<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's 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-31-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                          69,946
<SECURITIES>                                   589,068
<RECEIVABLES>                                  200,153
<ALLOWANCES>                                         0
<INVENTORY>                                     36,093
<CURRENT-ASSETS>                               931,274
<PP&E>                                       2,140,785
<DEPRECIATION>                                 528,023
<TOTAL-ASSETS>                               2,661,628
<CURRENT-LIABILITIES>                          175,072
<BONDS>                                        400,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         1,393
<OTHER-SE>                                   1,787,238
<TOTAL-LIABILITY-AND-EQUITY>                 2,661,628
<SALES>                                              0
<TOTAL-REVENUES>                               228,037
<CGS>                                                0
<TOTAL-COSTS>                                  110,718<F1>
<OTHER-EXPENSES>                                41,533<F2>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               3,332
<INCOME-PRETAX>                                 79,712
<INCOME-TAX>                                    27,894
<INCOME-CONTINUING>                             51,818
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    51,818
<EPS-PRIMARY>                                     0.38
<EPS-DILUTED>                                     0.37
<FN>
<F1>Includes contract drilling expenses only.
<F2>Includes other operating expenses.
</FN>