High-internal phase aqueous-in-oil emulsions of two surfactant concentrations were studied using small-angle neutron scattering (SANS) and simultaneous in situ rheology measurements. They contained a continuous oil phase with differing amounts of hexadecane and d-hexadecane (for contrast matching experiments), a deuteroaqueous phase almost saturated with ammonium nitrate, and an oil-based stabilizing polyisobutylene-based surfactant. The emulsions' macroscopic rheological behavior has been related to quantify changes in microscale and nanoscale Structures observed in the SANS measurements. The emulsions are rheologically unexceptional and show, inter alia, refinement to higher viscosity after high shear, and shear thinning. These are explained by changes observed in the SANS model parameters. Shear thinning is explained by SANS-observed shear disruption of interdroplet bilayer links, causing deflocculation to more spherical, less linked, aqueous droplets. Refinement to higher viscosity is accompanied by droplet size reduction and loss of surfactant from the oil Continuous phase. Refinement occurs because of shear-induced droplet anisotropy, which we have also observed in the SANS experiment. This observed anisotropy and the emulsion refinement cannot he reproduced by either isolated molecule Or mean-field models hut require a more detailed consideration of interdroplet forces in the sheared fluid.