Estimation of rock properties from seismic data is important for exploration and production activities in the petroleum industry. Considering the compressional velocity—the speed of propagating body waves in formations—and the quality factor (Q)—a measure of the frequency-selective energy losses of waves propagating through formations—both properties are usually estimated from multichannel seismic data. Velocity is estimated during multichannel processing of seismic reflection data in either the time or depth domain. In marine seismic acquisition, Q can be estimated from the following sources: Vertical Seismic Profile (VSP) surveys, where sources are located near the sea surface and geophones are distributed at depth along a borehole; and multichannel reflection data, where sources are also located near the sea surface and receivers are distributed either at the sea surface (conventional seismic survey with streamers) or on the sea floor (use of nodes or Ocean Bottom Cables (OBC)). The aforementioned acquisition devices, VSP, conventional streamers, nodes, and OBCs are much more expensive than single-channel acquisition with one receiver per shot due to the cost of operation. There are numerous old and new datasets from academia and the oil industry that have been acquired with single-channel acquisition devices. However, there is a paucity of work addressing the estimation of velocity and Q from this type of equipment. We investigate the estimation of Q and velocity from single-channel seismic data. Using the windowed discrete Fourier transform for a single seismic trace, we calculate the peak and dominant frequency that changes with time. In the geologic environment, higher frequencies are attenuated at shallow depths (time), while lower frequencies remain at deeper positions. From the rate at which higher frequencies are attenuated with time, we estimate the effective quality factor (Qeff). However, when using Kirchhoff migration to process single-channel seismic data, events far from the vertical projection of the receiver contribute to the trace at a given time. Then, an underestimation of the effective quality factor occurs. To compensate for the effects of more distant events with lower-frequency content contaminating the shorter events, we propose a linear equation to correct the effective quality factor estimated from migrated seismic data. Effective Q and its correction are estimated in five single-channel seismic lines surveyed along the Joetsu Knoll, a SW-NE anticline structure on the eastern margin of the Sea of Japan. These results are linked to geomorphological and geological features and the velocity field. Joetsu Knoll is a known site of massive gas hydrates (GH), which occur in the first hundred metres of Neogene sediments and, together with gas chimneys, play an important role in seismic wave absorption. Qeff estimated from migrated seismic data maintains the spatial relationship between high and low Q regions. The region of low Q, which is below 124 and has an average value of 57, occurs near the anticlinal hinge and tends to coincide with the region in which the Bottom Simulating Reflector (BSR) resides. The coexistence of GH and free gas coincides with the very low P velocity gradient of 0.225 s−1. BSR occurrence, Qeff and the geometry of the Joetsu anticline testify to progressive gas hydrate depletion northward along the dome.