Recently proposed peak-frequency method is used to estimate the P-and S-wave quality factors from microseismic events. We use a downhole monitoring dataset of 10 high signal-to-noise ratio microseismic events to calculate P-and S-wave effective attenuation of a carbonate reservoir. We benchmark these results with the spectral ratio method and obtain mutually consistent results. Additionally we develop and test two techniques of peak frequency determination. We show that the peak frequency method can be successfully used in the estimation of the quality factor and it provides precise measurements of attenuation.K e y w o r d s : attenuation, microseismicity, inversion, ray tracing