[1] The formation consists of coal with carbonaceous shale, brown to buff sandstone, and conglomerate (usually at the base).

[5] Because the Raton Formation is a well-preserved sequence of rocks spanning the Cretaceous-Paleogene boundary, it has been studied for evidence of a large meteor impact at the end of the Cretaceous that is thought to have caused the Cretaceous–Paleogene extinction event.

The boundary is represented by a 1-cm thick tonstein clay layer which has been found to contain anomalously high concentrations of iridium.

[6] The boundary clay layer is accessible to the public at Trinidad Lake State Park, among other places in the Raton Basin.

The formation contains fossils of the green algae Pediastrum and Scenedesmus characteristic of a freshwater lake or pond environment.