<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, 1998 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>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                         116,617
<SECURITIES>                                         0
<RECEIVABLES>                                  124,527
<ALLOWANCES>                                         0
<INVENTORY>                                    108,328
<CURRENT-ASSETS>                               398,344
<PP&E>                                       1,592,179
<DEPRECIATION>                                 852,922
<TOTAL-ASSETS>                               1,143,397
<CURRENT-LIABILITIES>                           76,732
<BONDS>                                        238,135
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        11,042
<OTHER-SE>                                     687,181
<TOTAL-LIABILITY-AND-EQUITY>                 1,143,397
<SALES>                                         35,810
<TOTAL-REVENUES>                               183,914
<CGS>                                           24,892
<TOTAL-COSTS>                                  119,397
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 852
<INCOME-PRETAX>                                 65,975
<INCOME-TAX>                                    23,216
<INCOME-CONTINUING>                             42,759
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    42,759
<EPS-PRIMARY>                                     0.49
<EPS-DILUTED>                                     0.48