Co-rotating twin-screw extruders are widely used compounding and blending machines. The properties of blends are directly related to their morphology, which changes during extrusion. These changes include deformation, breakup and coalescence of a phase. To understand mixing of the blend components using different screw elements, simulation tools are useful. This paper focuses on viscoelastic properties during a single drop deformation in a Newtonian fluid using a 3D, two-phase finite element model in steady shear flow. Oldroyd-B model is used to describe the viscoelastic component is represented using. Simple shear boundary conditions are imposed using the simulated flow-field inside co-rotating twin-screw extruder, which is simulated using a three-dimensional finite element method. Flow field parameters like shear rate distributions, residence time distributions, etc. are extracted from the flow field simulations. Furthermore, the deformation histories of the dispersed droplets, with different rheological properties, within the different screw elements are compared.