A method for producing fluid from a subterranean formation includes configuring a body to at least partially fill with a selected fluid; and actuating a flow restriction element using the body. The selected fluid may be water. An apparatus for controlling flow of a fluid into a wellbore tubular may include a selectively buoyant body, and a flow restriction element responsive to a movement of the selectively buoyant body. The selectively buoyant body includes a membrane configured to block a flow of hydrocarbons into the selectively buoyant body. The flow restriction element may include a flapper, a sliding sleeve, and a poppet valve. The body may be at least partially filled with a permeable material, which includes, but is not limited to, open-cell foam, reticulated metal foam, shaped sintered powder and capillary tubes.