They're making less on crude, more on refining it.
Both Exxon Mobil and Chevron reported their most profitable quarters of all time during the calendar year. Sustaining that growth is more complicated.
Chevron has been upfront about producing the site, but there are concerns it may be the only source of news for some in the area.
It'll take more than political policy to lower prices.
One Texas rancher still trying to find out whether a leak from a decommissioned oil well is a sign of other problems on her land.
Usually they'd plow them back into drilling new wells. But right now, that's not what investors want.
Climate activists won seats on Chevron and Exxon's boards, and Shell lost in court. Changes must be big to protect the environment.
Oil has risen to roughly $40 a barrel after plummeting in April. With prices holding steady, big oil companies are likely to pounce on smaller ones.
Will there be other deals like it?