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 (NYSE:ESV), Transocean (NYSE:RIG), Diamond Offshore (NYSE:DO), or Noble (NYSE:NE) -- is the pick of the litter.

Alison Southwick has no position in any stocks mentioned. Tyler Crowe owns shares of Seadrill. Follow Where the Money Is on Twirtter @TMFFinancials or follow Tyler @TylerCroweFool

The Motley Fool recommends Seadrill. The Motley Fool owns shares of Seadrill and Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.