Lay the scallops out on a paper towel and pat dry with another paper towel, let Sit between the paper towels to absorb the moisture for 10 minutes. Don’t skip, it is essential they are dry before searing.
Season the scallops lightly with a sprinkle of paprika on both sides.
Heat a cast iron skillet or stainless steel pan over high heat with butter and oil until its melted hot and shimmering. Place the scallops in the pan one by one, don’t overcrowd. Cook for 2 minutes undisturbed. The scallop will start to turn opaque from the bottom toward the center, use tongs to flip the scallops one by one. They should release easily from the pan and have a golden crust, if not let them cook another minute on that side. There will be some brown bits sticking to the pan, thats ok. Adjust heat lower to medium-high, flip and sear the other side until cooked through, another 1-2 minutes.
Remove the cooked scallops from the pan. Turn the heat off and pour in the water or wine, just enough to shallowly cover the surface of the pan. Turn the heat up to a low-medium flame. Use a rubber spatula or wooden spoon to scrape up brown bits stuck on from the pan, let the liquid simmer and reduce, stirring for 1-2 minutes. Pour the sauce over the scallops, squeeze with lemon juice and eat.