<ARTICLE> 5 <MULTIPLIER> 1,000 <CURRENCY> US DOLLARS <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <EXCHANGE-RATE> 1 <CASH> 29,167 <SECURITIES> 0 <RECEIVABLES> 36,318 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 65,485 <PP&E> 2,929,724 <DEPRECIATION> 29,252 <TOTAL-ASSETS> 3,033,106 <CURRENT-LIABILITIES> 84,508 <BONDS> 1,129,430 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1,669,417 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 3,033,106 <SALES> 0 <TOTAL-REVENUES> 160,799 <CGS> 0 <TOTAL-COSTS> 101,229 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 27,561 <INCOME-PRETAX> 59,570 <INCOME-TAX> 0 <INCOME-CONTINUING> 59,570 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 55,884 <EPS-PRIMARY> 0.54 <EPS-DILUTED> 0.54