<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, 1995 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> 1000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               MAR-31-1995
<CASH>                                         $99,068
<SECURITIES>                                         0
<RECEIVABLES>                                   67,408
<ALLOWANCES>                                         0
<INVENTORY>                                     69,576
<CURRENT-ASSETS>                               246,955
<PP&E>                                       1,249,776
<DEPRECIATION>                                 749,537
<TOTAL-ASSETS>                                 790,859
<CURRENT-LIABILITIES>                           66,888
<BONDS>                                        248,429
<COMMON>                                        10,722
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     410,965
<TOTAL-LIABILITY-AND-EQUITY>                   790,859
<SALES>                                         29,023
<TOTAL-REVENUES>                                92,797
<CGS>                                           24,088
<TOTAL-COSTS>                                  110,023
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               6,912
<INCOME-PRETAX>                                (21,802)
<INCOME-TAX>                                       (67)
<INCOME-CONTINUING>                            (21,735)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (21,735)
<EPS-PRIMARY>                                    (0.26)
<EPS-DILUTED>                                    (0.26)