<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR YEAR <FISCAL-YEAR-END> DEC-31-1998 DEC-31-1997 <PERIOD-START> JAN-01-1998 JAN-01-1997 <PERIOD-END> DEC-31-1998 DEC-31-1997 <CASH> 623 3,213 <SECURITIES> 0 0 <RECEIVABLES> 5,946 3,651 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 36,828 18,494 <PP&E> 1,709,487 1,074,929 <DEPRECIATION> 72,153 32,188 <TOTAL-ASSETS> 1,694,582 1,070,891 <CURRENT-LIABILITIES> 128,341 82,839 <BONDS> 653,000 135,000 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 960 956 <OTHER-SE> 865,791 833,703 <TOTAL-LIABILITY-AND-EQUITY> 1,694,582 1,070,891 <SALES> 0 0 <TOTAL-REVENUES> 283,087 0 <CGS> 0 0 <TOTAL-COSTS> 122,469 0 <OTHER-EXPENSES> 93,366 0 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 20,521 0 <INCOME-PRETAX> 46,731 0 <INCOME-TAX> 18,693 0 <INCOME-CONTINUING> 28,038 0 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 28,038 0 <EPS-PRIMARY> 0.29 0 <EPS-DILUTED> 0.29 0