Canadian Natural Resources Q4 Revenue Estimate
On Bloomberg, 7 analysts had submitted their revenue for Q4-2010. Using the corporate guidance posted on their investor relations page
I used a sensitivity analysis table by using the March-11 contract tables for Natural Gas and Crude Oil prices, 89 USD/bbl for crude, and 4.32 USD/MMBtu. Using the most conservative estimates I forecast CNQ’s Q4 revenue as low as 3.806 and as high as 4,003 Billion USD. Assuming CAD/USD exchange rate as 1.0113 the Revenue in CAD was 3.763 and 3,958 Billion CAD.
Let’s see how close I was on 4 March 2011.