Finely grate lemon rind, reserving 1/4 teaspoon. Squeeze lemon, reserving 2 tablespoons juice. Pat scallops dry with paper towels.
Sprinkle scallops with 1/8 teaspoon each salt and pepper. Melt 2 teaspoons butter in a large nonstick skillet over medium heat. Add scallops; cook 3 to 4 minutes on each side or until done. Remove scallops from pan; keep warm.
Add wine and reserved lemon juice to pan, and bring to a boil. Reduce heat, and simmer 2 minutes, stirring to loosen browned bits from bottom of pan. Combine water and cornstarch; add to pan. Cook, stirring constantly, 2 minutes or until sauce begins to thicken. Add reserved lemon rind, remaining 1 teaspoon butter, remaining 1/8 teaspoon each salt and pepper, and basil. Remove from heat. Serve over scallops.
Serve with: Buttery Angel Hair Pasta with Parmesan Cheese