An apparatus and method for pulling a drill string out from a wellbore and lowering the drill string back into the wellbore, with minimal or no disassembly of the drill string, are provided. The apparatus has a first tension mechanism, a second tension mechanism, an up-hole cable, a down-hole cable and a guide. To pull a drill string out from a wellbore, the up-hole cable is connected to an up-hole end of the drill string and the drill string is pulled upwardly into and through the guide. To lower the drill string into the wellbore, the down-hole cable is connected to the mid-section (and/or the up-hole end) of the drill string and the drill string is pulled downwardly from the guide back into the wellbore.