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 2007 RESULTS

• United States Natural Gas Production Increases by 21 Percent Over First Quarter 2006
• Total Company Production on Track to Meet 2007 Growth Target of 10 Percent

FOR IMMEDIATE RELEASE: Monday, April 30, 2007

HOUSTON - EOG Resources, Inc. (EOG) today reported first quarter 2007 net income available to common of $216.8 million, or $0.88 per share. This compares to first quarter 2006 net income available to common of $424.8 million, or $1.73 per share.

The results for the first quarter 2007 included a previously disclosed $39.8 million ($25.6 million after tax, or $0.11 per share) loss on the mark-to-market of financial commodity price transactions. During the quarter, the net cash realized related to financial commodity contracts was $47.3 million ($30.4 million after tax, or $0.12 per share). Consistent with some analysts' practice of matching realizations to settlement months, adjusted non-GAAP net income available to common for the quarter was $272.8 million, or $1.11 per share. Last year's first quarter results included a $107.0 million ($68.8 million after tax, or $0.28 per share) gain on the mark-to-market of financial commodity price transactions. The net cash inflow from the settlement of financial commodity price transactions was $30.1 million ($19.3 million after tax, or $0.08 per share). Reflecting these items, first quarter 2006 adjusted non-GAAP net income available to common was $375.3 million, or $1.53 per share. (Please refer to the attached tables for the reconciliation of adjusted non-GAAP net income available to common to net income available to common.)

Operational Highlights

United States natural gas production increased 21 percent over the first quarter 2006 led by continued strong results and production increases from the Fort Worth Basin Barnett Shale. Other growth drivers during the first quarter were EOG's operations in East Texas, South Texas, the Rockies and Mid Continent.

"Based on our growing success in the Barnett Shale and our other activities in North America, we are on track to achieve our target of 10 percent total company production growth in 2007," said Mark G. Papa, Chairman and Chief Executive Officer. "We think it is a significant operational achievement for a company the size of EOG to grow U.S. production organically at double digit rates as we are doing."

In Johnson County, where EOG is furthest along in the development of its Barnett Shale assets, the Fowler Unit #1H, the best well that EOG has completed in the play to date, began production at a rate of 16 million cubic feet per day (MMcfd) of natural gas in March. EOG has a 100 percent working interest in the well, which is located in the eastern part of the county. Also in Johnson County, three Hardcastle Unit wells, the #8H, #9H and #10H, were drilled with 35 acre spacing between them. The wells, in which EOG has a 100 percent working interest, each began producing natural gas at rates varying from 5.8 to 6.7 MMcfd.

Outside of Johnson County in Erath, Hood, Jack and Parker Counties where EOG has increased its drilling activity, a number of wells were recently turned to sales. In Erath County, the Houston Ranch #16H, in which EOG has a 97 percent working interest, began producing natural gas in March at a rate of 1.7 MMcfd. Four Hood County wells, the Black Ranch #14H, the Branch Farms #1H and the Mabery A Unit #1H and B Unit #1H, were drilled during the first quarter and completed to sales in April at initial production rates that varied from 1.4 to 2.6 MMcfd. EOG has an approximate 80 percent working interest in these wells. In Parker County, EOG has a 100 percent working interest in the KTV Betzel Unit #3H, which began initial production in April at 2.0 MMcfd.

"Operating results from the Fort Worth Barnett Shale continue to meet or exceed every target we have set," said Papa. "As we maintain our focus on gaining operational expertise, our results continue to improve as well."

In South Texas, EOG completed two strong Lobo wells in Zapata County. The Barrocito #6, in which EOG has a 100 percent working interest, was drilled to 11,000 feet. The well, which began initial natural gas production at a rate of 14 MMcfd, sets up the potential for a significant number of offset drilling locations. Also in Zapata County, the Slator Ranch W-4, which was drilled in the Stirling Field, flowed at an initial production rate of 13.8 MMcfd of natural gas and 120 barrels of oil per day, gross. EOG has an 88 percent working interest in the well.

