muddy continental shelf at the base of the interval to pelagic offshore marine at the top of the Greenhorn Formation. Though the facies are consistent with previous interpretations of depositional environments at this locale in the Cretaceous Western Interior Seaway during the Greenhorn cyclothem, the sedimentary processes governing the accumulation of organic-rich strata that have defined this interval are significantly revised. Variability in the proximity and intensity of bottom currents driven by storms and geostrophic flows were key to the accumulation of each facies, with significant sediment transport occurring even through deposition in the most oxygen-depleted bottom waters. The methodology and interpretations provided here are now being employed to basin-scale predictions of organic enrichment utilizing calibrated petrophysical methods. The approach and results from this study improve understanding of how organic and inorganic carbon was sequestered during perturbations to the global carbon cycle associated with events such as OAE-2.