(a) receiving, by a computer system, a first toolface value for a bottom hole assembly (BHA) located in a wellbore being drilled and a second toolface value for the BHA, wherein the second toolface value is received after a time interval;

(b) during the time interval, receiving, by the computer system, a hookload measurement of a drill string coupled to the BHA, wherein the drill string comprises a first drill string component, and a second drill string component and is coupled to a drilling rig;

(c) comparing, by the computer system, the hookload measurement to a static weight of the drill string in the vertical section of the wellbore to obtain a dynamic weight value, wherein the static weight excludes a surface equipment mass and is stored in a database;

(d) determining, by the computer system during a time period, a first elastic deformation value of the first drill string component of the drill string in the vertical section of the wellbore based at least on an average cross-section thereof and a plurality of mechanical properties of the drill string by accessing the database storing the average cross-section and the plurality of mechanical properties of the drill string based on the dynamic weight value;

(e) determining, by the computer system, a weight on bit value;

(f) determining, by the computer system during the time period, a second elastic deformation value of the second drill string component of the drill string in a horizontal section of the wellbore by accessing the database storing the average cross-section thereof and a plurality of mechanical properties of the drill string based on the weight on bit value;

(g) determining, by the computer system during the time period, a drill string length dynamic offset from a surface measured depth by combining the first elastic deformation value of the first drill string component and the second elastic deformation value of the second drill string component;

(h) determining, by the computer system, a corrected measured depth of the drill string length during the time period by applying the drill string length dynamic offset to the surface measured depth;

(i) automatically updating, by the computer system, an estimated position of the BHA based at least in part on the corrected measured depth and feedback information received by the computer system, the feedback information including at least the estimated position of the BHA during the time period; and

(j) sending, by the computer system, one or more commands to the drilling rig responsive to the updated estimated position of the BHA, the one or more commands instructing the drilling rig to adjust a drilling direction of the wellbore, based at least in part on the updated estimated position of the BHA;

and (k) drilling the wellbore in the adjusted drilling direction.