Successful exploitation of shale reservoirs largely depends on the effectiveness of hydraulic fracturing stimulation program. Favorable results have been attributed to intersection and reactivation of pre-existing fractures by hydraulically-induced fractures that connect the wellbore to a larger fracture surface area within the reservoir rock volume. Thus, accurate estimation of the stimulated reservoir volume (SRV) becomes critical for the reservoir performance simulation and production analysis. Micro-seismic events (MS) have been commonly used as a proxy to map out the SRV geometry, which could be erroneous because not all MS events are related to hydraulic fracture propagation. The case studies discussed here utilized a fully 3-D simulation approach to estimate the SRV. The simulation approach presented in this paper takes into account the real-time changes in the reservoir's geomechanics as a function of fluid pressures. It is consisted of four separate coupled modules: geomechanics, hydrodynamics, a geomechanical joint model for interfacial resolution, and an adaptive re-meshing. Reservoir stress condition, rock mechanical properties, and injected fluid pressure dictate how fracture elements could open or slide. Critical stress intensity factor was used as a fracture criterion governing the generation of new fractures or propagation of existing fractures and their directions. Our simulations were run on a Cray XC-40 HPC system. The studies outcomes proved the approach of using MS data as a proxy for SRV to be significantly flawed. Many of the observed stimulated natural fractures are stress related and very few that are closer to the injection field are connected. The situation is worsened in a highly laminated shale reservoir as the hydraulic fracture propagation is significantly hampered. High contrast in the in-situ stresses related strike-slip developed thereby shortens the extent of SRV. However, far field nature fractures that were not connected to hydraulic fracture were observed being stimulated. These results show the beginning of new understanding into the physical mechanisms responsible for greater disparity in stimulation results within the same shale reservoir and hence the SRV. Using the appropriate methodology, stimulation design can be controlled to optimize the responses of in-situ stresses and reservoir rock itself.