Acoustic monitoring is carried out using a fiber optic cable. Coherent Rayleigh noise generated by the transmission of a coherent beam of radiation through the fiber optic cable is detected, a phase of the coherent Rayleigh noise is measured and the measured phase is processed to identify an acoustic occurrence along the fiber optic cable. In certain aspects, an optical fiber serves as a distributed interferometer that may be used to monitor a conduit, wellbore or reservoir. The distributed interferometric monitoring provides for accurate detection of acoustic occurrences along the fiber optic cable and these acoustic occurrences may include fluid flow in a pipeline or wellbore, processes taking place in a wellbore or pipeline, fracturing, gravel packing, or production logging.