<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                          39,258
<SECURITIES>                                   213,465
<RECEIVABLES>                                  180,318
<ALLOWANCES>                                         0
<INVENTORY>                                     30,754
<CURRENT-ASSETS>                               480,668
<PP&E>                                       1,544,633
<DEPRECIATION>                                 297,072
<TOTAL-ASSETS>                               1,963,759
<CURRENT-LIABILITIES>                          108,532
<BONDS>                                        400,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           684
<OTHER-SE>                                   1,249,900
<TOTAL-LIABILITY-AND-EQUITY>                 1,963,759
<SALES>                                              0
<TOTAL-REVENUES>                               204,733
<CGS>                                                0
<TOTAL-COSTS>                                   89,739<F1>
<OTHER-EXPENSES>                                30,688<F2>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 87,014
<INCOME-TAX>                                    30,784
<INCOME-CONTINUING>                             56,230
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    56,230
<EPS-PRIMARY>                                     0.79
<EPS-DILUTED>                                     0.79
<FN>
<F1>Includes contract drilling expenses only.
<F2>Includes other operating expenses.
</FN>