Drill bit with reciprocating gauge assembly

A drill bit comprising:

• a bit body defining a rotational axis;
• a plurality of cutters secured to the bit body, including a gauge cutter disposed on a gauge section and defining a gauge diameter of the drill bit;
• a first reciprocating gauge assembly comprising a cavity defined in the bit body, a piston reciprocably disposed in the cavity, a wear element on an outwardly facing end of the piston, a piston retainer for moveably retaining the piston in the cavity, and a spring biasing the piston outwardly to a neutral position of the wear element under gauge;
• a gauge pad on the bit body having first and second steps of different diameters, wherein the reciprocating gauge assembly is disposed on the first step;
• and
• a second reciprocating gauge assembly on the second step of the gauge pad and including a second piston reciprocably disposed in a second cavity, a second wear element on an exposed end of the second piston, and a second spring biasing the second piston outwardly to a second neutral position of the second wear element with respect to the gauge diameter.

A method of drilling a wellbore into a formation, comprising:

• rotating a drill bit about a rotational axis;
• engaging a plurality of cutters secured to a bit body of the drill bit to cut the formation while rotating the drill bit, including using a gauge cutter to cut a gauge diameter;
• generating a lateral force on a gauge section of the drill bit while drilling;
• and
• using an under gauge wear element to limit engagement of the gauge cutter with the formation;
• and
• dynamically adjusting the position of the wear element under gauge in response to the lateral force, including outwardly biasing a piston disposed in a cavity on the bit body with the wear element on an outwardly facing end of the piston and moveably retaining the piston in the cavity with a fastener extending transversely through a retention hole on the piston and into the bit body, wherein the retention hole in the piston is wider than the fastener in an axial direction of the piston to allow reciprocation of the piston within the cavity.