Eagle Nest Lake sits about fifteen minutes north of Angel Fire at the north end of the Moreno Valley, a high-altitude reservoir cradled between forested ridges at around 8,200 feet. The lake is one of the better trout fishing spots in New Mexico — planted regularly with brown and rainbow trout — and the state park operates boat ramps, a marina, and primitive camping on the shore.
In summer the lake is popular for kayaking and paddleboarding, and the surrounding meadows are good for wildlife watching: elk herds move through the valley in the early mornings and evenings. Winter brings ice fishing, and the village of Eagle Nest has a handful of motels and diners that serve as a quiet alternative base to Angel Fire itself.