<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF ROWAN COMPANIES, INC. FOR THE SIX MONTHS ENDED JUNE 30, 1997 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> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> JUN-30-1997 <CASH> 66,510 <SECURITIES> 0 <RECEIVABLES> 124,370 <ALLOWANCES> 0 <INVENTORY> 102,627 <CURRENT-ASSETS> 306,824 <PP&E> 1,421,292 <DEPRECIATION> 821,702 <TOTAL-ASSETS> 939,459 <CURRENT-LIABILITIES> 83,907 <BONDS> 253,734 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 10,958 <OTHER-SE> 534,318 <TOTAL-LIABILITY-AND-EQUITY> 939,459 <SALES> 68,620 <TOTAL-REVENUES> 309,550 <CGS> 51,387 <TOTAL-COSTS> 251,528 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 9,431 <INCOME-PRETAX> 51,922 <INCOME-TAX> 3,711 <INCOME-CONTINUING> 48,211 <DISCONTINUED> 0 <EXTRAORDINARY> 3,478 <CHANGES> 0 <NET-INCOME> 44,733 <EPS-PRIMARY> 0.51 <EPS-DILUTED> 0.51