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

<TABLE> 
<CAPTION> 
                                         Three Months Ended   Six Months Ended
                                              March 31,           March 31,
                                         ------------------   ----------------
                                           1995      1994       1995     1994
                                         -------    -------   -------  --------
<S>                                      <C>        <C>       <C>      <C> 
Revenues:   

  Natural gas compression                $15,594    $15,433   $33,757  $ 28,064
  Natural gas gathering and processing    20,289     35,028    45,320    78,499
  Oil and gas                              2,244      2,824     5,020     6,261
                                         -------    -------   -------  --------
                                         $38,127    $53,285   $84,097  $112,824
                                         =======    =======   =======  ========
Operating income (loss):
  Natural gas compression                $ 1,174    $ 1,395   $ 3,097  $  2,382
  Natural gas gathering and processing      (273)      (784)     (443)     (223)
  Oil and gas                               (192)       432       218       640
  Corporate                               (1,105)    (1,818)   (1,938)   (3,236)
                                         -------    -------   -------  --------
                                         $  (396)   $  (775)  $   934  $   (437)
                                         =======    =======   =======  ========
</TABLE>

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

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