Profile: Palmer Bit Co. manufactures Red Devil bits and sells a complete line of drag bits, rock bits & other drilling bits for geo exchange, water well, seismic & mining and other drilling applications. Chevron-type drag bits are recommended for drilling in slightly harder and more consolidated materials than step-type drag bits such as hard shales, limestones & tougher gravels. Our replaceable blade drag bit system is the most effective and versatile bit available. The blade system allows to replace a single blade when it is worn or damaged versus replacing the whole bit.