Nick Purday, IT director of emerging digital technology for ConocoPhillips, presented at the Reuters Events Data-Driven Oil and Gas Conference 2023 to help dispel any myths about digital twins. Photo courtesy of Shuttershock.

As Nick Purday, IT director of emerging digital technology for ConocoPhillips, began his presentation at the Reuters Events Data-Driven Oil and Gas Conference 2023 in Houston yesterday, he lamented at missing the opportunity to dispel any myths about digital twins given his second-to-last time slot of the conference.

He may have sold himself short.

No less than a hush fell over the crowd as Purday described one of the more challenging applications of digital twins his team tackled late last year. Purday explained, “The large diagram [up there], that’s two trains from our LNG facility. How long did that take to build? We built that one in a month.”

It’s been years since an upstream oil and gas audience has gasped, but Purday swept the crowd with admiration for the swift, arduous task undertaken by his team.

He then addressed the well-known balance of good/fast/cheap in a rare glimpse under the hood of project planning for such novel technology. “As soon as you move into remote visualization applications – think Alaska, think Norway – then you’re going to get a pretty good return on your investment. Think 3-to-1,” Purday explains. “As you would expect, those simulation digital twins, those are the ones where you get huge value. Optimizing the energy requirements of an LNG facility – huge value associated with that.

“Independently, Forrester did some work recently and came up with a 4-to-1 return, so that fits exactly with our data set,” Purday continued before casually bringing up the foundation for their successful effort.

“If you’ve got good data, then it doesn’t take that long and you can do these pretty effectively,” Purday stated plainly.

Another wave of awe rippled across the room.

In an earlier panel session, Nathan McMahan, data strategy chief at CoP, commented on the shared responsibility model for data in the industry. “When I talked to a lot of people across the organization, three common themes commonly filtered up: What’s the visibility, access, and trust of data?” McMahan observed.

Strong data governance stretches across the organization, but the Wells team, responsible for drilling and completions activity, stood out to McMahan with its approach to data governance.

“They had taken ownership of [the] data and partnered with business units across the globe to standardize best practices between some of the tools and data ingestion methods, even work with suppliers and contractors, [to demonstrate] our expectations for how we take data,” McMahan explained. “They even went a step further to bring an IT resource onto their floor and start to create roles of the owners and the stewards and the custodians of the data. They really laid that good foundation and built upon that with some of the outcomes they wanted to achieve with machine learning techniques and those sorts of things.“

The key, McMahan concluded, is making the “janitorial effort [of] cleaning up data sustainable… and fun.”

The sentiment of fun continued in Purday's late afternoon presentation as he explained how the application went viral upon sharing it with 1 or 2 testers, crashing the email of the lead developer responsible for managing the model as he was flooded with questions and kudos.

Digital twin applications significantly reduce the carbon footprint created by sending personnel to triage onsite concerns for LNG, upstream, and refining facilities in addition to streamlining processes and enabling tremendous savings. The application Purday described allowed his team to discover an issue previously only resolved by flying someone to a remote location where they would likely spend days testing and analyzing the area to diagnose the problem.

The digital twin found the issue in 10 minutes, and the on-site team resolved the problem within the day.

The LNG operations team now consistently starts their day with a bit of a spark, using the digital twin during morning meetings to help with planning and predictive maintenance.

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Houston carbon removal company secures $35M in financing

national scale

Houston-based Vaulted Deep, a waste management and carbon removal company, has announced a major $35 million debt facility from Italian investment bank Mediobanca to support its national expansion.

U.K.-based market energy solutions CFP Energy arranged the deal, which is “the largest publicly disclosed U.S. commercial debt deal in durable carbon removal to be secured by long-term purchase contracts,” according to a news release from the companies.

The financing will support new waste disposal sites for Vaulted Deep and advancements of the company’s AI-enabled site development platform. The platform helps identify locations, navigate permitting and optimize injection operations. When candidates are looking for sites, the platform will pull from regulatory, geology and waste-supply data to assist, which Vaulted Deep says will help streamline the permitting process. After the site is operating, the platform helps control algorithms to maximize safe disposal capacity and monitor the process along the way.

"Waste operators across the country need new options as traditional disposal options become limited,” Julia Reichelstein, CEO and co-founder of Vaulted Deep, said in the release. “This financing lets us take on more projects and invest in the tools that help us evaluate and develop new sites faster. This is a meaningful milestone for Vaulted as we move into the next phase of building infrastructure at a much larger scale."

The deal is supported by Vaulted Deep's long-term waste service and carbon removal purchase contracts. The company says it delivered more than 20,000 tons of carbon removal to buyers in the first half of 2026, which is more than it delivered in all of 2025.

