This paper presents a comprehensive experimental evaluation to investigate the effects of adding iron-based and calcium-based nanoparticles (NPs) to nonaqueous drilling fluids (NAFs) as a fluid loss additive and for wellbore strengthening applications in permeable formations. API standard high-pressure-high-temperature (HPHT) filter press in conjunction with ceramic disks is used to quantify fluid loss reduction. Hydraulic fracturing experiments are carried out to measure fracturing and re-opening pressures. A significant enhancement in both filtration and strengthening was achieved by means of in situ prepared NPs. Our results demonstrate that filtration reduction is essential for successful wellbore strengthening; however, excessive reduction could affect the strengthening negatively.