Halliburton Energy Services, Inc.

Erik Lee

Stanley Vernon Stephenson

Harold Grayson Walters

Shahab Jamali Ghare Tape

Disclosed is generating an acquisition request of a component, using a probabilistic model based on current and planned life consumption, to maintain a usable component inventory, by: determining planned consumption of the component; retrieving historical lifetime data associated with the component; determining the associated normalized current life consumed for historical specimens at failure based on a power law equivalency model; determining a probability of survival distribution associated with the component; determine a probability of future failure of each component in inventory given planned consumption of the component; determine a projected number of component failures prior to completion of the job associated with the component; generate the at least one acquisition request to acquire a quantity of new components at least equal to the projected number of specific component failures prior to completion of the job; wherein the usable inventory of the component includes at least the quantity of new components.

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Houston, TX, United States of America

Erik Lee