October 23, 2012 / 8:26 PM / 5 years ago

Nabors posts small profit rise in U.S. drilling slump

(Reuters) - Nabors Industries Ltd (NBR.N), owner of the world's largest land-drilling rig fleet, reported on Tuesday a small rise in quarterly profit amid a sharp decline in U.S. drilling activity that has weighed down the entire oilfield services sector.

The company's third-quarter net profit rose to $75.7 million, or 26 cents per share, from $74.3 million, or 25 cents per share a year ago. Total revenue rose 2 percent to $1.67 billion.

Reporting by Braden Reddall in San Francisco

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