We have developed an integrated workflow for estimating elastic parameters within the Late Triassic Skagerrak Formation, the Middle Jurassic Sleipner and Hugin Formations, the Paleocene Heimdal Formation, and the Eocene Grid Formation in the Utsira High area of the Norwegian North Sea. Our workflow begins with petrophysical analysis carried out at the available wells. Then, model-based prestack simultaneous impedance inversion outputs were derived, and attempts were made to estimate the petrophysical parameters (the volume of shale, porosity, and water saturation) from seismic data using extended elastic impedance. On not obtaining convincing results, we switched over to multiattribute regression analysis for estimating them, which yielded encouraging results. Finally, the Bayesian classification approach was used for defining different facies in the intervals of interest.