Abstract: A buoyant riser system for use in a deep water offshore drilling environment is anchored by a system of compliant guys below the active weather zone of the sea. A controllably buoyant housing of the system is submerged at a depth that is readily accessible to divers and includes a blow-out preventer (BOP) from which a suspended sub-riser leads to a well bore to which the sub-riser is coupled. Above the housing, a riser suspended from a floating drill rig is coupled to the BOP thereby communicating the drill rig directly with the well bore for drilling and well completion operations.