Common‐offset migration is extremely important in the context of migration velocity analysis (MVA) since it generates geologically interpretable migrated images. However, only a wave‐equation‐based migration handles multipathing of energy in contrast to the popular Kirchhoff migration with first‐arrival traveltimes. We have combined the superior treatment of multipathing of energy by wave‐equation‐based migration with the advantages of the common‐offset domain for MVA by implementing wave‐equation migration algorithms via the use of finite‐difference Green’s functions. With this technique, we are able to apply wave‐equation migration in measurement configurations that are usually considered to be of the realm of Kirchhoff migration. In particular, wave‐equation migration of common offset sections becomes feasible. The application of our wave‐equation, common‐offset migration algorithm to the Marmousi data set confirms the large increase in interpretability of individual migrated sections, for about twice the cost of standard wave‐equation common‐shot migration. Our implementation of wave‐equation migration via the Green’s functions is based on wavefield extrapolation via paraxial one‐way wave equations. For these equations, theoretical results allow us to perform exact inverse extrapolation of wavefields.