The Beaver River begins at Beaver Lake. The basin and the Beaver River extend eastward through urban centres of Bonnyville, Cold Lake, and Grand Centre and across Saskatchewan and Manitoba to Hudson's Bay. This basin includes the Sand River sub-basin and is part of Churchill.
Major lakes in the basin include Cold Lake, Moose Lake, Muriel Lake, Ethel Lake, and Wolf Lake.
- The Beaver River Basin is one of the smaller basins within the province. It occupies three percent of Alberta.
- The Cold Lake Area Weapons Range comprises the majority of the northern part of the basin.
- Cold Lake Clearwater (CLC) deposit, Alberta's second largest producer of crude bitumen, is in the Beaver basin. The amount of freshwater used by the petroleum sector is expected to decline, but use of saline water is expected to increase. Water conservation planning is a big part of future petroleum projects and expansion.
- The three largest allocations for commercial purposes are for bottling, snow making, and golf courses.