This invention relates to a water soluble polymer and method for its preparation. The water soluble polymer exhibits superior thermal stability characteristics when used as an additive in aqueous drilling fluids. The polymer consists of a major portion of a catechol based monomer and a dicarboxylic acid. Other monomers and materials are added to enhance the functional characteristics of the drilling fluid additive. The method of this invention includes the mixing of monomers, polymerization of that mixture and optionally the steps of hydrolysis and sulfonation.