Abstract: A new and improved drill bit for connection on a drill string has a hollow tubular body with an end cutting face and an exterior peripheral stabilizer surface with cylindrical sintered carbide inserts positioned therein. Nozzle passages extend from the interior of the bit body through the cutting face, preferably at an angle of about 10.degree.-25.degree. relative to the longitudinal axis of the body, and consist of a passage in the bit body and a removable and interchangeable nozzle member. The nozzle member is secured in place either by peripheral grooves and snap rings or aligned smaller passages in the nozzle member and the bit body having a retaining pin positioned therein.