The Permian Rush Springs Formation above the Cement anti-cline in Oklahoma contains a Late Permian-Early Triassic chemical remanent magnetization (CRM) that is interpreted to reside in authigenic magnetite. The CRM is found in bleached, carbonate-cemented sandstones that were altered by hydrocarbons and contain authigenic magnetite. The magnetite presumably precipitated in the Late Permian-Early Triassic as a result of chemical conditions created by hydrocarbons or associated fluids that migrated from underlying reservoir units. Red sandstones around Cement that were not altered by hydrocarbons contain a Permian CRM that resides in hematite. The red and bleached sandstones have similar magnetization intensities and susceptibilities; this raises questions about the use of aeromagnetic surveys in hydrocarbon exploration.