The present work focuses on application of boron-based nanomaterial enhanced additive (PQCB) in water based mud system. The additive is specially formulated to improve friction, torque and hydraulic drag in challenging subterranean formations with bottom-hole temperature reaching 200°C. Extreme pressure tests were conducted using the standard 10 lb/gal and 13.5 lb/gal water based muds. For 10 lb/gal mud system addition of 5% of this additive gives torque reduction of 80% while for 13.5 lb/gal mud the torque reduction was 52%. We noticed an increase in rheology of the mud with the addition of this additive showing higher PV, YP and gel strength as compared to the commercially available lubricant. Low RPM rheology for high mud weight formulation showed a two-fold increase. Higher low RPM rheology will improve the drilling-hole cleaning and weighting materials suspension capability. PQCB also shows a consistent HPHT fluid loss control performance in 10 lb/gal and 13.5 lb/gal muds. This is due to its ability to withstand the higher conditioning temperature and prevent early breakdown of the polymers in the mud system. During a field trial in Myanmar at one of the wells with known hard subterranean formation, PQCB demonstrated an excellent performance with torque reduction of 36.36% and return permeability of 41% while the commercial lubricant gives torque reduction of approximately 13.64% and return permeability of 49%. Unlike any other ester based additives, PQCB shows no hydrolysis problem on both the mud systems tested. This enables the elimination of silicone and alcohol based de-foamers in the mud formulation. The nanomaterial enhanced PQCB additive is also biodegradable and helps to prevent the wear and tear of drilling tools that ultimately will reduce the overall production cost.