Improving the wear resistance of cone bit bearings is crucial for enhancing bit life and drilling efficiency. This study integrates surface texture lubrication with bit floating sleeve bearings. A ring-block friction experiment was conducted under simulated drilling conditions, examining groove textures with various geometric parameters. The effects of groove texture parameters—depth, area ratio, skew angle, and width—on the tribological performance were analyzed using friction coefficient, wear amount, and surface morphology. Results indicate that optimal texture arrangements significantly enhance wear resistance. The best parameters found were a depth of 40 µm, a texture area ratio of 10%, and a skew angle of 45°, reducing the friction coefficient by over 39%.