  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 x 10^{39} ergs/sec in or near the blue knots of star formation
associated with the ring. A source with an isotropic X-ray luminosity of 1.4 x
10^{40} ergs/sec 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
