The story
From back- + counterbore.
Etymology from Wiktionary, CC BY-SA 4.0.
Today it means: To counterbore from the backside of a workpiece by using a boring tool that passes through a through hole, deploys a cutting edge (or receives it by manual insertion from an operator), counterbores the far side, retracts the cutting edge (or has it removed), and then retreats back through the hole (toward the tool's origin). Full definition →
From back- + counterbore.
Etymology from Wiktionary, CC BY-SA 4.0.