<PAGE>
 
                              ZAPATA CORPORATION
                   DIVISIONAL REVENUES AND OPERATING RESULTS
                                (in thousands)

<TABLE> 
<CAPTION> 

                                                   Three Months Ended
                                                      December 31,
                                                   ------------------
                                                     1994       1993
                                                   -------    -------
<S>                                                <C>        <C> 
Revenues

Natural gas compression                            $18,163    $12,631
Natural gas gathering and processing                25,031     43,471
Oil and gas                                          2,776      3,437
                                                   -------    -------
                                                   $45,970    $59,539
                                                   =======    =======

Operating income (loss)

Natural gas compression                            $ 1,923    $   987
Natural gas gathering and processing                  (170)       561
Oil and gas                                            410        208
Corporate                                             (833)    (1,418)
                                                   -------    -------
                                                   $ 1,330    $   338
                                                   =======    =======

</TABLE>

 

   The accompanying notes are an integral part of the financial statements. 

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