<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> DEC-31-1996 <CASH> 234 <SECURITIES> 0 <RECEIVABLES> 4,611 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,458 <PP&E> 208,190 <DEPRECIATION> 11,508 <TOTAL-ASSETS> 203,502 <CURRENT-LIABILITIES> 7,542 <BONDS> 42,800 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 158 <OTHER-SE> 141,655 <TOTAL-LIABILITY-AND-EQUITY> 203,502 <SALES> 0 <TOTAL-REVENUES> 26,611 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 10,255 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,665 <INCOME-PRETAX> 13,002 <INCOME-TAX> 0 <INCOME-CONTINUING> 13,002 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 13,002 <EPS-PRIMARY> 1.00 <EPS-DILUTED> 0