A well monitoring system includes a plurality of transmitter coils coupled to an exterior of a casing positioned within a wellbore, wherein one or more first transmitter coils are positioned at a first location and one or more second transmitter coils are positioned at a second location axially offset from the first location. At least one receiver coil is coupled to the exterior of the casing and positioned at the second location. A power source is communicably coupled to the one or more first and second transmitter coils. The one or more first transmitter coils generates a magnetic field detectable by the at least one receiver coil, and the one or more second transmitter coils generates a bucking signal that minimizes a direct coupling between the one or more first transmitter coils and the at least one receiver coil.