Surging US energy production from shale formations has been the bane of Canadian energy producers for more than a decade.

The proof is in the prices. Western Canada Select crude oil recently sold for $26 less per barrel than the WTI US benchmark, and that differential has been as wide as $40 in recent years. Canadian natural gas at the AECO hub has fetched less than $1 per thousand cubic feet for long stretches and today is barely one-third the benchmark price at Henry Hub in Texas.

WCS’ heavier oil mix accounts for some of its discount. But transportation constraints are by far the biggest contributor. And the more the US pumps, the more Canadian oil and gas is crowded off North American pipelines, rails and trucking networks.

Energy & Income Advisor sifts through literally hundreds of energy companies from around the world to separate the best from the rest. You can check out key metrics for each along with our comments and advice in the tables under the “Portfolios” tab on the EIA website.

The current issue features an updated look at the stocks we cover. Unfortunately, we found a large number of companies we track are still at risk to dividend cuts, along with a handful that are genuine bankruptcy risks.

Many of these weaklings have already cut their distributions at least once since oil prices peaked in mid-2014. As a result, they trade at much lower levels than just a few years ago.

In an unforgiving market like this one for energy stocks and particularly MLPs, however, another cut would still set off a selling wave. And that’s at the same time stronger companies that have taken their lumps are making gains.

The upshot is we want to avoid at risk dividends now as much as ever. To provide an early warning system, we’re initiating ourEnergy & Income Advisor Endangered Dividends List with the 16 companies in our table.