An adjustable drill having a drill body having a longitudinal axis, and a face surface including an aperture extending into the drill body. A directional feature adjacent the aperture extends toward an edge of the drill body, and a longitudinal gullet extends from the face surface along at least a portion of the drill body. A cartridge adjacent the face surface is selectively slidable along the directional feature, and a cutting face having an insert pocket positioned adjacent the edge of the drill body in which an insert is releasably affixed.