Abstarct: In carbonate reservoirs, fractures are among the most important factors controlling porosity, permeability, fluid-flow pathways, and the production behavior of the reservoir. Accurate identification of the geometric and spatial characteristics of fractures, particularly in zones susceptible to drilling fluid loss, plays an important role in reducing drilling risks and improving reservoir management. In this study, the fractures present in a carbonate reservoir were investigated using FMI image logs, petrophysical data, core information, and drilling data. After preparation and processing in Geolog software, the image data were analyzed in terms of fracture type, dip, strike, orientation, and density, and the obtained results were integrated with petrophysical logs and geomechanical indices. In this study, static and dynamic images, dip data, accelerometer quality-control plots, texture-analysis indices, and sonic logs were used to evaluate the structural and mechanical condition of the formation. The results indicate that intervals characterized by a high density of discontinuities, noticeable textural variations, localized borehole enlargement, and changes in elastic parameters can be interpreted as fractured zones susceptible to drilling fluid loss. Furthermore, the analysis of natural and induced fractures provides the possibility of investigating the orientation of horizontal stresses and evaluating their role in fracture opening and fluid conduction. Accordingly, the integration of FMI data with petrophysical and geomechanical data is considered an effective approach for identifying high-risk zones in terms of fluid loss, improving structural–reservoir modeling, and supporting decision-making in drilling operations and reservoir development.