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Two seismic surveys acquired over South Timbalier Block 295 field (offshore Louisiana) record significant differences in amplitude that are correlated to hydrocarbon production at multiple reservoir levels. The K8 sand, a solution‐gas‐drive reservoir, shows increases in seismic amplitude associated with gas exsolution. The K40 sand, a water‐drive reservoir, shows decreases in seismic amplitude associated with increases in water saturation. A methodology is presented to optimize the correlation between two seismic surveys after they have been individually processed (poststack) This methodology includes rebinning, crosscorrelation, band‐pass filtering, and cross‐equalization. A statistical approach is developed to characterize the correlation between the seismic surveys. This statistical analysis is used to discriminate seismic amplitude differences that record change in rock and fluid properties from those that could be the result of miscorrelation of the seismic data. Time‐lapse seismic analysis provides an important new approach to imaging hydrocarbon production; it may be used to improve reservoir characterization and guide production decisions.