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Fracture orientation and time-delay are estimated by converted-wave splitting analysis through an algorithm based on the waveform similarity between fast and slow converted shear-waves, S1 and S2. Subsequently S1 and S2 are separated, and S2 is shifted and then rotated back together with S1 to get new radial and transverse components. Consequentially, the splitting effects are eliminated and much better stacking images of radial components are obtained. Synthetic results show good accuracy of the algorithm. A real data application also demonstrates high quality results.