with geologically-plausible shapes, and provides a clear quantification of uncertainty to assess risk. Highly detailed petrophysical models are generated, ready for input to reservoir-flow simulation. Geostatistics differs from statistics in that it recognizes that only certain outcomes are geologically plausible. Geostatistical inversion integrates data from many sources and creates models that have greater resolution than the original seismic, match known geological patterns, and can be used for risk assessment and reduction. Seismic, well logs and other input data are each represented as a probability density function (PDF), which provides a geostatistical description based on histograms and variograms. Together these define the chances of a particular value at a particular location, and the expected geological scale and composition throughout the modeled area. Unlike conventional inversion and geomodeling algorithms, geostatistical inversion takes a one-step approach, solving for impedance and discrete property types or lithofacies at the same time. Taking this approach speeds the process and improves accuracy. Individual PDFs are merged using bayesian inference techniques, resulting in a posterior PDF conditioned to the whole data set. The algorithm determines the weighting of each data source, eliminating potential bias. The posterior PDF is then input to a Markov chain Monte Carlo algorithm to generate realistic models of impedance and lithofacies, which are then used to co-simulate rock properties such as porosity. These processes are typically iterated until a model emerges that matches all information. Even with the best model, some uncertainty remains. Uncertainty can be estimated using random seeds to generate a range of realizations. This is especially useful when dealing with parameters that are sensitive to change; an analysis of this sort enables greater understanding of development risk. Pre-stack log-detail inversion Amplitude versus offset (AVO) (AVA) geostatistical inversion incorporates simultaneous AVO (AVA) inversion into the geostatistical inversion algorithm so high resolution, geostatistics, and AVO may be attained in a single method. The output model (realizations) are consistent with well log information, AVO seismic data, and honor rock property relationships found in the wells. The algorithm also simultaneously produces elastic properties (P-impedance, S-impedance and density) and lithology volumes, instead of sequentially solving for lithology first and then populating the cell with impedance and density values. Because all output models match all input data, uncertainty can be quantitatively assessed to determine the range of reservoir possibilities within the constraining data. AVA geostatistical inversion software uses leading-edge geostatistical techniques, including Markov chain Monte Carlo (MCMC)