Unfortunately there could be many failures, first among those might be Occidental (OXY) which paid a huge amount – $55 billion – for Anadarko Petroleum, a decent, not great producer. Occidental is now worth $15 billion largely because it will have a very hard time paying debt and drilling or even taking oil out of the ground. Braziel's work shows that Occidental has a $33 per barrel finding and development cost and a $34 a barrel lifting cost (production costs and production taxes/production), making it the third worse of 37 producers in the U.S. with the others obvious candidates for bankruptcy. So that 18% dividend is not safe, especially because Oxy borrowed $10 billion from Berkshire Hathaway (BRK.A) (BRK.B) and it's a preferred, meaning it has higher standing than the common stock. Do not buy it for that yield and, please, remember, I begged this company's CEO not to buy Anadarko. Oh well.
https://realmoney.thestreet.com/jim-cramer/jim-cramer-once-again-oil-stocks-time-has-come-and-gone-15261187