Aug 16, 2011
Grizzly Oil Sands, and independent oil sands company, has awarded a $4 million order to Rockwell (NYSE:ROK) and its Global Solutions team.
Global Solutions will use the company's PlantPax process automation system to help Grizzly produce more than 5,000 barrels of oil per day at the first phase of its Algar Lake Project.
The solution supports steam-assisted gravity drainage, an enhanced oil recovery technology for producing heavy crude oil and bitumen.
Rockwell Automation is currently below its 50-day moving average (MA) of $77.93 and below its 200-day MA of $79.74.
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