Abstract: Disclosed are invert oil emulsion drilling fluids in which the internal aqueous phase contains one or more water soluble polyethylene glycols dissolved therein. The fluids are characterized by an elevated low shear rate viscosity, hence excellent suspension properties, an elevated Shear Thinning Index, hence excellent drilling characteristics, and a high shale stability index, hence excellent cuttings stabilization and formation protection. Preferred polyethyleneglycols have a molecular weight from about 500 to about 10,000, preferably from about 1000 to about 10,000. Preferred fluids contain from about 5% to about 40% by weight of the polyethyleneglycol in the aqueous phase, most preferably from about 10% to about 30% by weight. Also disclosed is a method of enhancing the thermal stability of invert emulsion well drilling and servicing fluids which comprises dissolving in the aqueous phase thereof one or more polyethyleneglycols.