EXHIBIT 99.1
EOG Resources, Inc.
News Release
For Further Information Contact:	Investors
	Maire A. Baldwin
	(713) 651-6EOG (651-6364)
	Media and Investors
	Elizabeth M. Ivers
	(713) 651-7132

EOG RESOURCES REPORTS FIRST QUARTER 2008 RESULTS

• On Track to Achieve 15 Percent Total Company Organic Production Growth Target in 2008

• Strengthens Balance Sheet during First Quarter

• Announces New Horizontal Natural Gas Play in the Texas Panhandle

FOR IMMEDIATE RELEASE: Thursday, May 1, 2008

HOUSTON - EOG Resources, Inc. (EOG) today reported first quarter 2008 net income available to common stockholders of $240.5 million, or $0.96 per share. This compares to first quarter 2007 net income available to common stockholders of $216.8 million, or $0.88 per share.

The results for the first quarter 2008 included a gain on sale of assets of $130.2 million ($84.7 million after tax, or $0.34 per share) related to the disposition of shallow natural gas assets and surrounding acreage in the Appalachian Basin and a previously disclosed $469.8 million ($302.3 million after tax, or $1.21 per share) loss on the mark-to-market of financial commodity transactions. During the quarter, the net cash realized related to financial commodity contracts was $23.2 million ($14.9 million after tax, or $0.06 per share). Consistent with some analysts' practice of matching realizations to settlement months and making certain other adjustments in order to exclude one-time items, adjusted non-GAAP net income available to common stockholders for the quarter was $473.0 million, or $1.89 per share. Adjusted non-GAAP net income available to common stockholders for the first quarter 2007 was $272.8 million, or $1.11 per share. (Please refer to the attached tables for the reconciliation of adjusted non-GAAP net income available to common stockholders to GAAP net income available to common stockholders.)

Operational Highlights

For the first three months of 2008, EOG reported robust volume growth in United States natural gas, crude oil and condensate and natural gas liquids over the first quarter 2007. Domestic natural gas production rose 19 percent, driven by increases from operations in the Fort Worth Barnett Shale and Upper Gulf Coast operating areas.

Total company crude oil, condensate and natural gas liquids volumes increased 38 percent over the same period a year ago. The North Dakota Bakken and Mid Continent areas contributed significantly to a 27 percent rise in total company crude oil and condensate growth over the same period a year ago. Total company natural gas liquids volumes were up 67 percent over the first quarter 2007, with substantial increases recorded from the liquids-rich Fort Worth Barnett Shale natural gas production.

EOG continues to unlock new reserve accumulations through the application of horizontal drilling and completion technology. Adding to its outstanding inventory of drilling locations, EOG has identified a natural gas play in the Mid Continent operating area with an estimated 400 billion cubic feet, net of natural gas potential. EOG has accumulated 60,000 net acres in the Atoka Formation in the Texas Panhandle where it has drilled 17 horizontal wells to date. The most recent well, the Paul 536 #2H, began producing natural gas at a rate of 6.5 million cubic feet per day (MMcfd) in April, while the Price Trust 604 #2H went on production at a rate of 7 MMcfd in the fourth quarter 2007. EOG has a 100 percent working interest in both wells.

"This was a very strong quarter for EOG. Not only were our operational results excellent, but our growing expertise in the application of horizontal drilling and completion technology has helped us identify another natural gas resource play. Our success in the Atoka Formation demonstrates that there are still untapped reservoirs in the United States for companies like EOG that have the skill to find and develop them," said Mark G. Papa, Chairman and Chief Executive Officer.

Capital Structure

At March 31, 2008, EOG's total debt outstanding was $1,185 million. Taking into account cash on the balance sheet of $205 million, at the end of the first quarter EOG's net debt was $980 million. EOG's debt-to-total capitalization ratio was 14 percent at March 31, 2008, unchanged since December 31, 2007. At the end of the first quarter, the net debt-to-total capitalization ratio was 12 percent, down from 14 percent at year-end 2007. (Please refer to the attached tables for the reconciliation of net debt (non-GAAP) to long-term debt (GAAP) and the reconciliation of net debt-to-total capitalization ratio (non-GAAP) to debt-to-total capitalization ratio (GAAP).)

"We are well positioned to achieve EOG's goal of reducing net debt throughout the year. In addition, we are executing our organic growth game plan in order to meet our 15 percent production growth target while maintaining our original capital expenditure estimate of $4.4 billion," said Papa. "This strategy further strengthens our ability to achieve our longstanding goal of delivering strong returns to EOG's stockholders on an ongoing basis."

