The stability of the drilled wellbores in carbonate formations is of great importance. This paper is a new approach to determine the elastic properties of the wellbore based on rock physics methods using the Hashin-Shtrikman bounds to determine the wellbore stability. Initially, the static elastic parameters were determined by two different methods, namely the rock physics method and DSI log, followed by clustering through Multi-Resolutional Graph-Based clustering (MRGC) and calculating geomechanical-units (GMUs) of each method separately. The obtained results from DSI log and rock physic methods were then compared followed by determining the wellbore stability. The results showed that the correlation between shear and compressional wave velocity obtained from the petrophysical method with the measured values of shear and pressure wave velocity in the well was 0.94 and 0.90, respectively, which shows that the petrophysical method can estimate these two logs with high accuracy, and it can be a suitable alternative instead of using the Dipole Shear Sonic Imager (DSI). It was observed that the geomechanical units of elastic parameters calculated by proposed rock physics method are in good agreement with those obtained from DSI log. Rock-physic method can be a good alternative for when expensive DSI logs are missing.