A downhole apparatus includes a casing string with a fluid barrier connected therein defining a lower end of a buoyancy chamber. A rupture disk is spaced from the fluid barrier and defines an upper end of the buoyancy chamber. A degradable plug is connected in the casing string above the rupture disk. The degradable plug defines a flow path to permit flow therethrough to the rupture disk, and is movable from a first to a second position in the casing string.