Two of the needed elastic parameters for predicting velocities in porous, fluid-filled rocks, the bulk modulus of the empty, porous rock and the shear modulus of the rock, are very difficult to obtain in situ. A novel modeling approach is developed by inverting the Biot-Geertsma-Gassmann (BGG) and shear-wave equations to generate values for the bulk and shear moduli, respectively, by using available velocity and porosity data obtained from borehole logs and/or cores from water/brine-saturated rocks. These values of bulk and shear moduli, along with reasonable in-situ estimates of rock-matrix and fluid parameters generated from the Batzle-Wang formulation, are then used to predict compressional and shear-wave velocities, compressional-shear wave ratios, and reflection coefficients at the interfaces between host rocks and fluid-saturated rocks, either fully or partially saturated with hydrocarbons or water, as a function of depth and/or porosity. ©2000 American Institute of Physics.