8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 27, 2007

ROWAN COMPANIES, INC.

(Exact name of registrant as specified in its charter)

DELAWARE	1-5491	75-0759420
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	file Number)	Identification No.)

2800 POST OAK BOULEVARD
SUITE 5450
HOUSTON, TEXAS	77056-6127
(Address of principal executive offices)	(zip code)

(713) 621-7800

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))

Item 7.01 - Regulation FD Disclosure

The following information is disclosed pursuant to Item 7.01- Regulation FD Disclosure:

Atached as Exhibit 99 is a presentation by Rowan Companies, Inc. on February 27, 2007.

Item 9.01 - Financial Statements and Exhibits

(c) Exhibits

Exhibit
Number	Exhibit Description
99	Presentation of Rowan Companies, Inc. dated February 27, 2007

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

       ROWAN COMPANIES, INC.

                              By: /s/ W. H. WELLS_________________

        W. H. Wells,

        Vice President - Finance and Chief Financial Officer

Dated: February 27, 2007

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INDEX TO EXHIBITS

Exhibit
Number	Exhibit Description
99	Presentation of Rowan Companies, Inc. dated February 27, 2007

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EX-99.2

Exhibit 99

C & S

America: 83%

US GOM: 76%

Mexico: 100%

West Africa: 96%

North Sea: 100%

Middle East: 97%

SE Asia: 97%

Contracted

Not Contracted

68

 27

3

35

24

1

88

3

33

1

15

22

0

Worldwide Jack-up Supply / Demand

Worldwide Utilization: 91%

0

Indian Ocean: 100%

31

0

Rowan Fleet:

U.S. GOM          9

Middle East      8

North Sea         3

Trinidad            1

Total                21

Med/Black Sea: 94%

15

1

2 jack-ups

2-3 jack-ups

2-5 jack-ups

4-5 jack-ups

2-3 jack-ups

2-3 jack-ups

3-4 jack-ups

1 jack-up

Total average supply deficits range from 18-26 jack-ups

Supply Deficits

Current Regional Dayrates

Middle East: Dayrates in the region range from $90,000 - $195,000 for 300’ and 350’ IC

North Sea: Dayrates in the region range from $185,000 to $240,000 for UK standard jack-ups and $200,000 to $310,000 for UK high-spec jack-ups. In the Norwegian sector, dayrates range from $200,000 - $330,000

U.S. Gulf of Mexico: Dayrates in the regions range from:

                                        250’IC $70,000 - $150,000

                                        300’IC$65,000 - $130,000

                                        350’IC$90,000 - $170,000

                                       >350’IC$125,000 - $225,000

West Africa: Dayrates in the region range from the high $180s for standard 300’ jack-ups on term contract to the $210s for short term contracts. Standard 250’ jack-ups are estimated in the $190s for
short term contracts

Southeast Asia: Dayrates in the region range from $205,000 to $225,000 for newbuild jack-ups and $185,000 - $210,000 for standard 300’IC

India: Current dayrate fixtures in the region range from $75,000 - $185,000 for 300’IC/ 350’IC

Mediterranean: Dayrates in the region range from $160,000 to $170,000 for 300’ IC

Mexico: New dayrate fixtures in the region range from 167,000 - $171,000 for 300’IC and $171,000 - $186,000 for 350’IC

Forestry & Mining

Mining Distribution

Forestry Distribution

Drilling Products Distribution

LeTourneau Technologies, Inc. – Worldwide Operations