We have studied near-surface magnetic contrasts in nine oil wells from an oil prospective area in eastern Venezuela (compressive deformation front of the northeastern Maturin Sub-Basin). Samples are drill cuttings taken at intervals of about 15 m within approximately the first 1200 m of most of these wells. Rock magnetic experiments, electron paramagnetic resonance (EPR), extractable organic matter (EOM), X-ray diffraction and scanning electron microscopy (SEM) are used to discriminate between two anomalies in magnetic susceptibility (MS), related to either a reducing environment caused by the underlying reservoir (Type A), or to primary lithological contrasts (Type B). Contour maps of MS, S-ratio and organic-matter-free radical concentrations (OMFRC), for the A-like depth levels, show a major central zone of anomalous high values. This area is probably associated with either maximum accumulation of hydrocarbons in the reservoir or with their southerly migration from the northern petroleum source towards the deformation front. We argue that such a result could be used, for future exploration and production ventures in the region, as a preliminary characterization of the reservoir. We also show in a Day plot, that saturation remanence — saturation magnetization ratio (Mrs/Ms) and coercivity of remanence — coercive force ratio (Hcr/Hc) stand as additional criteria to discriminate between these two types of magnetic contrasts. In fact, for the area of study, hysteresis ratios show three distinct trends corresponding to samples from A-like, B-like and non-anomalous depth levels.