Solutions
Underwrite assets
you will never stand on.
For banks, hedge funds, infrastructure investors and risk teams.
Construction and operating evidence that does not come from the sponsor, so delays and underperformance surface before a covenant test or a quarterly mark.
The Gap
Your exposure is physical. Your reporting is not.
Sponsor updates, borrower reports and quarterly filings all come from the party with the most to gain from how they read. Observation is the independent check.
Independent of the sponsor
Early warning
Portfolio-wide
Audit-ready
In Practice
Check the sponsor update.
A sponsor update reports the schedule the sponsor wants to show. Observed construction marks each stage on site, so a build that has stopped changing reads as delayed before it reaches a covenant test or a quarterly mark.
Each finding carries the observation behind it, which is what an investment committee or a regulator will ask for.
Production Against Guidance
Mark the position before the quarter does.
For producing assets, observed production runs ahead of filings and borrower reports, so a trend against guidance shows up before it reaches a quarterly mark.
Every asset in the book is watched on the same basis, so risk compares cleanly across positions and against peers.
On Your Desk
What a risk team gets.
In the Platform
Your book, by stage.
Every project you hold, with its observed stage set against the date it was reported on.
Use Cases
The questions this desk asks.
Is this project on the schedule the sponsor reported?
How is this operator’s production trending against guidance?
Which assets in our book look delayed?
Where does observed activity contradict the borrower’s report?
How does this asset compare with its peers?
What has changed at this site since our last review?
Capabilities
What answers them.
Vulcan
Construction & Project Completion
Which announced projects have broken ground, which have stalled, and when each is likely to come online.
Hyperion
Production Monitoring & Forecasting
Well-level production history and forward forecasts across US oil and gas, with natural gas supply and demand balances that move as field activity does.
Hyperion · BasinIQ
Drilling & Completion Activity
Rigs, frac crews, DUCs and completions counted from observation, so activity surfaces before it reaches a filing.
FAQ
Questions buyers ask.
Why is observation more reliable than borrower reporting?
Borrower reports and sponsor updates come from the party with the most to gain from how they read. Observation is independent of the sponsor.
Which assets can you cover?
Physical energy assets: projects under construction, operating plants and facilities, and producing oil and gas acreage.
How early do problems show up?
Delays and underperformance surface in the observed record before they reach a covenant test or a quarterly mark.
Can it compare an asset with its peers?
Yes. Every asset is watched on the same basis, so performance compares across a book and against peers.
What evidence comes with a finding?
The observation behind it, so an investment committee or a regulator can see what the conclusion rests on.
How do I get the data?
In the platform, through agents, by API, in Snowflake or in Excel, so the answer arrives in the system your team already uses.
Get Started
Run it against a position you hold.
Bring an asset or a book and we will show you the observed record next to what has been reported to you.