When we attempt to send non-trivial amounts of torque down a long shaft, the torque reactions are non-trivial.
We may have experience with long "aircraft" twist drills of 1/4 inch or 3/8 inch driven by a hand-held drill. There were torque reactions, but we lived with it.
I have experience of using a Milwaukee HoleHawg drill, which can drive a 4 5/8 inch Forstner bit into the wooden stud/joist of your choosing. You will (hopefully) be able to brace yourself, and it goes without much problem.
However, if you decide to add a 24 inch extension and find yourself attempting to send all that torque reaction through your arms, down your trunk, down your legs, through your feet, and into the floor, well, Not So Much.
Photo of twisted extension available on request
Same here, but it sounds as if the workpiece itself is having difficulty with torque reactions.
Good Luck
Steve
On edit: Nice lathe. What you are doing is perhaps closer to trepanning, inasmuch as you want to take a solid bar and make a pipe out of it. You are in Oil-Country, and trepanning is a well-known process. The tooling is basically a hole saw on steroids, which cuts out a core, which gets stacked in a pile, somewhere...
Specialized machinery and tooling, but it's not prone to torque reaction, so it works, even over 50-60 feet of workpiece.
http://www.todaysmachiningworld.com/how-it-works-–-drilling-deep/