A method for estimating formation permeability from measured sonic wave Stoneley attributes and particularly the Stoneley attributes of slowness (DTst) and attenuation (ATTst), taking into consideration the existence of a heavy walled drill collar at the end of the drill string and the relative lack of borehole mud cake during a drilling operation. In the subject LWD application a real-time qualitative indication for fracture and permeable zones is estimated from Stoneley measurements. This information is useful to a driller to make important timely decisions about drilling and completion programs.