The multilayer development of coalbed methane (CBM) is affected by many factors, and the gas production contribution of each seam is unclear. In this study, 12 geological and 10 engineering parameters were adopted to reveal the key factors affecting the combined-layer drainage productivity of CBM wells before using numerical simulation to clarify the contribution of each coal seam. The results show that the coal reservoir in the Laochang mining area exhibited the advantages of high gas content, intact coal body structure, and large thickness of the combined coal seams, and it was deficient with low saturation and ratio of critical desorption pressure to reservoir pressure. The medium permeability after fracturing and the influence of a small range of fracturing leads to the steep and deep pressure drop funnel of the coal reservoir, and most of the reservoir pressure drop is ineffective; this may be the reason for the unstable production and rapid attenuation of most CBM wells in the study area. The gas production of the Nos. 13 and 18 coal seams is stable and makes a significant contribution, and they can be used as the key objects of follow-up CBM exploration and development in this area. Geological factors, such as coal body structure, ratio of critical desorption pressure to reservoir pressure, thickness of combined coal seams, and gas saturation, as well as engineering factors, such as permeability and half length of fractures after fracturing, are the main factors affecting the productivity of the CBM wells in the Laochang mining area.