<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S FORM 10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1998 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> 1,814 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 307,934 <DEPRECIATION> 0 <TOTAL-ASSETS> 315,920 <CURRENT-LIABILITIES> 8,597 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 139 <OTHER-SE> 250,184 <TOTAL-LIABILITY-AND-EQUITY> 315,920 <SALES> 0 <TOTAL-REVENUES> 6,293 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,853 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (140) <INCOME-PRETAX> 4,580 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 4,580 <EPS-PRIMARY> .33 <EPS-DILUTED> .33