<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF ROWAN COMPANIES, INC. FOR THE YEAR ENDED
DECEMBER 31, 1994 INCLUDED IN ITS 1994 ANNUAL REPORT TO STOCKHOLDERS AND
INCORPORATED BY REFERENCE IN THIS ANNUAL REPORT ON FORM 10-K AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               DEC-31-1994
<CASH>                                      $  111,070
<SECURITIES>                                         0
<RECEIVABLES>                                   78,317
<ALLOWANCES>                                         0
<INVENTORY>                                     59,386
<CURRENT-ASSETS>                               253,705
<PP&E>                                       1,244,103
<DEPRECIATION>                                 737,982
<TOTAL-ASSETS>                                 805,179
<CURRENT-LIABILITIES>                           57,760
<BONDS>                                        248,504
<COMMON>                                        10,717
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     431,630
<TOTAL-LIABILITY-AND-EQUITY>                   805,179
<SALES>                                         90,460
<TOTAL-REVENUES>                               438,159
<CGS>                                           72,717
<TOTAL-COSTS>                                  439,566
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              27,530
<INCOME-PRETAX>                               (22,520)
<INCOME-TAX>                                       469
<INCOME-CONTINUING>                           (22,989)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (22,989)
<EPS-PRIMARY>                                   (0.27)
<EPS-DILUTED>                                   (0.27)