NATCHEZ — While the price of a barrel of oil is about predictable as the weather, two local companies based on the black stuff aren’t worried about its recent drop in price.

On Friday the price of a barrel of oil was approximately $43 — and that’s not good news for Rentech.

Rentech’s Vice President of Senior of Corporate Communications and Government Affairs Tom Sayles said for the company to be economically viable the price needs to be closer to $60 per barrel.

And while most people don’t regularly follow the price of oil, Rentech officials do, and they’re banking on a spike.

Sayles said Rentech’s workers that follow oil studies are confident the price of oil will eventually rise, and maintain, a price per barrel that makes their product financially sound.

Sayles said according to projections he’s seen from the Energy Information Administration, a group which translates energy related statistics provided by the government, the price of oil will sustain a price of between $80-$100 per barrel.

And that’s good news for Rentech.

“We’re not focused on the price of oil today,” Sayles said. “But long-term we think this is a viable option. We think we have a viable product.”

But just how long it will be before Rentech is churning out their ultra-clean diesel, Sayles couldn’t say.

He said the company’s current focus is locating investors to help back the Natchez plant.

And while previous estimates don’t call for the plant to open until 2012, Sayles said none of the tentative investors Rentech has been in contact with are concerned with the price of oil.

“They understand the market is going to change,” he said. “The current price won’t hold, and many believe (prices) will be higher than today.”

And not only are Rentech officials taking the current oil market in stride, but local officials also said they’re not worried with the current price per barrel.

Adams County Supervisor Darryl Grennell, who has worked with Rentech since they first scouted the county, said he’s not worried about the current oil market.

“I believe they’re going to be fine,” Grennell said.

Grennell, like Sayles, also said he feels confident the price of oil will go back up to a price that makes Rentech’s product financially sound.

And while Rentech is the only company of its kind in the region, other oil-based businesses are also not fretting over the current market.

The price of oil per barrel would have to fall below $36 before Denbury Resources would no longer be turning a profit.

The Cranfield-based company gathers oil from previously drilled wells by injecting them with carbon dioxide.

Rentech officials have said Denbury has committed to purchase their CO2 for their oil recovery.

So for now, Bob Cornelius, senior vice president of operations at Denbury’s corporate office, said the business is still viable.

“We’re injecting about 56 million cubic feet of CO2 a day into 11 injection wells,” Cornelius said.

The financial benefits from the productions should start to roll in the first quarter of 2009 fiscal year or early second quarter, he said.

Cornelius said a great amount of money has been and will continue to be invested in the Cranfield project.

He said $36 million has been invested in the production this year alone, and an additional $9 million is expected to be invested in 2009.

And while oil prices fluctuate on a regular basis and it’s unknown what to expect in the future, Cornelius said Denbury’s oil recovery is crucial no matter what happens with oil prices.

“We have to continue to look for domestic energy. We have to,” he said.

“The country needs to continue to look for and continue to find domestic energy. This is a viable project right here in Mississippi.

“It makes sense to do it.”

With production moving forward, Cornelius said Denbury is looking forward to Rentech coming online.

The high volume of carbon dioxide that Rentech will be producing would be beneficial to Denbury’s operation.

“We would work in cooperating with Rentech to take their CO2 to utilize it,” he said.

However, Denbury can operate independent of Rentech.

“We’ve got our own supply of CO2,” he said.