System and method for drilling a deviated wellbore

A system and method for drilling a wellbore along a desired well path is disclosed. The system and method employed a bearing housing which may be connected into a bottom hole assembly to facilitate drilling of deviated wellbore sections. The bearing housing has an internal bore with an axis that can be positioned to form a non-zero angle with the central or longitudinal axis of the bearing housing. The internal bore is designed to rotatably receive a drill bit shaft such that a drill bit is oriented at a desired angle with respect to the bearing housing. Alternatively, the internal bore may be positioned in a sleeve which is received in the bearing housing.