Satellogic Shares Advance Pre-Bell After Expansion of SynMax Well-Monitoring Contract

MT Newswires Live

2024/12/09

Satellogic (SATL) shares were up more than 30% in premarket activity Monday after it announced an expansion of its contract with US satellite data analytics firm SynMax,

Financial terms were not disclosed.

Under the contrat, SynMax will use Satellogic imagery to improve its Hyperion platform, which delivers oil and natural gas production monitoring for hedge funds and financial analysts, the company said.

Satellogic said it will triple the number of wellheads monitored by SynMax across North America to more than 100 and provide imagery multiple times per week.

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