Material selection for downhole applications has become more difficult as the number of alloys continues to increase.  On one hand, stainless steels like 316 offer a relatively low initial cost, but are not suited for many severe applications or environments.  Other alloys, like MP35N, offer considerable strength and corrosion resistance, but with a much higher cost.  Thus, an attempt has been made to create an alloy that spans the considerable gap between the 300 series of stainless steels and the nickel or cobalt base alloys.  The resulting 6% Mo stainless steels offered increased strength and corrosion resistance without a drastic cost increase.  The first generation of superaustenitics still falls considerably short of the strength and corrosion resistance provided by established nickel or cobalt-base alloys.  In an attempt to further bridge the remaining gap, a new superaustenitic stainless steel has been developed that maintains the attractive cost of the 6% Mo alloys, but enhances both corrosion resistance and strength to open up environments that were too severe for 6% Mo alloys.  The development of this alloy along with localized corrosion resistance, qualification testing, and mechanical testing are discussed.