Planet Satellites helps SynMax usher in a new transparent energy economy
“Over the next 20 years, the world will move from a hydrocarbon-based economy to a clean energy-based economy. These 20 years are going to be very complicated if we don’t have the right information to reduce one while increasing the other. – Eric Anderson, Chief Technology Officer, SynMax
Power generation is remote and scattered, which has always made it impossible to get up-to-date information on what is happening on the ground.
This lack of insight makes it difficult for energy traders to price and plan energy appropriately, an essential task in the coming energy transition. Improper pricing can have catastrophic consequences, ranging from oversupply that leads to bankruptcies and job losses, to shortages that cause prices to spike, which can have serious consequences, especially during the winter months. winter.
Now SynMaxa satellite data analytics company specializing in using commercial satellite imagery to find and monitor oil and gas assets and provide maritime intelligence data, has a solution that will guide energy traders during this critical time. Hyperion monitors fracking crews from all major oil and gas practices in the United States in near real time, helping to provide the transparency that energy market participants desperately need. With Hyperion, production forecasts will be more accurate because such data has never been used before. For example, data from SynMax has shown that wells rarely start producing immediately after the frac crew leaves, as there is a typical 30-day “rotation in line” (TIL) lag. Since SynMax has determined that this lag is generally constant, they are able to leverage satellite data from Planet to determine the timing of production.
“Hyperion has let people know in real time what production is on the ground in Texas,” said Eric Anderson, CTO of SynMax. ” This is unheard of. It is extremely valuable, and it is possible thanks to satellite imagery.
But not just any constellation of satellites. “No other constellation could have been used to create Hyperion,” Anderson said. “We spent a lot of time looking at the available constellations; did some data sampling with other companies. The problem was that they were all point-and-shoot constellations. Either we would be limited to a certain area of interest or we would have to buy giant images to capture a single well, which was financially untenable.
Eric sees Hyperion beginning to monitor other forms of energy like solar, wind and batteries in the coming years to “give people the most accurate and timely information on infrastructure developments.” global energy. This transition will be difficult; it will take a long time. The way to make it painless is through good information. And the best information comes from Planet’s satellites.
Other Ways SynMax Uses Planet Data
SynMax offers a second product using Planet data: Theia, a maritime intelligence solution. “The fact that it uses PlanetScope, which is constantly collecting images, explains why Theia is such a revolutionary maritime product,” says Anderson. He shares that it is very rare to have information at the exact moment a maritime incident occurs. “A few days later, PlanetScope lets you rewind the tape, so to speak. We can see what has been collected. Competing constellations do not have this capability. They can only collect when they know how to collect there,” he notes. And the black ships? Not anymore. “Anyone who comes to us with a ‘lost’ ship, even if it went missing months ago, Theia can tell you where it is and where it has been – reliably, consistently.” Curious about this job? Read our previous Blog on the project.