Abstract: A multifunctional drilling enhancement tool includes a shaft having a bore extending along a longitudinal direction (X); a main cutting device rotatably and slidably attached to the shaft; a first housing fixedly attached to a first end of the shaft; a second housing fixedly attached to a second end of the shaft; first and second proximal engagement elements attached to opposite ends of the main cutting device; and first and second distal engagement elements attached to corresponding ends of the first and second housings, so that the first distal engagement element is directly facing the first proximal engagement element, and the second distal engagement element is directly facing the second proximal engagement element.