Conference Call Scheduled for May 2, 2008

EOG's first quarter 2008 results conference call will be available via live audio webcast at 8 a.m. Central Daylight Time (9 a.m. Eastern Daylight Time) on Friday, May 2, 2008. To listen, log on to www.eogresources.com. The webcast will be archived on EOG's website through Friday, May 16, 2008.

EOG Resources, Inc. is one of the largest independent (non-integrated) oil and natural gas companies in the United States with proved reserves in the United States, Canada, offshore Trinidad and the United Kingdom North Sea. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol "EOG."

This press releaseincludes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts, including, among others, statements regarding EOG's future financial position, business strategy, budgets, reserve information, projected levels of production, projected costs and plans and objectives of management for future operations, are forward-looking statements. EOG typically uses words such as "expect," "anticipate," "estimate," "strategy," "intend," "plan," "target" and "believe" or the negative of those terms or other variations or comparable terminology to identify its forward-looking statements. In particular, statements, express or implied, concerning future operating results, the ability to replace or increase reserves or to increase production, or the ability to generate income or cash flows are forward-looking statements. Forward-looking statements are not guarantees of performance. Although EOG believes the expectations reflected in its forward-looking statements are based on reasonable assumptions, no assurance can be given that these expectations will be achieved. Important factors that could cause actual results to differ materially from the expectations reflected in EOG's forward-looking statements include, among others:

• the timing and extent of changes in commodity prices for crude oil, natural gas and related products, foreign currency exchange rates, interest rates and financial market conditions;
• the extent and effect of any hedging activities engaged in by EOG;
• the timing and impact of liquefied natural gas imports;
• changes in demand or prices for ammonia or methanol;
• the extent of EOG's success in discovering, developing, marketing and producing reserves and in acquiring oil and gas properties;
• the accuracy of reserve estimates, which by their nature involve the exercise of professional judgment and may therefore be imprecise;
• the ability to achieve production levels from existing and future oil and gas development projects due to operating hazards, drilling risks and the inherent uncertainties in predicting oil and gas reservoir performance;
• the availability and cost of drilling rigs, experienced drilling crews, tubular steel and other materials, equipment and services used in drilling and well completions;
• the availability, terms and timing of mineral licenses and leases and governmental and other permits and rights of way;
• access to surface locations for drilling and production facilities;
• the availability and capacity of gathering, processing and pipeline transportation facilities;
• the availability of compression uplift capacity;
• the extent to which EOG can economically develop its Barnett Shale acreage outside of Johnson County, Texas;
• whether EOG is successful in its efforts to more densely develop its acreage in the Barnett Shale and other production areas;
• political developments around the world and the enactment of new government policies, legislation and regulations, including environmental regulations;
• acts of war and terrorism and responses to these acts; and
• weather, including weather-related delays in the installation of gathering and production facilities.

In light of these risks, uncertainties and assumptions, the events anticipated by EOG's forward-looking statements may not occur. EOG's forward-looking statements speak only as of the date made and EOG undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. As noted above, statements of proved reserves are only estimates and may be imprecise. Any reserve estimates provided in this press release that are not specifically designated as being estimates of proved reserves may include not only proved reserves, but also other categories of reserves that the SEC's guidelines strictly prohibit EOG from including in filings with the SEC. Investors are urged to consider closely the disclosure in EOG's Annual Report on Form 10-K for fiscal year ended December 31, 2007, available from EOG at P.O. Box 4362, Houston, Texas 77210-4362 (Attn: Investor Relations). You can also obtain this report from the SEC by calling 1-800-SEC-0330 or from the SEC's website at www.sec.gov.

