Oil-based drilling fluids (OBDFs) are extensively used in the drilling industry due to their superior performance in challenging drilling conditions. These fluids control wellbore stability, lubricate the drill bit, and transport drill cuttings to the surface. One important component of oil-based drilling fluids is the viscosifier, which provides rheological properties to enhance drilling operations. This study evaluates the effectiveness of Claytone-IMG 400, a novel rheological agent, in enhancing the performance of OBDFs under high-pressure and high-temperature (HPHT) conditions. A comparative analysis was conducted with a pre-existing organoclay (OC) to assess the improvements achieved by Claytone-IMG 400. The OCs were analyzed using X-ray diffraction (XRD), X-ray fluorescence (XRF), scanning electron microscopy (SEM), and particle size distribution (PSD) to identify their mineral and chemical compositions, morphologies, and particle sizes. The drilling fluid density, electrical stability, sagging tendency, rheological properties, viscoelastic properties, and filtration properties were studied to formulate a stable and high-performance drilling fluid. The results confirmed that the novel OC does not affect the drilling fluid density but enhances the emulsion stability with a 9% increment compared with the drilling fluid formulated with MC-TONE. The sagging experiments showed that Claytone-IMG 400 prevented the sagging issues in both static and dynamic conditions. Also, Claytone-IMG 400 improved the plastic viscosity (PV), yield point (YP), and apparent viscosity (AV). The PV, YP, and AV were improved by 30%, 38%, and 33% increments respectively compared with the drilling fluid formulated with MC-TONE. The YP/PV ratio increased with a 6% increment from 1.12 to 1.19. Moreover, the gel strength (GS) was significantly increased, and the filtration properties were enhanced. The filtration volume was reduced by 10% from 5.0 to 4.5 cm3, and the filter cake thickness had a 37.5% reduction from 2.60 to 1.89 mm. The novelty of this study is highlighted by the introduction and evaluation of Claytone-IMG 400 as a new rheological additive for safe, efficient, and cost-effective drilling operations. The results indicate that Claytone-IMG 400 significantly improves the stability and performance of OBDFs, thereby reducing wellbore instability and drilling-related problems.