The award of a NASA contract worth up to $4.82 billion has cemented Intuitive Machines Inc.’s position as a key partner in the space agency’s ambitious plans for lunar exploration, according to analyst firm Benchmark.

To establish a permanent base on the Moon and explore its surface, NASA needs a 21st century communications infrastructure. It chose a small Houston, Texas-based commercial space company to do the job.

Shares of Intuitive Machines blasted off nearly 60% Wednesday, a day after the space travel support firm received a NASA contract worth up to $4.82 billion.