ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On December 15, 1995, Zapata Corporation, a Delaware corporation (the
"Company"), closed the previously announced sale of its natural gas compression
business conducted by its two wholly subsidiaries, Energy Industries, Inc. and
Zapata Energy Industries, L.P. (collectively, "Energy Industries"), to
Weatherford Enterra, Inc. ("Weatherford Enterra"). The consideration received
by the Company in connection with the sale was approximately $131 million in
cash and the assumption of certain current liabilities of Energy Industries by
Weatherford Enterra. The cash portion of the consideration represented a
purchase price of $130 million, as adjusted by a closing date net asset
adjustment provided for in the purchase agreement relating to the sale, and is
subject to final post-closing adjustments. The sale was approved by the
Company's stockholders on December 15, 1995.
A copy of the press release dated December 18, 1995 issued by the Company
and Weatherford Enterra relating to the closing of the sale is attached as
Exhibit 99 hereto and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(b) PRO FORMA FINANCIAL INFORMATION
The financial information set forth in "Unaudited Pro Forma Consolidated
Financial Statements" is incorporated by reference from pages 20 through 25
of the Company's Proxy Statement dated November 13, 1995.
99 Press Release dated December 18, 1995.