Apparatus for reducing torque on a drill string includes a first bearing assembly, a second bearing assembly, and a bearing sleeve. The first and second bearing assemblies are disposed on and clamped onto a tubular portion of a drill pipe of the drill string, and each include a first and second section. The bearing sleeve is disposed on the drill pipe such that the bearing sleeve is maintained in an axial position relative to the drill pipe by the first bearing assembly and the second bearing assembly. Each of the first and second bearing assemblies have a first diameter portion and a second diameter portion that is smaller than the first diameter portion. The second diameter portion of the first bearing assembly and the second diameter portion of the second bearing assembly are disposed adjacent to each other and the bearing sleeve is disposed around the adjacent second diameter portions.