This report is a detailed analysis of a Homeland Security thermal video taken from an aircraft as it tracked an unidentified object. The authenticity of the video was verified through radar data that correlated to the metadata in the video. The three-minute video was taken by a Wescam MX-15D IR camera that operates in the 3-5 micron region of the infrared. The video was broken into individual frames for study. The object in the video traveled at night without lights through an urban area, at times below tree-top altitude, at speeds approaching 100 mph, and apparently without risk of impacting objects as it passes by. The object enters the water toward the end of the video with minimal impact. It exits the water and begins to enlarge before splitting into two equal parts. The two objects then re-enter the water at different times before the video ends.