Techniques for shearing a tubular of a wellbore penetrating a subterranean formation with a blowout preventer are provided. The blowout preventer has a housing with a hole therethrough for receiving the tubular. The techniques relate to a blade assembly including a ram block movable between a non-engagement position and an engagement position about the tubular, a blade carried by the ram block for cuttingly engaging the tubular, and a retractable guide carried by the ram block and slidably movable therealong. The restractable guide has a guide surface for urging the tubular into a desired location in the blowout preventer as the ram block moves to the engagement position.