"By facilitating these types of transactions, we connect institutional capital with innovative climate technologies, helping accelerate the deployment of high-integrity carbon removal solutions,” Tyler Manchester, head of voluntary carbon for CFP Energy, added in the release. “It reflects growing investor confidence in these solutions, driven by rising demand from corporate buyers seeking permanent pathways to support net-zero commitments and long-term climate strategies."

Beyond the facility, Vaulted Deep has secured $48 million in equity financing in addition to its $8 million from the XPRIZE Carbon Removal competition, backed by Elon Musk’s charitable organization, The Musk Foundation.

The company's well injection technology is used to store organic waste deep underground in stable geologic formations. In 2025, it inked a 12-year deal with Microsoft to remove up to 4.9 million metric tons of carbon dioxide from the environment.

8+ must-attend Houston energy transition events in October 2026

Must-Attend Meetings

Editor's note: October is here, and there are many energy events to plug into in Houston this month. From summits and forums to exhibitions and networking opportunities, these are the top events to put on your calendar. Learn more below, and register now.

Oct. 6-7: Hydrogen Americas Summit and Exhibition

Hydrogen Americas delivers an unparalleled opportunity to explore how hydrogen integrates with CCUS and other energy solutions under the new U.S. and Americas energy paradigm. This event moves to Houston in 2026, providing unmatched access to industry leaders and opportunities. The summit will include CCUS dedicated sessions integrated directly into the conference programming, providing deeper insights into carbon capture, utilization, and storage. Look forward to networking opportunities to connect with global suppliers, regional developers, and key policymakers.

This event begins Oct. 6 at George R. Brown Convention Center. Register here.

Oct. 6-7: Annual Energy Summit — Energy, Risk, and Geopolitics

The 10th annual energy summit is co-hosted by Baker Botts and the Center for Energy Studies at Rice University's Baker Institute. This year's summit, “Energy, Risk, and Geopolitics,” will explore how a changing geopolitical landscape and shifts in supply chain risks are impacting investment, innovation, and market dynamics. The two-day program will include discussions spanning petroleum and LNG markets, critical minerals, electricity reliability, AI, and power demand.

This event begins Oct. 6 at 7:30 am at James A Baker III Hall. The event will also be livestreamed. Register here.

Oct. 7: Industrial Data Forward Forum 2026

Houston continues to sit at the intersection of energy, chemical production, and advanced manufacturing. Industrial data experts, automation engineers, and enterprise architects will gather for this one-day forum to address one of the region's biggest operational challenges: modernizing massive, legacy industrial plants without incurring high costs.

This event takes place Oct. 7 at Norris Conference Center. Register here.

Oct. 14: Houston Engineering, Energy & Transportation Networking Event

Connect with leading engineers, energy experts, environmental innovators, and transportation professionals during an evening of collaboration, insight, and opportunity. This exclusive event is designed for engineers, project developers, renewable energy specialists, urban planners, environmental consultants, and infrastructure leaders eager to expand their networks, exchange ideas, and explore solutions driving the future of sustainable development.

This event takes place on Oct. 14 at 7 pm at SOHO Garden. Get tickets here.

Oct. 14: Future of Global Energy Conference

This October, the sixth annual Future of Global Energy Conference kicks off, convening influential leaders from across energy, technology, finance and public policy who will come together to explore the forces defining the next era of global energy and Houston’s role in shaping it. Ryan Lance, Executive Chairman of ConocoPhillips and 2027 Chair of the Greater Houston Partnership’s Board of Directors, is the keynote speaker, bringing a global perspective on rising demand, market volatility and Houston’s role in the next era of energy growth.

This event takes place Oct. 14 at Marriott Marquis. Register here.

Oct. 17: Energy Day 2026

Energy Day Houston is the nation’s largest free, family-friendly STEM festival. It features over 50 interactive exhibits and live demonstrations focused on traditional and emerging energy career paths to power up your curiosity.

This event begins at 11 am on Oct. 17 at Sam Houston Park. Get details here.

Oct. 22: Geophysical Society of Houston Fall Forum

This one-day event will explore how geophysics continues to drive value in hydrocarbon development while opening new opportunities in geothermal, critical minerals, mining, microseismic monitoring, and other emerging subsurface applications. The forum will highlight both the technologies and business strategies needed to succeed in a rapidly evolving energy landscape.

This event begins at 7 am on Oct. 22 at SLB. Get details here.

Oct. 28-29: Energy Council Houston 2026

Energy Council Houston is a private executive forum for leaders across the U.S. upstream oil and gas sector. Over two days, operators, investors, financiers, and strategic partners will come together to discuss the issues shaping capital allocation, energy security, M&A activity, and energy investment across North America.

This event begins Oct. 28 at the Four Seasons Hotel Houston. Register here.