A pipeline inspection tool includes two pole magnets oriented at an oblique angle relative to the central longitudinal axis of the tool body. An array of sensor coil sets is located between opposing edges of the two pole magnets and oriented perpendicular to the central longitudinal axis. Each sensor coil set includes a transmitter coil and two opposing pairs of receiver coils that are gated to receive reflections from the wall of a tubular member. Because the line of sensor coils is rotated relative to the magnetic bias field, the receiver coils are in-line with, and have the same angular orientation as, the transmitter coil. The tool provides improved sensitivity to small defects, substantial decrease in RF pulser power requirements, full circumferential coverage, self-calibration of the transmitted signals, and less interference between transmitter coils caused by acoustic ring around.