<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF ROWAN COMPANIES, INC. FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996 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> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> SEP-30-1996 <CASH> 75,233 <SECURITIES> 0 <RECEIVABLES> 114,323 <ALLOWANCES> 0 <INVENTORY> 90,344 <CURRENT-ASSETS> 304,345 <PP&E> 1,314,473 <DEPRECIATION> 797,775 <TOTAL-ASSETS> 857,154 <CURRENT-LIABILITIES> 96,953 <BONDS> 238,402 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 10,872 <OTHER-SE> 460,363 <TOTAL-LIABILITY-AND-EQUITY> 857,154 <SALES> 97,455 <TOTAL-REVENUES> 418,657 <CGS> 80,284 <TOTAL-COSTS> 366,156 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 19,444 <INCOME-PRETAX> 38,703 <INCOME-TAX> 971 <INCOME-CONTINUING> 37,732 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 37,732 <EPS-PRIMARY> 0.43 <EPS-DILUTED> 0.43