This paper describes the impact of carboxymethyl starch preparation conditions on physicochemical properties of polysaccharide reagent, widely used as fluid loss reducing agent in drilling mud. Variation of the main parameters of carboxymethylation is researched in the experiment. The following conditions such as temperature and reaction time, amount of water, as well as ratio of NaOH to monochloracetic acid define the characteristics of carboxymethyl starch. The degree of substitution is defined for polysaccharides, as well as the characteristics of samples have been studied by infrared spectroscopy. Rheological characteristics and fluid loss indicator have been investigated to study the impact of the reagents on drilling mud quality