An international drilling revival powered a five-fold jump on the bottom line for Pason Systems Corp., but underinvestment in recent years may lead to supply gaps, according to management.

“Our outlook remains positive for continued growth in land-based drilling in North America and across our international markets,” said President Jon Faber.

Pason operates in Canada, the United States, Argentina, Australia, Bolivia, Brazil, Colombia, Dubai, Ecuador, Mexico, Peru and Saudi Arabia. The 44-year-old firm serves as the Calgary-based barometer of oil and gas field activity that supplies rig management systems.

Across North America, Pason calculated that industry field activity that it serves grew by 83% in the fourth quarter of 2021 compared with the same period in...