An optical inspection instrument includes a housing configured to move along the interior of a pipe string in a wellbore. The pipe has a cutting structure at its bottom end. The instrument includes a probe extending from a bottom end of the housing. The probe has an output from a light source and a light input to a video camera. The probe has a diameter selected to enable extension through an opening in the cutting structure. A method for inspecting a wellbore includes moving an instrument through an interior of a pipe string in the wellbore. The pipe has a cutting tool at its lower end. At least part of the instrument is moved outside the bottom end of the pipe through a port in the cutting tool. Optically transparent fluid is moved into the wellbore proximate an end of the instrument outside the pipe string. Objects proximate the fluid are inspected.
