Petro physical parameters from hydrocarbon producing wells have been derived and interpreted to predict the production capacity and performance of the wells. Porosity, permeability, water saturation, reservoir thickness and shale volume were the reservoirs parameters calculated for each hydrocarbon bearing zone delineated from the two wells (W1 and W2) in the Niger Delta oil field. Twelve reservoirs were delineated, correlated and ranked using average results of the derived petrophysical parameters. The averages of estimated petrophysical properties were found to be 20.14% porosity, 1643.65mD permeability and 63.20% hydrocarbon saturation for W1 and 15.55% porosity, 1582.58mD permeability and 61.93% hydrocarbon saturation for W2. Recoverable oil reserve was 148.45MMBB for W1 and 145.91MMBB for W2. From these results, it was deduced that W1 would be more productive than W2 in terms of oil accumulation.