This article was originally published by TheStreet on October 27, 2014.
By Sarfaraz A. Khan. Research Asst: Omar E.
NEW YORK (TheStreet) -- Nabors Industries (NBR) , the owner of the world's biggest fleet of land-based drilling rigs, can increase earnings more than 45% this year and next year despite tumbling oil prices through a combination of selling non-core assets, international sales and providing rigs to oil companies looking to dig where they can make to the most money now.
Nabors' third-quarter results last week included revenue of $1.81 billion, 17% higher than the same quarter last year, and earnings that swung from a loss of 30 cents a share to a profit from continuing operations of 19 cents a share, beating estimates compiled by Thomson Reuters. Nabors was helped by strong levels of activity in North Dakota's Bakken shale and Texas's Permian Basin.
