For a long time, shale gas development depends on hydraulic fracturing. In the development of the F shale gas field, in order to study the actual development of each fracturing stage and to provide the basis for the subsequent large-scale commercial development, Well JY9-2HF was selected for a development test of time-segmented fracturing and refracturing treatments. This study analyzed and evaluated the development process: this well development process can be divided into three phases. The first phase: time-segmented fracturing and development for Stages 1–2, 3–4 and 5–6 and co-development for Stages 1–6; the second phase: Stages 1–6 were developed once more after the refracturing; the third phase: fracturing and development of Stages 7–19. Furthermore, the pressure build-up tests were carried out during the development of Stages 1–2 and 3–4, and the gas production profile logging and microseismic monitoring were performed during the co-development of Stages 1–6. After analyzing the whole development test of the well, it is concluded that the combination of time-segmented fracturing and refracturing treatments can develop each fracturing stage more effectively. The pressure build-up test can obtain the reservoir parameters of the successfully-developed shale gas wells effectively. The use of gas production profile logging can analyze the degree of initial fracturing transformation, and combined with the remaining gas content in old shale gas wells, it can determine whether these old wells have the potential for refracturing.