A composition including polyalphaolefins that function as drag reducing agents and a process for the preparation of polyalphaolefins that function as drag reducing agents are disclosed. The process includes contacting alphaolefin monomers with catalyst particles in a polymerization mixture that includes a hydrocarbon solvent. The polymerization of the alphaolefin monomers produces polyalphaolefin drag reducing agents having an inherent viscosity of at least 10 dL/g. During polymerization of the polyalphaolcfin monomers, localized micelles compromising high molecular weight polyalphaolefin polymer are formed in micellar zones around the catalyst particles. The polymerization is conducted in the presence of a viscosity reducing agent that includes a substantially hydrophobic dispersant. The viscosity reducing agent is present in an amount sufficient to reduce the viscosity of the reaction mixture and disperse the localized micelles. The addition of the dispersant during the polymerization process provides for high molecular weight polyalphaolefin and a more uniform molecular weight distribution of the resulting polyalphaolefin. A process of forming a polyalphaolefin drag reducing agent in one or more polymerization reactors and a process for reducing drag in a conduit are also disclosed.