The Chandra X-Ray Observatory was used to image the collisional ring galaxy Arp 147 for 42 ks .
We detect 9 X-ray sources with luminosities in the range of 1.4 - 7 \times 10 ^ { 39 } ergs s ^ { -1 } in or near the blue knots of star formation associated with the ring .
A source with an isotropic X-ray luminosity of 1.4 \times 10 ^ { 40 } ergs s ^ { -1 } is detected in the nuclear region of the intruder galaxy .
X-ray sources associated with a foreground star and a background quasar are used to improve the registration of the X-ray image with respect to HST high resolution optical images .
The intruder galaxy , which apparently contained little gas before the collision , shows no X-ray sources other than the one in the nuclear bulge which may be a poorly fed supermassive black hole .
These observations confirm the conventional wisdom that collisions of gas rich galaxies trigger large rates of star formation which , in turn , generate substantial numbers of X-ray sources , some of which have luminosities above the Eddington limit for accreting stellar-mass black holes .