An anchor which includes a tubular body, a top closure and a bottom closure secured to opposite ends of said tubular body, a plurality of drilling cutters mounted on the bottom closure, a neck having an external groove therein secured to the top closure, an opening in both the top and bottom closures, means for coacting with a drill string extending into said closures for sealing to maintain the interior of said body substantially free of water when submerged, a ratchet collar adaped to coact with a mating ratchet collar of the drill string for rotating the anchor to cause it to drill into the bottom of a body of water, a swivel adapted to be lowered onto the neck of the top closure when it has been set, latching dogs engaging in the external groove to secure the swivel to the body, and floatation means for signaling the surface that the swivel is set. The method of setting an anchor assembly including the steps of lowering an anchor body having cutters on the bottom thereof on the end of a drill string extending through the top of the anchor body and into the bottom for circulation of drilling fluid onto the face of the formation being drilled, the drill string being sealed to the anchor body to prevent entry of water therein, rotating the drill string and anchor body to drill the hole and lower the anchor body into the hole simultaneously, cementing around the exterior of the anchor body, then cementing the interior of the anchor body, lowering a swivel onto the top of the anchor body and signaling the seating of the swivel. This abstract is neither intended to define the invention of the application which, of course, is measured by the claims, nor is it intended to be limiting as to the scope of the invention in any way.