A new teaser video for Yellowstone Season 5 doesn’t appear to reveal much at first glance. A second, third and fourth tenth viewing uncovers more — much more.

Listen, it’s been 20 months since the show gave us anything new to talk about. Since January 2023 it’s been writer’s strikes, Kevin Costner drama, network drama and prequels and sequels that may or may not happen depending on the day, moon phase and whether or not the Texas Rangers won last night.

OK, news hasn’t been quite that slippery, but it’s not far off.

On Aug. 26, a 20-second video was shared across Yellowstone socials that whet our appetite for the Nov. 10 premiere of Season 5, Part B.

Watch closely and see if you see what we see:

When Does Yellowstone Return?
Yellowstone will return on Paramount Network on Nov. 10. This follows a schedule set by the show for the last several seasons. A fall debut leads to a finale just before or just after Christmas.

It’s not official, but look for a new Yellowstone sequel to debut immediately after on Paramount+, or for 1923 to resume.

Is Kevin Costner Returning to Yellowstone?
No, Kevin Costner is not coming back for the final half season of Yellowstone. It sounds like the two sides tried to reach an agreement, but negotiations fell apart and Taylor Sheridan and company moved on without him.

Fans feel some kind of way about it. Here is a common response:

Yellowstone Season 5 Teaser Secrets Revealed:
The new teaser video opens with a few wide shots of the Yellowstone bunkhouse, barn and sign. Horses graze quietly off to the right, and there are four vehicles spotted near the buildings. Two are ranch trucks, and two are private cars. Could the dark vehicle be Jamie Dutton’s?

Next we see a white horse as we hear footsteps coming up a gravel road. That’s not the horse John Dutton rode, and it’s not Tate’s horse, Lucky, either.

It does look like the stallion Kayce Dutton rescued and gifted his father early in Season 1, however. The next shot is most informative.

Through a reflection in the horse’s eye, we see a thick cowboy with a rifle … but wait — there is someone else next to him!

The man on the left has to be Rip Wheeler, and if he’s loading his gun, then there has to be trouble brewing.

Who is with him? Kayce Dutton seems most likely, if that’s his stallion. While these two don’t always agree, they respect one another and usually line up for the same cause.

Despite his size and direct way of handling things, the foreman can go ninja when needed. If someone was attacking the ranch or if Jamie and Beth were having the showdown everyone assumes is coming, he’d need to approach quietly.

It could just be Rip bringing a gun to attend to animal business, which is sad, but not tragic. Yellowstone has certainly led us in the wrong direction before, especially when they need to promote Season 5.

Something else worth remembering is that as Part A of Season 5 ended, Rip is headed to Texas. The mountains in the distance tell us he returned.

That can’t be good news.

Next, we see the front door opening slowly and a man behind it (Rip again?). Finally, there’s a hat on a rack and — hold on a second …

Is that John Dutton’s hat? Rip wears one that’s very similar, but it’s much more symbolic to see the family patriarch’s lid hanging unused.

Where Did Yellowstone Leave Off?

There are two major storylines moving: The first is Jamie Dutton calling for Governor John Dutton’s impeachment and the legislature moving forward with it.

The second is half of the ranch heading to Texas to care for cattle after the family land was stricken with illness. Kayce and Monica are going to tend to the ranch while John, Rip and company head south.

Beth plans to fight her brother to the death, with both siblings essentially putting a hit on one another. How this will play out and who will retain control of the ranch is anyone’s guess.