EOG RESOURCES, INC.
FINANCIAL REPORT
(Unaudited; in millions, except per share data)
			Quarter
			Ended March 31,
			2008		2007
Net Operating Revenues			$	1,101.0	$	871.2
Net Income Available to Common Stockholders			$	240.5	$	216.8
Net Income Per Share Available to Common Stockholders
	Basic		$	0.98	$	0.89
	Diluted		$	0.96	$	0.88
Average Number of Shares Outstanding
	Basic			245.4		242.8
	Diluted			249.8		246.7
SUMMARY INCOME STATEMENTS
(Unaudited; in thousands)
			Quarter
			Ended March 31,
			2008		2007
Net Operating Revenues
	Natural Gas		$	1,037,638	$	730,461
	Crude Oil, Condensate and Natural Gas Liquids			394,848		174,864
	Losses on Mark-to-Market Commodity Derivative Contracts			(469,844)		(39,801)
	Other, Net			138,331		5,713
		Total		1,100,973		871,237
Operating Expenses
	Lease and Well			132,466		104,325
	Transportation Costs			61,967		32,567
	Exploration Costs			47,943		26,384
	Dry Hole Costs			8,428		16,810
	Impairments			32,574		24,042
	Depreciation, Depletion and Amortization			297,199		244,342
	General and Administrative			52,926		43,879
	Taxes Other Than Income			86,750		40,648
		Total		720,253		532,997
Operating Income				380,720		338,240
Other Income, Net				1,583		4,719
Income Before Interest Expense and Income Taxes				382,303		342,959
Interest Expense, Net				12,191		7,638
Income Before Income Taxes				370,112		335,321
Income Tax Provision				129,156		117,654
Net Income				240,956		217,667
Preferred Stock Dividends				443		875
Net Income Available to Common Stockholders			$	240,513	$	216,792

EOG RESOURCES, INC.
OPERATING HIGHLIGHTS
(Unaudited)
			Quarter
			Ended March 31,
			2008		2007
Wellhead Volumes and Prices
Natural Gas Volumes (MMcfd) (A)
	United States			1,085		915
	Canada			216		222
	Trinidad			231		253
	United Kingdom			17		30
		Total		1,549		1,420
Average Natural Gas Prices ($/Mcf) (B)
	United States		$	8.05	$	6.35
	Canada			7.44		6.43
	Trinidad			3.87		2.81
	United Kingdom			9.85		5.55
		Composite		7.36		5.71
Crude Oil and Condensate Volumes (MBbld) (A)
	United States			30.6		21.9
	Canada			2.4		2.5
	Trinidad			3.6		4.3
	United Kingdom			0.1		0.1
		Total		36.7		28.8
Average Crude Oil and Condensate Prices ($/Bbl) (B)
	United States		$	92.08	$	53.76
	Canada			88.94		51.76
	Trinidad			87.90		59.91
	United Kingdom			88.29		52.87
		Composite		91.46		54.51
Natural Gas Liquids Volumes (MBbld) (A)
	United States			16.7		9.5
	Canada			1.0		1.1
		Total		17.7		10.6
Average Natural Gas Liquids Prices ($/Bbl) (B)
	United States		$	57.26	$	37.07
	Canada			57.14		36.37
		Composite		57.26		37.00
Natural Gas Equivalent Volumes (MMcfed) (C)
	United States			1,370		1,104
	Canada			236		243
	Trinidad			252		279
	United Kingdom			17		31
		Total		1,875		1,657
Total Bcfe (C) Deliveries				170.6		149.1
(A)	Million cubic feet per day or thousand barrels per day, as applicable.
(B)	Dollars per thousand cubic feet or per barrel, as applicable.
(C)	Million cubic feet equivalent per day or billion cubic feet equivalent, as applicable;  includes natural gas, crude oil,
	condensate and natural gas liquids. Natural gas equivalents are determined using the ratio of 6.0 thousand cubic
	feet of natural gas to 1.0 barrel of crude oil, condensate or natural gas liquids.

