<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 928 <SECURITIES> 48,773 <RECEIVABLES> 18,427 <ALLOWANCES> 0 <INVENTORY> 4,506 <CURRENT-ASSETS> 72,634 <PP&E> 1,817,759 <DEPRECIATION> 632,466 <TOTAL-ASSETS> 1,275,513 <CURRENT-LIABILITIES> 72,919 <BONDS> 488,158 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 505,904 <TOTAL-LIABILITY-AND-EQUITY> 1,275,513 <SALES> 0 <TOTAL-REVENUES> 52,820 <CGS> 0 <TOTAL-COSTS> 27,170 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 9,791 <INCOME-PRETAX> 14,933 <INCOME-TAX> 0 <INCOME-CONTINUING> 14,933 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 14,933 <EPS-PRIMARY> 0.50 <EPS-DILUTED> 0.50