A method and system are provided for characterizing a reservoir of interest by comparing measured downhole fluid analysis measurement data with predicted downhole fluid analysis measurement data for the corresponding depth within the reservoir. The downhole fluid analysis measurement data may comprise the results of compositional analysis, gas-oil ratio measurements, and spectrophotometry measurements. The compositional analyses may be delumped to characterize the compositional components of the downhole fluid and equations of state may be used to predict compositional gradients and fluid properties with depth. The method and system enable the user to characterize a reservoir as to its states of compartmentalization and equilibrium.