Drilling out each horizon and then logging and casing off same has advantages and disadvantages. If final hole ends up being 6 or 6-1/2" hole there are risks associated with running wireline in a slimhole and also you need extra LWD tools for the smaller hole (not always available cf to the larger OD tools). I've nearly always had hole issues when running MDTs in slimhole....its a fat tool and you just have so much less annulus to play with.
Carrying out a "chicken run" with wireline and then drilling ahead in same size hole.....there's the risk of the logged section of hole being left open for a much longer period than the lower section.
As noted previously each plan needs to be carefully risked out.
Re correlating seismic...normally you'd need to penetrate each horizon to tie in geology with with seismic. Ideally you'd then also run a borehole VSP/checkshot survey to get accurate tie ins.
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