A system and method of drilling and/or perforating uses a laser beam to remove material, such as to perforate the casing, cement and formation or drill a well bore. The system and method can further or alternately encompass material analysis that can be performed without removing the material from the well bore. The analysis can be performed apart from or in connection with drilling operations and/or perforating the casing, cement and formation. The analysis can be used in a feed back loop to adjust material removal, adjust material analysis, determine the location of future material removal, and for other uses.