Method, devices and systems are provided for measuring deformation in subterranean formations. Such methods include introduction of spaced-apart depth magnetic markers along the longitudinal length of a well bore and measuring the position of each depth marker over time so as to determine deformation of the subterranean formation. In certain embodiments, depth markers comprise rare earth magnets. In further embodiments, orientation of each magnetic bullet is determined over time to determine the change in orientation of each magnetic bullet. Advantages of the methods and devices herein include, but are not limited to, improved accuracy and reliability of deformation measurements and reduced environmental impact due to the avoidance of radioactive markers used by the present invention.