	EOG RESOURCES, INC.
	SUMMARY BALANCE SHEETS
	(Unaudited; in thousands, except share data)
				March 31,		December 31,
				2008		2007
	ASSETS
Current Assets
	Cash and Cash Equivalents		$	204,938	$	54,231
	Accounts Receivable, Net			1,010,020		835,670
	Inventories			98,565		102,322
	Assets from Price Risk Management Activities			-		100,912
	Income Taxes Receivable			132,997		110,370
	Deferred Income Taxes			191,072		33,533
	Other			52,654		55,001
	Total			1,690,246		1,292,039
Property, Plant and Equipment
	Oil and Gas Properties (Successful Efforts Method)			17,864,994		16,981,836
	Other Property, Plant and Equipment			668,208		581,402
				18,533,202		17,563,238
	Less: Accumulated Depreciation, Depletion and Amortization			(7,388,651)		(7,133,984)
	Total Property, Plant and Equipment, Net			11,144,551		10,429,254
Long-Term Assets Held for Sale				-		254,376
Other Assets				115,762		113,238
Total Assets			$	12,950,559	$	12,088,907
	LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
	Accounts Payable		$	1,208,751	$	1,152,140
	Accrued Taxes Payable			105,140		104,647
	Dividends Payable			29,482		22,045
	Liabilities from Price Risk Management Activities			308,504		3,404
	Deferred Income Taxes			19,545		108,980
	Other			53,496		82,954
	Total			1,724,918		1,474,170
Long-Term Debt				1,185,000		1,185,000
Other Liabilities				462,873		368,336
Deferred Income Taxes				2,387,247		2,071,307
Stockholders' Equity
	Preferred Stock, $0.01 Par, 10,000,000 Shares Authorized:
		Series B, Cumulative, $1,000 Liquidation Preference Per Share,
		5,000 Shares Outstanding at December 31, 2007		-		4,977
	Common Stock, $0.01 Par, 640,000,000 Shares Authorized and
		249,460,000 Shares Issued		202,495		202,495
	Additional Paid In Capital			263,094		221,102
	Accumulated Other Comprehensive Income			388,848		466,702
	Retained Earnings			6,367,524		6,156,721
	Common Stock Held in Treasury, 1,375,631 Shares at
		March 31, 2008 and 2,935,313 Shares at December 31, 2007		(31,440)		(61,903)
		Total Stockholders' Equity		7,190,521		6,990,094
Total Liabilities and Stockholders' Equity			$	12,950,559	$	12,088,907

	EOG RESOURCES, INC.
	SUMMARY STATEMENTS OF CASH FLOWS
	(Unaudited; in thousands)
			Quarter
			Ended March 31,
			2008		2007
Cash Flows from Operating Activities
Reconciliation of Net Income to Net Cash Provided by Operating Activities:
	Net Income		$	240,956	$	217,667
	Items Not Requiring (Providing) Cash
		Depreciation, Depletion and Amortization		297,199		244,342
		Impairments		32,574		24,042
		Stock-Based Compensation Expenses		19,783		14,211
		Deferred Income Taxes		83,390		96,999
		Other, Net		(127,968)		(2,958)
	Dry Hole Costs			8,428		16,810
	Mark-to-Market Commodity Derivative Contracts
		Total Losses		469,844		39,801
		Realized Gains		23,210		47,268
	Other, Net			8,599		11,482
	Changes in Components of Working Capital and Other Assets and Liabilities
		Accounts Receivable		(177,684)		22,935
		Inventories		3,285		(8,844)
		Accounts Payable		93,452		23,431
		Accrued Taxes Payable		(29,265)		1,967
		Other Assets		(1,745)		(3,623)
		Other Liabilities		(27,673)		(14,356)
	Changes in Components of Working Capital Associated with
	Investing and Financing Activities			5,192		(32,694)
Net Cash Provided by Operating Activities				921,577		698,480
Investing Cash Flows
	Additions to Oil and Gas Properties			(1,060,035)		(812,243)
	Additions to Other Property, Plant and Equipment			(87,589)		(80,287)
	Proceeds from Sales of Assets			346,891		2,939
	Changes in Components of Working Capital Associated with
	Investing Activities			(4,750)		32,959
	Other, Net			(1,235)		(1,579)
Net Cash Used in Investing Activities				(806,718)		(858,211)
Financing Cash Flows
	Net Commercial Paper and Revolving Credit Facility Borrowings			-		116,600
	Long-Term Debt Repayments			-		(30,000)
	Dividends Paid			(22,089)		(15,522)
	Redemption of Preferred Stock			(5,395)		-
	Excess Tax Benefits from Stock-Based Compensation			35,496		7,409
	Proceeds from Stock Options Exercised			29,537		5,276
	Other, Net			(442)		(265)
Net Cash Provided by Financing Activities				37,107		83,498
Effect of Exchange Rate Changes on Cash				(1,259)		(322)
Increase (Decrease) in Cash and Cash Equivalents				150,707		(76,555)
Cash and Cash Equivalents at Beginning of Period				54,231		218,255
Cash and Cash Equivalents at End of Period			$	204,938	$	141,700

