Very bright lights like an airplane, but went dark and saw a round, gray object at a high altitude.Object seen on Saturday, November 10, 2012 at approximately 11:45 pm.My wife and I had just returned from watching a football game locally. We pulled up in front of our house. (suburban neighborhood) and I noticed very bright lights to the south. Since we have a small airport here in town (behind me and on the other side of a freeway to my east) I assumed it was a low flying airplane making an approach to land. I walked my wife to the door and turned to look at the lights again. I realized that there were no red and green lights as required and the lights seemed brighter than a small plane. So I assumed maybe it was a commercial airliner making its approach into Eugenes regional airport to my northwest.The craft appeared to stop its forward motion. I ran inside to grab a pair of binoculars. When I came out and looked at the object, it almost appeared that instead of what I thought were lights, almost looked like it was on fire. Flickering but I saw no smoke or vapor trail. (Maybe the atmosphere causing the lights to appear to be flickering) It was then I realized that the object was not an altitude for a plane making an approach locally, but at what I would estimate to be at least 30,000 feet.I have observed jetliners flying over my town at high altitudes with my binoculars, high enough to produce a vapor trail. And I could see that it was a plane with wings and lights etc…so I felt confident estimating the objects altitude.The lights all of a sudden went dark. I pulled the binoculars down straining to catch a glimpse of the craft with the naked eye. And that’s when I saw a faint, gray object, traveling about the speed of a satellite orbiting earth. I found it with my binoculars again. It was at a very high altitude, no lights, no smoke or vapor trail. Grey, round, not like a ball but like a disk from my vantage point.I followed the object in my binoculars for at least another minute or two as it headed north, and finally disappeared behind some clouds and my roofline.I called a local news station the next day to ask if anyone else had reported strange lights, but no one had.I talked to my dad the next morning. He is retired from Boeing and once held his pilots license. I asked him if what I saw could have been a weather balloon, but he said they don’t have lights (especially that bright) and wouldn’t have been traveling at the rate of speed.I honestly don’t know what I saw that night, but it was not normal.