<ARTICLE> 5
<MULTIPLIER> 1,000
       
                                                  
<PERIOD-TYPE>                   12-MOS                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1997
<PERIOD-START>                             JAN-01-1996             JAN-01-1997
<PERIOD-END>                               DEC-31-1996             DEC-31-1997
<CASH>                                           2,105                  63,394
<SECURITIES>                                     8,515                   1,956
<RECEIVABLES>                                      730                   2,185
<ALLOWANCES>                                         0                       0
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                                12,393                  72,039
<PP&E>                                         113,032                 204,546
<DEPRECIATION>                                     674                   2,477
<TOTAL-ASSETS>                                 130,507                 298,305
<CURRENT-LIABILITIES>                           38,765                  31,078
<BONDS>                                         32,683                 126,212
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                           110                     156
<OTHER-SE>                                      58,949                 140,859
<TOTAL-LIABILITY-AND-EQUITY>                   130,507                 298,305
<SALES>                                         18,949                  48,673
<TOTAL-REVENUES>                                18,949                  48,673
<CGS>                                           18,907                  45,900
<TOTAL-COSTS>                                   18,907                  45,900
<OTHER-EXPENSES>                                 (107)                 (4,493)
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                                   0                     930
<INCOME-PRETAX>                                    149                   6,336
<INCOME-TAX>                                         0                   2,127
<INCOME-CONTINUING>                                149                   4,209
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                       149                   4,209
<EPS-PRIMARY>                                      .02                     .35
<EPS-DILUTED>                                      .01                     .34