A new sequence stratigraphic division for the Upper Givetian and Frasnian of the Alberta Basin is proposed. This stratigraphic framework is based upon a grid of regional electric log cross-sections, tied to cored wells and adjacent mountain outcrops, as well as conodont biostratigraphic data from core and outcrop. The strata between the base of the Givetian Gilwood Formation (Elk Point Group) and the top of the Blue Ridge Member (Graminia Formation) are interpreted as a second-order depositional sequence. These strata represent a major episode of marine carbonate deposition in the Alberta Basin, bracketed by regional unconformities with associated areally-extensive siliciclastic deposits. The sequence is divided into nine third-order depositional sequences. The bounding surfaces and internal character of each third-order sequence are described with examples from core and outcrop. Sequence stratigraphy is used as a unifying conceptual framework to explain various elements of the Upper Devonian strata. These elements include regional dolomitization patterns, distribution of source rocks, hydrocarbon and diagenetic fluid migration, and hydrocarbon trapping. The distribution of ubiquitous matrix dolomites is attributed to regional seepage reflux of brines originating at sequence boundaries in the upper Frasnian. Major source rocks such as the Duvernay Formation and Bigoray Member (Nisku Formation) are associated with the time of maximum flooding of the second-order and a third-order depositional sequence respectively. The quality of hydrocarbon traps is shown to be controlled by their position in the second-order sequence. Traps within the late transgressive to early highstand portion of the sequence contain 80% of the system's hydrocarbons. Aspects of the Upper Devonian carbonate depositional system are described. Atoll reefs in the Alberta Devonian do not typically develop extensive lowstand deposits but, in contrast, associated carbonate ramps display sequence stratigraphic geometries such as those described by Sarg, 1988. A noteworthy aspect of the third-order sequences is the common aggradational or even retrogradational deposition in the highstand systems tract. This reflects the influence of environmental factors on stratigraphic stacking patterns. They do not always follow a simple pattern predicted from eustasy.