EOG RESOURCES, INC.
QUANTITATIVE RECONCILIATION OF ADJUSTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (Non-GAAP)
TO NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (GAAP)
(Unaudited; in thousands, except per share data)
The following chart adjusts three-month periods ended March 31 reported Net Income Available to Common Stockholders (GAAP) to reflect actual cash realized from financial commodity transactions by eliminating the unrealized mark-to-market losses from these transactions and for the gain on the sale of Appalachian assets. EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who adjust reported company earnings to match realizations to production settlement months and make certain other adjustments to exclude one-time items. EOG management uses this information for comparative purposes within the industry.
		Quarter
		Ended March 31,
		2008		2007
Reported Net Income Available to Common Stockholders (GAAP)		$	240,513	$	216,792
Mark-to-Market (MTM) Commodity Derivative Contracts Impact
	Total Losses		469,844		39,801
	Realized Gains		23,210		47,268
	Subtotal		493,054		87,069
	After Tax MTM Impact		317,280		56,029
Less: Gain on Sale of Appalachian Assets, Net of Tax			(84,748)		-
Adjusted Net Income Available to Common Stockholders (Non-GAAP)		$	473,045	$	272,821
Net Income Per Share Available to Common Stockholders (GAAP)
	Basic	$	0.98	$	0.89
	Diluted	$	0.96	$	0.88
Adjusted Net Income Per Share Available to Common Stockholders (Non-GAAP)
	Basic	$	1.93	$	1.12
	Diluted	$	1.89	$	1.11
Average Number of Shares Outstanding
	Basic		245,430		242,763
	Diluted		249,763		246,677

EOG RESOURCES, INC.
QUANTITATIVE RECONCILIATION OF DISCRETIONARY CASH FLOW
AVAILABLE TO COMMON STOCKHOLDERS (Non-GAAP)
TO NET CASH PROVIDED BY OPERATING ACTIVITIES (GAAP)
(Unaudited; in thousands)
The following chart reconciles three-month periods ended March 31 Net Cash Provided by Operating Activities (GAAP) to Discretionary Cash Flow Available to Common Stockholders (Non-GAAP). EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who adjust Net Cash Provided by Operating Activities for Exploration Costs (excluding Stock-Based Compensation Expenses), Changes in Components of Working Capital, Other Assets and Liabilities and Preferred Stock Dividends. EOG management uses this information for comparative purposes within the industry.
			Quarter
			Ended March 31,
			2008		2007
Net Cash Provided by Operating Activities (GAAP)			$	921,577	$	698,480
Adjustments
	Exploration Costs (excluding Stock-Based Compensation Expenses)			43,923		23,345
	Changes in Components of Working Capital and Other Assets and Liabilities
		Accounts Receivable		177,684		(22,935)
		Inventories		(3,285)		8,844
		Accounts Payable		(93,452)		(23,431)
		Accrued Taxes Payable		29,265		(1,967)
		Other Assets		1,745		3,623
		Other Liabilities		27,673		14,356
	Changes in Components of Working Capital Associated
		with Investing and Financing Activities		(5,192)		32,694
	Preferred Dividends			(443)		(875)
Discretionary Cash Flow Available to Common Stockholders (Non-GAAP)			$	1,099,495	$	732,134

EOG RESOURCES, INC.
QUANTITATIVE RECONCILIATION OF NET DEBT (Non-GAAP) AND TOTAL
CAPITALIZATION (Non-GAAP) AS USED IN THE CALCULATION OF
THE NET DEBT-TO-TOTAL CAPITALIZATION RATIO
TO LONG-TERM DEBT (GAAP) AND TOTAL CAPITALIZATION (GAAP)
(Unaudited; in millions, except ratio information)
The following chart reconciles Long-Term Debt (GAAP) to Net Debt (Non-GAAP) and Total Capitalization (GAAP) to Total Capitalization (Non-GAAP), as used in the Net Debt-to-Total Capitalization ratio calculation. A portion of the cash is associated with international subsidiaries; tax considerations may impact debt paydown. EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who utilize Net Debt in their Net Debt-to-Total Capitalization ratio calculation. EOG management uses this information for comparative purposes within the industry.
			03/31/2008		12/31/2007
	Total Stockholders' Equity (GAAP) - (a)	$	7,191	$	6,990
	Long-Term Debt (GAAP) - (b)		1,185		1,185
	Less: Cash (GAAP)		(205)		(54)
	Net Debt (Non-GAAP) - (c)		980		1,131
	Total Capitalization (Non-GAAP) - (a) + (c)	$	8,171	$	8,121
	Total Capitalization (GAAP) - (a) + (b)	$	8,376	$	8,175
	Net Debt-to-Total Capitalization (Non-GAAP) - (c) / [(a) + (c)]		12%		14%
	Debt-to-Total Capitalization (GAAP) - (b) / [(a) + (b)]		14%		14%