If you have looked at most rig companies as investments lately, you have probably had one of two reactions:

1) Holy cow, shares are down over 30% this year! I'm not touching that with a 30-foot pole.

2) Wait, I can lock in a dividend yield between 7%-16%! Where do I sign up?

To help you better understand what the heck is going on with these companies, Motley Fool columnist Tyler Crowe sits down with host Alison Southwick in the latest energy episode of Where the Money Is to discuss the essentials of investing in this sometimes misunderstood industry. Find out if the rig market is a lucrative investment today, and which company -- Seadrill (NYSE:SDRL), Encso (OTC:VAL), Transocean (NYSE:RIG), Diamond Offshore (OTC:DO), or Noble (OTC:NEBLQ) -- is the pick of the litter.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.