A critical step in the oil exploration process is drilling the soil for access to the petroleum reservoir. One of the problems is understanding the dynamic behavior of the drill string during the drilling process in the face of various factors such as drill bit-rock interaction, drill string shocks against the well wall, angular velocity control strategies and other factors. A key part of dealing with this problem is the representation of the dynamic system to characterize the drill string, e.g., the mathematical model that will represent the dynamical response of the structure when facing different types of loads. In this context, this work will address the problem of the dynamics of a drill string using a mathematical model based on Cosserat theory that will result in a system of six partial differential equations that describe the dynamic response of a one-dimensional structure, inserted in three-dimensional Euclidean space, in terms of the linear displacement variables of the curve and angular displacement of the cross sections. The model is able to describe nonlinear dynamics, including flexure, torsion, extension and shear. Initially, the system of partial differential equations is solved in a quasi-static sense, satisfying the boundary conditions, using the Regular Perturbation method. The approximate solutions are used as shape functions for implementation in the Finite Element method. These shape functions are known as Modified Cosserat Rod Element (MCRE). It is verified that these shape functions are restricted to problems that do not involve large displacements and for this reason they are not suitable for the proposed problem. Given this fact, the system of partial differential equations is written in a weak form and solved by a commercial software based on Finite Element analysis, considering the boundary conditions, the drill bit-rock interaction model, the angular velocity control strategy and for any string contacts against the well wall. The proposed model produced results that are in agreement with the literature and is capable of dealing with large displacements.