<PAGE>
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED)
 
NOTE 15. INDUSTRY SEGMENT AND GEOGRAPHIC INFORMATION (UNAUDITED)
 
  Zapata's continuing businesses are comprised of three industry segments
operating in the U.S. and one foreign country. The natural gas compression
segment rents, fabricates, sells, installs and services natural gas compressor
packages. The natural gas gathering, processing and marketing segment gathers
and processes natural gas and its constituent products, and markets and trades
in natural gas liquids in the U.S. The oil and gas segment is engaged in the
production of crude oil and natural gas in the U.S. and Bolivia. Export sales
of compressors and related equipment in 1994 totalled $9.9 million. Such sales
were made primarily to Canadian markets.
 
                          INDUSTRY SEGMENT INFORMATION
 

<TABLE>
<CAPTION>
                                                               DEPRECIATION,
                                   OPERATING                     DEPLETION
                                    INCOME       IDENTIFIABLE       AND        CAPITAL
YEAR ENDED SEPTEMBER 30,  REVENUES  (LOSS)          ASSETS     AMORTIZATION  EXPENDITURES
- ------------------------  -------- ---------     ------------  ------------- ------------
                                                (IN THOUSANDS)
<S>                       <C>      <C>           <C>           <C>           <C>
1994
Natural gas services--
 compression............  $ 72,522 $  7,970        $102,626       $ 4,867      $ 8,638
Natural gas services--
 gathering, processing
 and marketing..........   156,141   (1,063)         36,742         1,855        4,083
Oil and gas.............    12,549  (28,285)(2)      20,062        33,770(2)    11,792
Corporate...............             (8,767)         44,444(1)      2,321           67
                          -------- --------        --------       -------      -------
                          $241,212 $(30,145)       $203,874       $42,813      $24,580
                          ======== ========        ========       =======      =======
1993
Natural gas services--
 gathering, processing
 and marketing..........  $186,291 $   (552)       $ 40,871       $   460      $ 1,757
Oil and gas.............    20,189    6,032          41,630         7,688        1,327
Corporate...............             (6,769)        169,888(1)        378            8
                          -------- --------        --------       -------      -------
                          $206,480 $ (1,289)       $252,389       $ 8,526      $ 3,092
                          ======== ========        ========       =======      =======
1992
Oil and gas.............  $ 30,094 $ 11,248        $ 50,191       $10,303      $ 3,963
Corporate...............             (5,076)        170,066(1)        372        3,018
                          -------- --------        --------       -------      -------
                           $30,094 $  6,172        $220,257       $10,675      $ 6,981
                          ======== ========        ========       =======      =======
</TABLE>

- --------
(1) Includes Zapata's investment in Tidewater, a substantial portion of which
    was sold in fiscal 1994 and 1993.
(2) Includes a $29,152,000 provision for oil and gas property valuation as a
    result of low gas prices and a revision of estimated future costs.
 
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