Large integrated oil companies have been grossly underperforming this past quarter, as the sub-industry is reporting a 17% decline in revenues year over year. Even the biggest oil company in the world, ExxonMobil (NYSE:XOM), couldn't reverse the trend, as it reported a 57% drop in earnings.

In this week's edition of The Motley Fool's energy-focused show Digging for Value, energy analysts Joel South and Taylor Muckerman dive into earnings releases from two large integrated major oil companies.