<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 6/30/96
FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                          29,285
<SECURITIES>                                    12,498
<RECEIVABLES>                                   48,511
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                94,358
<PP&E>                                         651,017
<DEPRECIATION>                                  44,918
<TOTAL-ASSETS>                                 882,281
<CURRENT-LIABILITIES>                           64,052
<BONDS>                                        399,393
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                      8,840
<COMMON>                                           362
<OTHER-SE>                                     269,611
<TOTAL-LIABILITY-AND-EQUITY>                   882,281
<SALES>                                         66,951
<TOTAL-REVENUES>                                66,951
<CGS>                                           19,163
<TOTAL-COSTS>                                   19,163
<OTHER-EXPENSES>                                12,064
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               9,992
<INCOME-PRETAX>                                 26,738
<INCOME-TAX>                                     2,691
<INCOME-CONTINUING>                             24,047
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  (434)
<CHANGES>                                            0
<NET-INCOME>                                    23,613
<EPS-PRIMARY>                                     0.62
<EPS-DILUTED>                                     0.64