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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
85408	Rowan Companies Inc	RDC	Drilling Oil & Gas Wells (1381)	750759420

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1183395	H William Wells	2800 Post Oak Blvd Suite 5450 Houston TX 77056	Svp & Cfo	No	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2011-03-02	5,025	$21.19	92,212	No	4	M	Direct
Common Stock	Disposition	2011-03-02	7,368	$42.86	84,844	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee stock option (right to buy)	Disposition	2011-03-02	5,025	$0.00	5,025	$21.19

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2004-04-25	2013-04-25	No	4	M	Direct

Footnotes

Includes 43,745 restricted shares and 13,097 shares held in the savings plan by the reporting person.
This transaction was executed in multiple trades at prices ranging from $42.77 to $42.96. The price reported above reflects the average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
This option vested in four annual installments commencing on April 25, 2004.