Nanoparticle drilling fluids have the potential to minimize wellbore instability problems. There is a need for the development of a new generation of drilling fluids to handle wellbore instability problems especially in lost circulation zones and shale problems. A rheological model is needed to accurately describe the rheology of nano base drilling fluid because limited experimental data are currently available for using carbon nano particles in water base mud and Inability of current methods to address shale strength with increased open hole time reduction of critical mud weight to prevent hole collapse in challenging environment like depleted formation, narrow margin, HPHT wells. The study attempted to produce nano particles locally where the in-situ formation of floating catalyst was used. It involved the floating of catalyst particles by thermal decomposition of organometallic where argon, acethelene and nitrogen gas were used. The CNP WBM formulation was compared with the conventional base mud. Result Show that the CNP mud gave a better result for the fluid loss which can be used as a fluid loss property in the study mud, CNP gave 6.2mls while soltex gave 8.2mls and also CNP gave a thin and firm filter cake of 0.18cm as compared to the soltex formulated mud. Therefore, CNP is a good fluid loss additive and enhances the rheological properties of mud, also helped to improve and add value to local content in the oil and gas industry and save us the cost through the application of locally sourced drilling fluid and save foreign exchange and It has export potentials in the Gulf of Guinea and other oil provinces.