1. A computer implemented method of processing seismic data obtained in the form of seismic traces from a reflection seismic survey of subsurface portions of the earth for analysis of subsurface features of interest, the computer implemented method comprising the computer implemented processing steps of: forming a wavelet from the seismic survey data; resolving a time of occurrence of maximum energy in the wavelet from the seismic survey data; forming a normalized amplitude of energy for the wavelet from traces in the seismic survey data; forming a composite trace at the resolved time of occurrence and normalized amplitude from an ensemble of the traces in the seismic survey data; applying a time filter to the wavelet based on the composite trace to form a resultant deconvolution wavelet having a main frequency in the seismic frequency band; performing a deconvolution operation on the seismic traces by applying the resultant deconvolution wavelet to the seismic data for analysis of subsurface features of interest; migration processing the seismic data, after the step of performing a deconvolution operation on the seismic traces, to move reflections in the data to their correct spatial locations; and forming displays of the migrated seismic data for analysis of subsurface features of interest.