A method, apparatus, and article of manufacture are provided that use measurement data to create a model of a subsurface area. The method includes creating an initial parameterized model having an initial estimate of model parameter uncertainties; considering measurement data from the subsurface area; updating the model and its associated uncertainty estimate; and repeating the considering and updating steps with additional measurement data. A computer-based apparatus and article of manufacture for implementing the method are also disclosed. The method, apparatus, and article of manufacture are particularly useful in assisting oil companies in making hydrocarbon reservoir data acquisition, drilling and field development decisions.