In this study, hydrophobic quaternary ammonium intermediate was synthesized by epichlorohydrin (ECH) and oleamide propyl dimethyl tertiary amine (PKO). Sodium carboxymethylcellulose (CMC) was chemically modified by introducing a large number of hydrophobic quaternary ammonium branched chains to improve CMC's salt resistance, thickening ability, and solubility. The quaternary ammonium salt structure can partially offset the compression double-layer effect of linear polymers in a low-price salt ion solution, which makes CMC more stretchable and helps it obtain a higher viscosity and greater drag-reduction performance. The experiment was mainly divided into three parts: Firstly, we performed an epichlorohydrin and oleic acid PKO reaction, generating an oleic acid chain quaternary ammonium chlorine atom intermediate. Secondly, the etherification reaction between intermediate -Cl and -OH groups of CMC was completed. Finally, the modified CMC was characterized by IR, SEM, and XPS, and the viscosity and the drag-reduction rate were evaluated. After CMC and the intermediate were reacted at a mass ratio of 9:1.8 at 80 °C for 5 h, the new CMC with enhanced thickening ability, salt resistance, and drag-reduction performance was obtained. We found that the apparent viscosity increased by 11%, the drag reduction rate increased by 3% on average, and the dissolution rate was also significantly accelerated, which was ascribed to the introduction of quaternary ammonium cation. Moreover, the oleic acid amide chain increased the repulsive force of the CMC chain to low-priced metal cations in solution and intermolecular repulsive force, which is beneficial to increase the viscosity, salt resistance, and drag-reduction performance.