Knowledge base system for an equipment market

• US 7,650,294 B1
• Filed: 07/16/2008
• Issued: 01/19/2010
• Est. Priority Date: 07/30/2001
• Status: Expired due to Fees

• Current Assignee: IHS Global Incorporated (Markit Group Ltd.)
• Original Assignee: ODS-Petrodata, Inc. (S&P Global Inc.)
• Inventors: Carter, Steven, Cochrane, Stuart, Isherwood, Ryan, Lindsay, Jeremy, Bouzek, Mark
• Primary Examiner(s): Jeanty; Romain
• Application Number:
  US12/174,170
• Time in Patent Office: 552 Days
• Field of Search: 705/7
• US Class Current: 705/7.25
• CPC Class Codes: G06Q 10/04 Forecasting or optimisation specially adapted for administrative or management purposes, e.g. linear programming or "cutting stock problem" market predictions or forecasting for commercial activities G06Q30/0202
• CPC Class Codes: G06Q 10/06315 Needs-based resource requirements planning or analysis
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0201 Market modelling; Market analysis; Collecting market data
• CPC Class Codes: G06Q 30/0202 Market predictions or forecasting for commercial activities
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors

Abstract

A system and method for managing and processing supply and demand information in an equipment market comprises a business logic engine, a database and interface engine and communications engine on a web host server. The communications engine is configured to enable the community of participants in the market to send market inquiries from the demand side of the market, and the business logic engine is configured to process market inquiries and responses to include them in the database of supply and demand information. The database is configured to enable the search engine to retrieve all types of data relevant to business planning and executing of equipment contracts and activities from community data and published data. The business logic engine comprises tools for collaboration, calculation, optimization and forecasting in the equipment market. In the exemplary embodiment the equipment is offshore drilling rigs.

Claims

1. A computer implemented system for managing and processing supply and demand information for participants in an equipment market, the system comprising:

a data processor programmed to receive and store electronically received data comprising public information and private information, in a relational database in an electronic storage medium, wherein said relational database comprises a published information portion, a community information portion, and private information portion, and the computer implemented system assigns the information identified as private information an unique requirements reference number and stores the information in the private information portion;

wherein the private portion comprises private demand information of a system user and is selectively accessible to other users of the system; and

wherein the public portion comprises public supply information and public demand information and is accessible to all system users;

a business logic engine comprising computer readable program code executed on a host computer wherein the business logic program code comprises;

a search engine for selectively retrieving data from the database; and

an interface engine for communication between a system user and the data processor and the business logic engine whereby the business logic engine operates on data processed by the data processor and the interface engine displays results of operation by the business logic engine;

a communications engine for enabling demand side subscribers to post public information, private information, or combinations thereof, comprising equipment demand requirements and receive responses from at least one designated group of supply side system users or all supply side system users and simultaneously and for enabling supply side system users to post public information, private information, or combinations thereof, comprising equipment supply information and respond to equipment demand postings from at least one designated group of demand side subscribers or from all demand side subscribers; and

wherein the equipment market comprises drilling and production equipment for oil and natural gas.

2. The system of claim 1, further comprising a personalization tool module wherein a system user can insert specifications that require the system to provide specified updated information related to equipment demand postings, supply data, and market news.

3. The system of claim 1, further comprising computer instructions for instructing the processor to generate equipment comparison reports upon demand of the system user.

4. The system of claim 1, further comprising, computer instructions for instructing the processor to generate equipment supply forecasts, equipment demand forecasts, or combinations thereof.

5. The system of claim 1, further comprising computer instructions for instructing the processor to create equipment deployment plans.

6. The system of claim 1, further comprising computer instructions for instructing the processor to create equipment deployment optimization plans for designated equipment.

7. The system of claim 1 wherein the search engine and communications engine each comprise computer readable program code and wherein the business logic engine further comprises computer readable program code modules selected from the group comprising a personalization tool module, a search engine module, a report engine module, a forecast tool module, an equipment planning tool module, an equipment usage sequences tool module, collaboration tool module, an equipment deployment optimization tool module and a day rate calculation tool module.

8. The system of claim 1, wherein the database is a single database.

9. The system of claim 1, wherein the equipment is offshore drilling rigs and wherein the database further comprises one or more equipment related performance records wherein each record comprises one or more unique equipment identifiers and data associated with the identifiers wherein the associated data comprises equipment performance data selected from the group comprising well specifications, well location, water depth, drilled depth, well angle, hole size, casing design, mud type, displacement, mechanical details, rig name, operator, hole problem incidents, HSE incidents, lost time incidents, downtime incidents, drilling costs, downtime, flat time and total time, stratigraphic description and stratigraphic penetration indices.

10. The system of claim 1, wherein the data base, communications engine and business logic engine are stored on the host computer coupled to the Internet.

11. A method for analyzing supply and demand information in an equipment market having a discrete number of market participants comprising:

creating a database from published information sources containing equipment supply data and equipment demand data;

wherein the database is stored on an electronic storage medium by a data processor that is programmed to receive and store the data on the electronic storage medium;

utilizing computer readable program code to selectively add to the database information received from one or more of the discrete market participants, identify the data as private data or public data in a relational database in the electronic storage medium, and to assign the private data an unique requirements reference number;

wherein the computer readable program code is stored on a host computer;

providing a graphical user interface for the discrete number of market participants to organize and access selected information and to provide public data and private data for inclusion in the database;

wherein the graphical user interface;

creates an interactive chart view, and wherein the interactive chart view is supported solely by the host computer; and

using said host computer for executing analytical tools for operating on the public data or private data in the database wherein the analytical tools include an optimization tool and a forecasting tool for both supply side market participants and demand side market participants;

wherein the analytical tools comprise;

computer readable program code that is executed on; and

wherein the equipment market comprises drilling and production equipment for oil and natural gas.

12. The method of claim 11, wherein the selectively adding step comprises selectively allowing access to the private data.

13. The method of claim 11, wherein the equipment comprises drilling rigs for drilling in underwater formations and wherein the equipment technical specifications and equipment activity information comprises data comprises rig performance information selected from the group comprising well specifications, well location, water depth, drilled depth, well angle, hole size, casing design, mud type, displacement, mechanical details, rig name, operator, hole problem incidents, health, safety and environment (HSE) incidents, lost time incidents, downtime incidents, drilling costs, downtime, flat time and total time, stratigraphic description and stratigraphic penetration indices.

14. The method of claim 11, wherein the equipment technical specifications and equipment activity include mechanical specifications, type of equipment, equipment owner, equipment contractor, current equipment activity, current equipment status, equipment availability date, equipment ownership history, and equipment technical upgrade history.