"In the past month, we have seen a strengthening in natural gas prices for the second half of the year that falls in-line with our internal expectations. Based on the current commodity environment, we plan to execute our $3.4 billion capital expenditure program in 2007," said Papa.

Capital Structure

Recognizing the company's strong financial position, Standard and Poor's Credit Rating Services upgraded EOG to A- after the end of the first quarter.

"2007 is shaping up to be an active drilling year with good organic production growth. Combined with our continued focus on returns and cost control, we expect to end the year as we began, with a very strong balance sheet," noted Papa.

Conference Call Scheduled for May 1, 2007

EOG's first quarter 2007 conference call will be available via live audio webcast at 8 a.m. Central Daylight Time (9 a.m. Eastern Daylight Time) Tuesday, May 1, 2007. To listen, log on to www.eogresources.com. The webcast will be archived on EOG's website through Tuesday, May 15, 2007.

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 release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 of them or by 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 its expectations reflected in 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 the 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 and interest rates; the timing and impact of liquefied natural gas imports and changes in demand or prices for ammonia or methanol; the extent and effect of any hedging activities engaged in by EOG; 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 availability and cost of drilling rigs, experienced drilling crews, materials and equipment used in well completions, and tubular steel; the availability, terms and timing of governmental and other permits and rights of way; the availability of pipeline transportation capacity; 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; acts of war and terrorism and responses to these acts; weather; and financial market conditions. In light of these risks, uncertainties and assumptions, the events anticipated by EOG's forward-looking statements might not occur. 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 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, 2006, available from EOG at P.O. Box 4362, Houston, Texas 77210-4362 (Attn: Investor Relations). You can also obtain this form 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
				2007	2006
Net Operating Revenues			$	875.2	$	1,084.5
Net Income Available to Common			$	216.8	$	424.8
Net Income Per Share Available to Common
	Basic		$	0.89	$	1.76
	Diluted		$	0.88	$	1.73
Average Number of Shares Outstanding
	Basic			242.8		241.1
	Diluted			246.7		245.9
SUMMARY INCOME STATEMENTS
(Unaudited; in thousands)
			Quarter
			Ended March 31
			2007		2006
Net Operating Revenues
	Wellhead Natural Gas		$	735,642	$	789,061
	Wellhead Crude Oil, Condensate and Natural Gas Liquids			174,864		184,718
	(Losses) Gains on Mark-to-Market Commodity Derivative Contracts			(39,801)		107,024
	Other, Net			4,508		3,733
		Total		875,213		1,084,536
Operating Expenses
	Lease and Well			104,325		87,484
	Transportation Costs			37,748		28,096
	Exploration Costs			26,384		39,392
	Dry Hole Costs			16,810		10,726
	Impairments			24,042		22,773
	Depreciation, Depletion and Amortization			244,342		177,652
	General and Administrative			43,879		36,291
	Taxes Other Than Income			40,648		53,694
		Total		538,178		456,108
Operating Income				337,035		628,428
Other Income, Net				5,924		14,556
Income Before Interest Expense and Income Taxes				342,959		642,984
Interest Expense, Net				7,638		13,153
Income Before Income Taxes				335,321		629,831
Income Tax Provision				117,654		203,124
Net Income				217,667		426,707
Preferred Stock Dividends				875		1,858
Net Income Available to Common			$	216,792	$	424,849

