This nodule is located near Trinidad, Colorado. The nodule formed around the root ball of a Cretaceous palm tree. Two feet above the root ball, the tree trunk was truncated by the erosive forces of the newly formed fluvial channel.
The top of the nodule and surrounding the tree trunk is a thin layer of black carbonaceous material.
Huw Williams from across the pond describes it best: Looks like shallow lake shale/paleosols with composite crevasse splay events coming in.
The ultimate nodule!