<ARTICLE>      5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF ROWAN COMPANIES, INC. FOR THE THREE MONTHS
ENDED MARCH 31, 1999 INCLUDED IN ITS FORM 10-Q FOR THE QUARTERLY PERIOD THEN
ENDED AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER>    1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                         106,652
<SECURITIES>                                         0
<RECEIVABLES>                                   72,233
<ALLOWANCES>                                         0
<INVENTORY>                                    107,451
<CURRENT-ASSETS>                               311,401
<PP&E>                                       1,825,107
<DEPRECIATION>                                 895,386
<TOTAL-ASSETS>                               1,247,542
<CURRENT-LIABILITIES>                           72,281
<BONDS>                                        324,694
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        11,099
<OTHER-SE>                                     707,423
<TOTAL-LIABILITY-AND-EQUITY>                 1,247,542
<SALES>                                         19,128
<TOTAL-REVENUES>                               100,053
<CGS>                                           15,516
<TOTAL-COSTS>                                  114,257
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,919
<INCOME-PRETAX>                                (14,701)
<INCOME-TAX>                                    (4,699)
<INCOME-CONTINUING>                            (10,002)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (10,002)
<EPS-PRIMARY>                                    (0.12)
<EPS-DILUTED>                                    (0.12)