Abstract: A pressure compensation assembly for a drill bit having a cavity to receive the pressure compensation assembly, a mud port connected to the cavity, and a lubricant passageway connected to the cavity, is disclosed. The pressure compensation assembly includes a relief mechanism having a selected operating pressure. The pressure compensation assembly is movable from a first position to a second position within the cavity. The pressure compensation assembly may receive lubricant at a pressure exceeding the selected operating pressure to permit the flow of lubricant into the lubricant passageway while substantially preventing the release of lubricant into the mud port while in the first position. The pressure compensation assembly is operable to limit a pressure differential within the drill bit while in the second position.

Abstract: A drill bit includes a floating journal bushing, a seal, a cutter having a seal gland for the seal and a cutter bearing surface proximate to the journal bearing, wherein the cutter bearing surface has a first inner diameter, and a journal, wherein the cutter is rotatably coupled about the journal, wherein the journal bearing is rotatably coupled about the journal, wherein the journal has a seal boss having a first diameter, and a journal bearing surface having a second diameter, and wherein the first diameter is less than the first inner diameter.

Abstract: A pressure compensation assembly for a drill bit having a cavity to receive the pressure compensation assembly, a mud port connected to the cavity, and a lubricant passageway connected to the cavity, is disclosed. The pressure compensation assembly includes a relief mechanism having a selected operating pressure. The pressure compensation assembly is movable from a first position to a second position within the cavity. The pressure compensation assembly may receive lubricant at a pressure exceeding the selected operating pressure to permit the flow of lubricant into the lubricant passageway while substantially preventing the release of lubricant into the mud port while in the first position. The pressure compensation assembly is operable to limit a pressure differential within the drill bit while in the second position.