A drill having a replaceable cutting head, modified to eliminate forces which would distort the pocket of the drill shank and otherwise concentrate stresses which would cause failure of the drill. The cutting head has a frustoconical depending connecting member received in a receptacle formed in the shank. In different embodiments, contact between the pocket formed in the shank and the cutting head connecting member is limited. In one embodiment, angle of drive surfaces is modified from prior art practice. In another embodiment, transition of at curved joints between vertical and horizontal surfaces is made more gradual. The drill preferably has flutes formed collectively by the shank and cutting head when assembled.