A cutting tool (22) includes a plurality of pivoted blades (36) for swinging outwardly to an expanded radial position for first cutting the walls of multiple casing strings (10, 11), and then removing a predetermined length of the casing strings (10, 11) simultaneously in a cutting action. Pivoted blades (36) have cutting elements (66) of a similar size and shape positioned about upper, lower, and outer sides (60, 62, 64) of the blades (36). The lower sides (62) of the blades (36) engage the upper annular cut ends of the casing strings (10, 11) in a cutting action without tripping or removal from the bore hole.