<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 1996 AND 1995 AND THE CONSOLIDATED
STATEMENTS OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 1996 AND FOR THE PERIOD
OCTOBER 1995 (INCEPTION OF OPERATION) 1995 THROUGH DECEMBER 31, 1995.
</LEGEND>
<MULTIPLIER> 1000
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   12-MOS                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1995
<PERIOD-START>                             JAN-01-1996             OCT-02-1995
<PERIOD-END>                               DEC-31-1996             DEC-31-1995
<CASH>                                           6,604                   4,769
<SECURITIES>                                         0                       0
<RECEIVABLES>                                    6,829                   4,025
<ALLOWANCES>                                         0                       0
<INVENTORY>                                      1,648                   1,035
<CURRENT-ASSETS>                                     0                       0
<PP&E>                                         641,825                 265,759
<DEPRECIATION>                                  19,815                   2,529
<TOTAL-ASSETS>                                 760,931                 324,224
<CURRENT-LIABILITIES>                           29,280                  11,424
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                       442,540                 264,808
<OTHER-SE>                                      (5,427)                 (1,351)
<TOTAL-LIABILITY-AND-EQUITY>                   760,931                 324,224
<SALES>                                         75,893                  10,582
<TOTAL-REVENUES>                                76,493                  11,095
<CGS>                                                0                       0
<TOTAL-COSTS>                                        0                       0
<OTHER-EXPENSES>                                30,145                   4,098
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                               7,380                   4,089
<INCOME-PRETAX>                                      0                       0
<INCOME-TAX>                                         0                       0
<INCOME-CONTINUING>                             37,991                   6,096
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                    (737)
<CHANGES>                                            0                       0
<NET-INCOME>                                    37,991                   5,359
<EPS-PRIMARY>                                     1.06                     .18
<EPS-DILUTED>                                        0                       0
        

</TABLE>