<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q SEPTEMBER 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAR-31-1997 <PERIOD-END> SEP-30-1996 <CASH> 32,380 <SECURITIES> 0 <RECEIVABLES> 311,480<F1> <ALLOWANCES> 0 <INVENTORY> 54,713 <CURRENT-ASSETS> 0<F2> <PP&E> 2,330,326 <DEPRECIATION> 1,077,193 <TOTAL-ASSETS> 2,817,846 <CURRENT-LIABILITIES> 0<F2> <BONDS> 940,282 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 10,000 <OTHER-SE> 653,030 <TOTAL-LIABILITY-AND-EQUITY> 2,817,846 <SALES> 107,192 <TOTAL-REVENUES> 760,136 <CGS> 62,639 <TOTAL-COSTS> 533,795 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 1,841 <INTEREST-EXPENSE> 35,282 <INCOME-PRETAX> 126,579 <INCOME-TAX> 46,833 <INCOME-CONTINUING> 79,746 <DISCONTINUED> 0 <EXTRAORDINARY> ( 2,004 ) <CHANGES> 0 <NET-INCOME> 77,742 <EPS-PRIMARY> 2.36 <EPS-DILUTED> 2.36 <FN> <F1>THE VALUE FOR RECEIVABLES REPRESENTS THEIR AMOUNTS NET OF THEIR ALLOWANCES. <F2>AN UNCLASSIFIED BALANCE SHEET EXISTS IN THE REGISTRANT'S FINANCIAL STATEMENTS. </FN>