An apparatus is disclosed for generating a magnetic field of high field strength, spatial uniformity and minimal drift of magnetic field intensity over a temperature range of about 0° C. to 175° C. This apparatus may be used in a standard modular logging tool for direct downhole NMR measurements of various parameters of fluid samples of geologic formations near the walls of a borehole. In one embodiment, the apparatus is composed of two tubular permanent magnets made of different magnetic materials with different magnetic temperature coefficients to provide temperature compensation. The apparatus preferably also utilizes a pressure barrel that surrounds the magnets and provides a return path for magnetic flux lines, thereby increasing flux density within the measurement volume.