Increasing demands in world-wide energy consumption and oil depletion of large reservoirs have resulted in the need for exploring smaller and more complex oil reservoirs. Planning of the reservoir valorization usually starts with creating a model of the subsurface structures, including seismic faults and horizons. However, seismic interpretation and horizon tracing is a difficult and error-prone task, often resulting in hours of work needing to be manually repeated. In this paper, we propose a novel, interactive workflow for horizon interpretation based on well positions, which include additional geological and geophysical data captured by actual drillings. Instead of interpreting the volume slice-by-slice in 2D, we propose 3D seismic interpretation based on well positions. We introduce a combination of 2D and 3D minimal cost path and minimal cost surface tracing for extracting horizons with very little user input. By processing the volume based on well positions rather than slice-based, we are able to create a piecewise optimal horizon surface at interactive rates. We have integrated our system into a visual analysis platform which supports multiple linked views for fast verification, exploration and analysis of the extracted horizons. The system is currently being evaluated by our collaborating domain experts.