X0202 4 2005-11-15 0 0000085408 ROWAN COMPANIES INC RDC 0001183352 KELLER MARK A 2800 POST OAK BLVD SUITE 5450 HOUSTON TX 77056-6127 0 1 0 0 Senior Vice President COMMON STOCK 2005-11-15 4 M 0 3000 5.25 A 36446 D COMMON STOCK 2005-11-15 4 M 0 5000 19.63 A 41446 D COMMON STOCK 2005-11-15 4 M 0 4000 22.00 A 45446 D COMMON STOCK 2005-11-15 4 M 0 3350 6.19 A 48796 D COMMON STOCK 2005-11-16 4 S 0 2150 34.44 D 46646 D COMMON STOCK 2005-11-16 4 S 0 5200 34.45 D 41446 D COMMON STOCK 2005-11-16 4 S 0 500 34.47 D 40946 D COMMON STOCK 2005-11-16 4 S 0 700 34.49 D 40246 D COMMON STOCK 2005-11-16 4 S 0 500 34.40 D 39746 D COMMON STOCK 2005-11-16 4 S 0 1300 34.38 D 38446 D COMMON STOCK 2005-11-16 4 S 0 3500 34.35 D 34946 D COMMON STOCK 2005-11-16 4 S 0 500 38.44 D 34446 D COMMON STOCK 2005-11-16 4 S 0 500 34.36 D 33946 D COMMON STOCK 2005-11-16 4 S 0 500 34.35 D 33446 D Option(Right to Buy) 15.25 2005-11-15 4 M 0 3000 0 D 1997-04-26 2006-04-26 Common Stock 3000 0 D Option(Right to Buy) 19.63 2005-11-15 4 M 0 5000 0 D 1998-04-25 2007-04-25 Common Stock 5000 0 D Option(Right to Buy) 22.00 2005-11-15 4 M 0 4000 0 D 2002-04-26 2011-04-26 Common Stock 4000 12000 D Option(Right to Buy) 6.19 2005-11-15 4 M 0 3350 0 D 2004-04-25 2013-04-25 Common Stock 3350 10050 D Reflects the Reporting Person's aggregated directly-owned and indirectly-owned shares (4,146), the latter being shares in the Rowan Common Stock Fund under the Company's 401(k) plan (a unitized plan) at September 30, 2005, such number of shares, which fluctuates, being calculated as equivalent values based upon the value of the total units divided by the corresponding closing price of the underlying Rowan Common Stock on that date. This option vested in four installments on April 25, 1997, 1998, 1999 and 2000. This option vested in four installments on April 25, 1998, 1999, 2000 and 2001. This option vests in four installments on April 26, 2002, 2003, 2004 and 2005, with the first being exercised herein. This option vests in four installments on April 25, 2004, 2005, 2006 and 2007, with the first being exercised herein. /s/Mark A. Keller 2005-11-17