A neutron logging tool includes a neutron source and at least one position sensitive thermal or epithermal neutron detector. The logging tool further includes an electronic controller configured to estimate the axial location of detected neutrons. Measurement of the axial neutron flux distribution enables other formation and borehole parameters such as formation porosity and sensor standoff to be computed. In logging while drilling embodiments, a borehole caliper may also be computed form the axial neutron flux distribution.