EARTH BORING DRILL BITS MADE FROM A LOW-CARBON, HIGH-MOLYBDENUM ALLOY

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An earth boring bit formed from an alloy comprising a low carbon content and high molybdenum content is disclosed herein. The molybdenum content is greater than about 0.8% to about 1.15% by weight of the alloy. The carbon content may range up to about 0.16% by weight of the alloy. The alloy may further comprise alloy further comprises manganese, phosphorus, sulfur, silicon, nickel, chromium, copper, aluminum, vanadium, and calcium; with the balance being iron. The alloy experiences a relatively flattened hardenability curve and low martinsite formation.