Magnetic bit sub

A magnetic bit sub for collecting ferrous metal particles from oil wells, gas wells, and water wells during well drilling operations, well completion operations, and well maintenance operations, the magnetic bit sub comprising:

• a member having a threaded male connector on one end for attachment to a length of pipe, the tubular member further having a plurality of recesses spaced along the outer surface of the tubular member;
• a plurality of permanent magnets, each magnet being disposed within one of the plurality of recesses;
• securing means for securing the permanent magnets within the recesses;
• and
• wherein ferrous metal particles coming into the proximity of the recessed permanent magnets are attracted to the recessed permanent magnets and held in place for removal when the length of pipe is removed from the well.