<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                         102,958
<SECURITIES>                                   363,137
<RECEIVABLES>                                  205,589
<ALLOWANCES>                                         0
<INVENTORY>                                     33,714
<CURRENT-ASSETS>                               718,775
<PP&E>                                       1,821,906
<DEPRECIATION>                                 370,165
<TOTAL-ASSETS>                               2,298,561
<CURRENT-LIABILITIES>                          131,145
<BONDS>                                        400,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         1,393
<OTHER-SE>                                   1,534,134
<TOTAL-LIABILITY-AND-EQUITY>                 2,298,561
<SALES>                                              0
<TOTAL-REVENUES>                               956,093
<CGS>                                                0
<TOTAL-COSTS>                                  406,343<F1>
<OTHER-EXPENSES>                               129,877<F2>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              10,270
<INCOME-PRETAX>                                430,061
<INCOME-TAX>                                   151,456
<INCOME-CONTINUING>                            278,605
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   278,605
<EPS-PRIMARY>                                     2.01<F3>
<EPS-DILUTED>                                     1.93<F3>
<FN>
<F1>Includes contract drilling expenses only.
<F2>Includes other operating expenses.
<F3>Per share amounts reflect the retroactive effect of the two-for-one stock split
in the form of a stock dividend to stockholders of record on July 24, 1997.
</FN>