Investigating seismic dispersion and attenuation characteristics of loosely compacted marine sandstone is essential in reconciling different geophysical measurements (surface seismic, well logging and ultrasonic) for better characterization of a shallow marine sandstone reservoir. We have experimented with a typical high-porosity and high-permeability sandstone sample, extracted from the Paleogene marine depositional setting in the Gulf of Mexico, at the low-frequency band (2–500 Hz) as well as ultrasonic point (10⁶ Hz), to investigate the effects of varying saturation levels on a rock's elasticity. The results suggest that the Young's modulus of the measured sample with adsorbed moisture at laboratory conditions (room temperature, 60%–90% humidity) exhibits dispersive behaviours. The extensional attenuation can be as high as 0.038, and the peak frequency occurs around 60 Hz. The extensional attenuation due to moisture adsorption can be dramatically mitigated with the increase of confining pressure. For partial saturation status, extensional attenuation increases as increasing water saturation by 79% with respect to the measured frequencies. Additionally, the results show that extensional attenuation at the fully water-saturated situation is even smaller than that at adsorbed moisture conditions. The Gassmann–Wood model can overall capture the P-wave velocity-saturation trend of measured data at seismic frequencies, demonstrating that the partially saturated unconsolidated sandstone at the measured seismic frequency range is prone to be in the relaxed status. Nevertheless, the ultrasonic velocities are significantly higher than the Gassmann–Wood predictions, suggesting that the rocks are in the unrelaxed status at the ultrasonic frequency range. The poroelastic modelling results based on the patchy saturation model also indicate that the characteristic frequency of the partially saturated sample is likely beyond the measured seismic frequency range.