<ARTICLE> 5 <LEGEND> THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF ROWAN COMPANIES, INC. FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1997 INCLUDED IN ITS FORM 10-Q FOR THE QUARTERLY PERIOD THEN ENDED AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCES TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> SEP-30-1997 <CASH> 117,426 <SECURITIES> 0 <RECEIVABLES> 134,593 <ALLOWANCES> 0 <INVENTORY> 110,257 <CURRENT-ASSETS> 373,105 <PP&E> 1,459,823 <DEPRECIATION> 832,987 <TOTAL-ASSETS> 1,033,252 <CURRENT-LIABILITIES> 92,588 <BONDS> 274,374 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 11,005 <OTHER-SE> 592,575 <TOTAL-LIABILITY-AND-EQUITY> 1,033,252 <SALES> 107,879 <TOTAL-REVENUES> 505,006 <CGS> 80,608 <TOTAL-COSTS> 383,270 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 13,369 <INCOME-PRETAX> 113,059 <INCOME-TAX> 10,561 <INCOME-CONTINUING> 102,498 <DISCONTINUED> 0 <EXTRAORDINARY> 3,478 <CHANGES> 0 <NET-INCOME> 99,020 <EPS-PRIMARY> 1.12 <EPS-DILUTED> 1.11