An integrated workflow is proposed for estimating elastic parameters within the Late Triassic Skagerrak Formation, the Middle Jurassic Sleipner and Hugin Formations, the Paleocene Heimdal Formation and Eocene Grid Formation in the Utsira High area of the Norwegian North Sea. The proposed workflow begins with petrophysical analysis carried out at the available wells. Next, model-based prestack simultaneous impedance inversion outputs were derived, and attempts were made to estimate the petrophysical parameters (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 employed for defining different facies in the intervals of interest.