Updated June 2025
The Alberta Energy Regulator (AER) provides for the safe, efficient, orderly, and environmentally responsible development of hydrocarbon, geothermal, and mineral resources over their entire life cycle. As part of this mandate, we provide our stakeholders with credible information about Alberta’s energy resources that can be used for decision making.
Our Alberta Energy Outlook 2025 report (ST98) provides independent and comprehensive information on the state of hydrocarbon reserves and the supply and demand outlook for Alberta’s diverse energy resources: crude bitumen, crude oil, natural gas, natural gas liquids, coal, and emerging resources. The report includes supply and demand data for 2024 and a ten-year supply and demand forecast for 2025 to 2034 (the forecast period). In addition, this report discusses prices and capital expenditures in the oil and gas sector, carbon capture, utilization, and storage (CCUS), pipelines, and other infrastructure related to Alberta’s energy resources. Reserves data have been updated this year to reflect an external analysis and will be revised as new information becomes available.
This year's production forecast does not account for the ongoing evaluation of oil and gas reserves and resources by McDaniel and Associates Consultants Ltd. The impact of the new data on the production forecast will be evaluated alongside other factors, such as pipeline takeaway capacity, market conditions, and investment trends, in next year's Alberta Energy Outlook publication.
Electronic data files for crude oil and natural gas reserves and PDF maps of designated fields, development entities, and documents related to ST98 are available for free from the AER's product and services catalogue. A historical reserve file is available for purchase on the same product catalogue.
The Alberta Energy Outlook 2025 report [PDF], executive summary [PDF], and the report highlights infographic [PDF] are available for download in PDF format.
For general inquiries, contact Inquiries@aer.ca.
*Some of the data for this report contains information provided by third parties. For additional information about the limitations and restrictions applicable to these documents, please refer to the AER Copyright and Disclaimer page.
