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The research reported in this paper was supported by the King Abdullah University of Science and Technology (KAUST) in Thuwal, Saudi Arabia. We are grateful to the sponsors of the Center for Subsurface Imaging and Modeling (CSIM) Consortium for their financial support. For computer time, this research used the resources of the Supercomputing Laboratory at KAUST. We thank them for providing the computational resources required for carrying out this work. The authors would like to thank Statoil ASA and the Volve license partners ExxonMobil E&P Norway AS and Bayerngas Norge AS, for the release of the Volve data. The views expressed in this paper are the views of the authors and do not necessarily reflect the views of Statoil ASA and the Volve field license partners.