EOG RESOURCES, INC.
OPERATING HIGHLIGHTS
(Unaudited)
			Quarter
			Ended March 31
			2007		2006
Wellhead Volumes and Prices
Natural Gas Volumes (MMcfd)
	United States			915		758
	Canada			222		229
		United States & Canada		1,137		987
	Trinidad			253		283
	United Kingdom			30		34
		Total		1,420		1,304
Average Natural Gas Prices ($/Mcf)
	United States		$	6.42	$	7.77
	Canada			6.43		7.87
		United States & Canada Composite		6.42		7.79
	Trinidad			2.81		2.44
	United Kingdom			5.55		11.56
		Composite		5.76		6.72
Crude Oil and Condensate Volumes (MBbld)
	United States			21.9		21.0
	Canada			2.5		2.6
		United States & Canada		24.4		23.6
	Trinidad			4.3		5.4
	United Kingdom			0.1		0.2
		Total		28.8		29.2
Average Crude Oil and Condensate Prices ($/Bbl)
	United States		$	53.76	$	60.42
	Canada			51.76		51.95
		United States & Canada Composite		53.55		59.48
	Trinidad			59.91		61.79
	United Kingdom			52.87		57.86
		Composite		54.51		59.90
Natural Gas Liquids Volumes (MBbld)
	United States			9.5		7.3
	Canada			1.1		0.7
		Total		10.6		8.0
Average Natural Gas Liquids Prices ($/Bbl)
	United States		$	37.07	$	37.19
	Canada			36.37		42.77
		Composite		37.00		37.69
Natural Gas Equivalent Volumes (MMcfed)
	United States			1,104		927
	Canada			243		249
		United States & Canada		1,347		1,176
	Trinidad			279		316
	United Kingdom			31		35
		Total		1,657		1,527
Total Bcfe				149.1		137.5

	EOG RESOURCES, INC.
	SUMMARY BALANCE SHEETS
	(Unaudited; in thousands, except share data)
			March 31,		December 31,
			2007		2006
	ASSETS
Current Assets
	Cash and Cash Equivalents		$	141,700	$	218,255
	Accounts Receivable, Net			734,231		754,134
	Inventories			122,461		113,591
	Assets from Price Risk Management Activities			41,330		130,612
	Income Taxes Receivable			42,202		94,311
	Deferred Income Taxes			9,767		-
	Other			36,415		39,177
	Total			1,128,106		1,350,080
Oil and Gas Properties (Successful Efforts Method)				14,793,485		13,893,851
	Less: Accumulated Depreciation, Depletion and Amortization			(6,212,647)		(5,949,804)
	Net Oil and Gas Properties			8,580,838		7,944,047
Other Assets				117,910		108,033
Total Assets			$	9,826,854	$	9,402,160
	LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
	Accounts Payable		$	924,644	$	896,572
	Accrued Taxes Payable			80,194		130,984
	Dividends Payable			22,030		14,718
	Deferred Income Taxes			21,071		144,615
	Other			50,607		68,123
	Total			1,098,546		1,255,012
Long-Term Debt				820,042		733,442
Other Liabilities				315,102		300,907
Deferred Income Taxes				1,747,500		1,513,128
Shareholders' Equity
	Preferred Stock, $0.01 Par, 10,000,000 Shares Authorized:
		Series B, Cumulative, $1,000 Liquidation Preference Per Share,
		53,260 Shares Outstanding at March 31, 2007 and
		December 31, 2006		52,919		52,887
	Common Stock, $0.01 Par, 640,000,000 Shares Authorized and
		249,460,000 Shares Issued		202,495		202,495
	Additional Paid In Capital			140,642		129,986
	Accumulated Other Comprehensive Income			194,628		176,704
	Retained Earnings			5,356,647		5,151,034
	Common Stock Held in Treasury, 4,979,921 Shares at
		March 31, 2007 and 5,724,959 Shares at December 31, 2006		(101,667)		(113,435)
		Total Shareholders' Equity		5,845,664		5,599,671
Total Liabilities and Shareholders' Equity			$	9,826,854	$	9,402,160

