<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-END> MAR-31-1995 <CASH> 20,532,000 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 20,532,000 <PP&E> 1,089,150,000 <DEPRECIATION> (210,881,000) <TOTAL-ASSETS> 932,337,000 <CURRENT-LIABILITIES> 14,893,000 <BONDS> 87,119,000 <COMMON> 3,284,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 277,650,000 <OTHER-SE> 415,498,000 <TOTAL-LIABILITY-AND-EQUITY> 932,337,000 <SALES> 0 <TOTAL-REVENUES> 43,198,000 <CGS> 0 <TOTAL-COSTS> 23,954,000 <OTHER-EXPENSES> 2,701,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,520,000 <INCOME-PRETAX> 13,200,000 <INCOME-TAX> 0 <INCOME-CONTINUING> 13,200,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 13,200,000 <EPS-PRIMARY> .24 <EPS-DILUTED> .24