EXHIBIT 21



                         SUBSIDIARIES OF THE REGISTRANT



     The following is a list of subsidiaries of the Registrant:

              Registrant and Parent:
               Rowan Companies, Inc.

              Wholly-Owned Subsidiaries of Registrant:
                Era Aviation, Inc., a Washington corporation
                Rowan International, Inc., a Panamanian corporation
                Rowandrill, Inc., a Texas corporation
                Rowan Drilling Company, Inc., a Texas corporation
                Atlantic Maritime Services, Inc., a Texas corporation
                LeTourneau, Inc., a Texas corporation



      Note:    Certain subsidiaries have been omitted from this listing because
               such subsidiaries, when considered in the aggregate as a single
               subsidiary, would not constitute a significant subsidiary.