09:05 AM EST, 12/09/2024 (MT Newswires) -- 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 ( SATL ) imagery to improve its Hyperion platform, which delivers oil and natural gas production monitoring for hedge funds and financial analysts, the company said.

Satellogic ( SATL ) 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.