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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.