<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM THE FINANCIAL STATEMENTS INCLUDED IN 
THE REGISTRANT'S ANNUAL REPORT ON FORM 10-K FOR THE
YEAR ENDED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>  1,000
       
                                       
<PERIOD-TYPE>                              12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                          36,558
<SECURITIES>                                         0
<RECEIVABLES>                                  429,146
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                      13,674,996
<DEPRECIATION>                               1,492,222
<TOTAL-ASSETS>                              13,725,596
<CURRENT-LIABILITIES>                                0
<BONDS>                                      8,798,388
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    400,000
<COMMON>                                         3,582
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                13,725,596
<SALES>                                      1,444,439
<TOTAL-REVENUES>                             1,632,514
<CGS>                                                0
<TOTAL-COSTS>                                  663,976
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             573,599
<INCOME-PRETAX>                                394,939
<INCOME-TAX>                                   143,165
<INCOME-CONTINUING>                            251,774
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   251,774
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0