<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MARCH 31, 1998 FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                          14,643
<SECURITIES>                                         0
<RECEIVABLES>                                    9,777
<ALLOWANCES>                                     (439)
<INVENTORY>                                          0
<CURRENT-ASSETS>                                25,746
<PP&E>                                          94,430
<DEPRECIATION>                                 (1,654)
<TOTAL-ASSETS>                                 222,712
<CURRENT-LIABILITIES>                           11,894
<BONDS>                                         85,604
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           100
<OTHER-SE>                                      90,234
<TOTAL-LIABILITY-AND-EQUITY>                   222,712
<SALES>                                              0
<TOTAL-REVENUES>                                17,455
<CGS>                                                0
<TOTAL-COSTS>                                    7,859
<OTHER-EXPENSES>                                 2,275
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                  5,672
<INCOME-TAX>                                   (1,053)
<INCOME-CONTINUING>                              4,619
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,619
<EPS-PRIMARY>                                     0.46
<EPS-DILUTED>                                     0.46