This paper develops mathematical models for a proposed production logging tool, which uses capacitance sensors to measure liquid annulus thickness and liquid type for a primarily gas-carrying wellbore. A semi-analytical method is devised which uses Fourier analysis to account for the complicated system geometry and reduces the problem to singular integral equations over a sensor electrode. Approximate solutions of these integral equations give expressions for capacitance, which is calculated for different liquids and varying liquid annuli thicknesses and electrode positions. These results are compared with capacitance values found using COMSOL Multiphysics, a finite element package. Good agreement is obtained between these two methods, with a discrepancy range of 1–8 %. Capacitance values obtained range from 32 to 93 pF/m, and sensitivity is estimated to range from 0.8 to 60 %, depending mainly on the proximity of the electrode to the liquid and also on the permittivity and thickness of the liquid layer. Practical implications of the study are also discussed. Realistically useful measurements, where ~0.2 mm of liquid is detectable, can potentially be made using an electrode 4–6 mm away from the inner wellbore wall.