<ARTICLE> 5 <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> DEC-31-1996 <EXCHANGE-RATE> 1 <CASH> 142,000 <SECURITIES> 0 <RECEIVABLES> 5,210,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 169,856,000 <DEPRECIATION> (16,919,000) <TOTAL-ASSETS> 160,079,000 <CURRENT-LIABILITIES> 0 <BONDS> 60,051,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 109,000 <OTHER-SE> 80,692,000 <TOTAL-LIABILITY-AND-EQUITY> 160,079,000 <SALES> 0 <TOTAL-REVENUES> 15,084,000 <CGS> 0 <TOTAL-COSTS> 7,892,000 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,558,000 <INCOME-PRETAX> 5,634,000 <INCOME-TAX> 5,634,000 <INCOME-CONTINUING> 5,634,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 5,634,000 <EPS-PRIMARY> 0.71 <EPS-DILUTED> 0