Wood-based bioenergy systems developed and managed by Indigenous communities can improve their ability to thrive and grow economically and socially and improve their resource-based decision-making processes. In this study, we collaborated with Cold Lake First Nations (CLFN), a community located in Northern Alberta, Canada, to investigate the opportunities and challenges of biomass mobilization from different feedstocks. Based on remote sensing and ground data, harvest residue and fire residue feedstocks were identified within the boundaries of the community and inside a radius of 200 km at 18 and 39 oven-dry metric tonnes (odt)/ha, respectively. CLFN also received woody biomass from local oil and gas producers that operate in their traditional territory, which is estimated at 19,000 odt/year. Despite being abundant, the woody biomass is difficult to access due to the extensive human footprint that surrounds the area and constrains the landscape. In terms of greenhouse gas (GHG) mitigation, the potential also appears limited because the community has access to natural gas at a competitive and stable price, unlike off-grid communities. In terms of cost savings, the low oil and gas prices make the biomass resources (pellets) less competitive to utilize than the natural gas that is available in the community.