UPDATE 1-Union Drilling Q3 loss narrower than expected

* Q3 loss $0.17/shr vs. est loss $0.18/shr

* Q3 rev down 57 percent at $35.2 mln

* Expects utilization to rise in Q4

Nov 2 (Reuters) - Oilfield service provider Union Drilling Inc (UDRL.O) posted a narrower-than-expected third-quarter loss, helped by lower costs and expenses.

The company posted quarterly net loss of $4 million, or 17 cents a share, compared with earnings of $5.9 million, or 27 cents a share, last year.

Revenue fell 57 percent to $35.2 million.

Analysts on an average expected a loss of 18 cents a share, on revenue of $36.50 million, according to Thomson Reuters I/B/E/S.

Operating expenses of the company fell 57 percent to $22.3 million for the quarter.

"Operationally, utilization appears to have bottomed in July, and we expect it to continue to rise in the fourth quarter," Chief Executive Christopher Strong said in a statement.

However, he added that the current pricing environment means that an increase in utilization is unlikely to produce any near-term increase in earnings.

Shares of Union Drilling closed at $7.25 Monday on Nasdaq.

For alerts, double-click [ID:nWNAB8548] (Reporting by Arundhati Ramanathan in Bangalore; Editing by Unnikrishnan Nair)