Era was a wholly owned division of the Rowan Companies, which is a large oil and gas drilling rig operator.

The Rowan Companies, an oil drilling concern, is down 36 percent.

The rig, being erected by the Rowan Companies of Houston at a cost of $175 million, is the first of its size to be built since 1991.

That particular installation of the Rowan Company was only just showing some profit which would be wiped out by the cost of a perhaps unnecessary expense.

In 1947, the drilling company was reorganized as Rowan Companies, Inc.

In 1994, Rowan Companies acquired the assets of Marathon LeTourneau Company.

Other tenants include Quanta Services and Rowan Companies.

Its board of directors is led by president Paul Kelly, a former senior executive at Rowan Companies, an oil drilling firm.

For example, the shares of both the Rowan Companies and AST Research dropped 11 percent from 1992 to 1994.

Rowan Companies, Houston, 10 million shares.