<PAGE>
EXHIBIT 99
NEWS RELEASE
For more information contact:
STEVE GRANT LAMAR McINTYRE
(713) 439-9400 (713) 940-6100
WEATHERFORD ENTERRA, INC. ZAPATA CORPORATION
1260 POST OAK 1717 ST. JAMES PLACE
SUITE 1000 SUITE 500
HOUSTON, TX 77056 HOUSTON, TX 77056
JOINT PRESS RELEASE FOR IMMEDIATE DISTRIBUTION
WEATHERFORD ENTERRA AND ZAPATA CORPORATION
COMPLETE ENERGY INDUSTRIES TRANSACTION
Houston, Texas December 18, 1995 -- Weatherford Enterra, Inc. (WII/NYSE) and
Zapata Corporation (ZOS/NYSE) today announced the closing of the transaction
whereby Weatherford Enterra purchased from Zapata the assets of its Energy
Industries gas compression division for approximately $130 million in cash and
the assumption of certain current liabilities of an operating nature.
Weatherford Enterra is a Houston, Texas-based diversified international
energy service and manufacturing company that provides products and services
around the world to the oil and gas exploration, production and transmission
industries. Zapata is currently transforming itself from the energy business
into food related businesses.
|