Pilot Hole Bit Service LLC is a company that supplies drill bits used in the oil industry. It is based in the city of Lafayette in southern Louisiana.? The Schlumberger Oilfield Glossary provides the following description for a drill bit: "It is the tool that is used to cut through rocks or rocky surfaces. The drill bit is attached to the tip of the drillstring." Oil industry resource site Rigzone further explains, "The drill bit is a rotating apparatus. It is usually made up of two or three cones made of the hardest of materials such as steel and tungsten carbide." Some drill bits are even made of synthetic or natural diamonds. These drill bits have and sharp teeth that cut through rock and various sediments. The drill bit is a crucial component in rotary drilling. It is reportedly the most popular choice for drilling for oil and gas.