The present concept is a method of slot recovery for the oil industry. The method involves running an internal cutter down the production casing to cut through a preselected number of existing casings at predetermined depths before drilling around the outermost preselected casing with a hollow drill bit. The hollow drill bit drills through the preslected outermost casing cement to the predetermined depth before a removal tool attached to the inside of the production casing is used to remove the existing casings to the predetermined depth. These steps are repeated using appropriately sized hollow drill bits and casings to drill around the next preselected outermost casings to the next predetermined depth, continuously removing the existing casings until all desired existing casings are removed.