The Spar continues to be a popular drilling and production platform design for ultra-deep water. In recent years, developers have introduced a number of design variations such as the Arctic Spar, closed centerwell Spar, and long Spar. As the industry moves production into ultra-deep water, the escalation in drilling costs, particularly for deeper more complicated wells, prompts the need to look for new deepwater floater designs, including Spars. This paper introduces some new features to the Truss Spar, including a radial wellbay layout and an adjustable buoyancy centerwell device. This new Radial Wellbay Spar design is investigated and compared to the traditional Truss Spar for the same topside and riser weights and subjected to the same environments. The base case assumes a drilling and production platform with the performance comparison made in terms of hull weights and dimensions and hull motions for post-Katrina Gulf of Mexico conditions. In general, the Radial Wellbay Spar offers a smaller hull with fewer mooring lines for the same payload while maintaining the Spar’s low motion performance.