The proposed solution is then compared with exact analytical solution for incompressible material and experimental results of thick-wall cylinder. It is shown that the results obtained by the proposed analytical solution are in good agreement with the experimental results and exact analytical solution. A reduction of about 13%-20% in plastic zone from the proposed closed-form solution is observed, as compared to the results from the finite element method (FEM) based Mohr-Coulomb criterion. Next, the influences of various parameters such as Poisson's ratio, internal pressure (mud weight), dilation angle, and out-of-plane stress are studied in terms of stress and deformation responses of wellbore.