This invention concerns an oil based drilling mud comprising an organic liquid such as oil; water; an emulsifier; a wetting agent; a weighting material of sufficient quantity to achieve a density of 7 to 20 lb/gallon; and a neutralized sulphonated elastomer, said neutralized sulphonated polymer having 5 to 30 meq. of sulphonated groups per 100 grams of the neutralized sulphonated polymer.
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