Drilling fluids comprising graphenes and nanoplatelet additives and methods for production thereof are disclosed. Graphene includes graphite oxide, graphene oxide, chemically-converted graphene, and functionalized chemically-converted graphene. Derivatized graphenes and methods for production thereof are disclosed. The derivatized graphenes are prepared from a chemically-converted graphene through derivatization with a plurality of functional groups. Derivatization can be accomplished, for example, by reaction of a chemically-converted graphene with a diazonium species. Methods for preparation of graphite oxide are also disclosed.