The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Dec. 10, 2024
Filed:
Mar. 12, 2024
Halliburton Energy Services, Inc., Houston, TX (US);
Stanley Vernon Stephenson, Duncan, OK (US);
Harold Grayson Walters, Houston, TX (US);
Shahab Jamali Ghare Tape, Houston, TX (US);
Erik Lee, Houston, TX (US);
Halliburton Energy Services, Inc., Houston, TX (US);
Abstract
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.