	EOG RESOURCES, INC.
	SUMMARY STATEMENTS OF CASH FLOWS
	(Unaudited; in thousands)
			Quarter
			Ended March 31
			2007		2006
Cash Flows from Operating Activities
Reconciliation of Net Income to Net Cash Provided by Operating Activities:
	Net Income		$	217,667	$	426,707
	Items Not Requiring Cash
		Depreciation, Depletion and Amortization		244,342		177,652
		Impairments		24,042		22,773
		Stock-Based Compensation Expenses		14,211		9,003
		Deferred Income Taxes		96,999		106,326
		Other, Net		(1,695)		(4,444)
	Dry Hole Costs			16,810		10,726
	Mark-to-Market Commodity Derivative Contracts
		Total Losses (Gains)		39,801		(107,024)
		Realized Gains		47,268		30,054
	Other, Net			10,219		4,299
	Changes in Components of Working Capital and Other Assets and Liabilities
		Accounts Receivable		22,935		135,150
		Inventories		(8,844)		(13,370)
		Accounts Payable		23,431		(9,535)
		Accrued Taxes Payable		1,967		29,298
		Other Assets		(3,623)		7,385
		Other Liabilities		(14,356)		(5,046)
	Changes in Components of Working Capital Associated with
	Investing and Financing Activities			(32,694)		(33,187)
Net Cash Provided by Operating Activities				698,480		786,767
Investing Cash Flows
	Additions to Oil and Gas Properties			(867,936)		(589,048)
	Proceeds from Sales of Assets			2,939		2,741
	Changes in Components of Working Capital Associated with
	Investing Activities			32,959		33,288
	Other, Net			(26,173)		(5,253)
Net Cash Used in Investing Activities				(858,211)		(558,272)
Financing Cash Flows
	Net Commercial Paper and Revolving Credit Facility Borrowings			116,600		-
	Long-Term Debt Repayments			(30,000)		(52,325)
	Dividends Paid			(15,522)		(11,432)
	Excess Tax Benefits from Stock-Based Compensation Expenses			7,409		7,177
	Proceeds from Stock Options Exercised and Employee Stock Purchase Plan			5,276		6,129
	Other, Net			(265)		(101)
Net Cash Provided by (Used in) Financing Activities				83,498		(50,552)
Effect of Exchange Rate Changes on Cash				(322)		(427)
(Decrease) Increase in Cash and Cash Equivalents				(76,555)		177,516
Cash and Cash Equivalents at Beginning of Period				218,255		643,811
Cash and Cash Equivalents at End of Period			$	141,700	$	821,327

EOG RESOURCES, INC.
QUANTITATIVE RECONCILIATION OF ADJUSTED NET INCOME AVAILABLE TO COMMON (Non-GAAP)
TO NET INCOME AVAILABLE TO COMMON (GAAP)
(Unaudited; in thousands, except per share data)
The following chart adjusts three-month periods ended March 31 reported Net Income Available to Common (GAAP) to reflect actual cash realized from oil and gas hedges by eliminating the unrealized mark-to-market gains or losses from these transactions. 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. EOG management uses this information for comparative purposes within the industry.
		Quarter
		Ended March 31
		2007		2006
Reported Net Income Available to Common (GAAP)		$	216,792	$	424,849
Mark-to-Market (MTM) Commodity Derivative Contracts Impact
	Total Losses (Gains)		39,801		(107,024)
	Realized Gains		47,268		30,054
	Subtotal		87,069		(76,970)
	After Tax MTM Impact		56,029		(49,530)
Adjusted Net Income Available to Common (Non-GAAP)		$	272,821	$	375,319
Adjusted Net Income Per Share Available to Common (Non-GAAP)
	Basic	$	1.12	$	1.56
	Diluted	$	1.11	$	1.53
Average Number of Shares Outstanding
	Basic		242,763		241,118
	Diluted		246,677		245,923

EOG RESOURCES, INC.
QUANTITATIVE RECONCILIATION OF DISCRETIONARY CASH FLOW AVAILABLE TO COMMON (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 (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
			2007		2006
Net Cash Provided by Operating Activities (GAAP)			$	698,480	$	786,767
Adjustments
	Exploration Costs (excluding Stock-Based Compensation Expenses)			23,345		37,665
	Changes in Components of Working Capital and Other Assets and Liabilities
		Accounts Receivable		(22,935)		(135,150)
		Inventories		8,844		13,370
		Accounts Payable		(23,431)		9,535
		Accrued Taxes Payable		(1,967)		(29,298)
		Other Assets		3,623		(7,385)
		Other Liabilities		14,356		5,046
	Changes in Components of Working Capital Associated
		with Investing and Financing Activities		32,694		33,187
	Preferred Stock Dividends			(875)		(1,858)
Discretionary Cash Flow Available to Common (Non-GAAP)			$	732,134	$	711,879