Entering the opening of NHL free agency, the Edmonton Oilers had 18 of 23 roster players signed and $7,415,834 in cap room for five players. A new goaltender, at least one winger and the trade of veteran defenceman Darnell Nurse were expected to arrive on July 1.

It all went down in a flurry of early afternoon activity. Oilers general manager Stan Bowman managed to deal Nurse, rework the left side of the defence, find a young goalie and add on the wing, all while avoiding middling talent that came with tremendous risk.

And it’s only Day 1.

Trades on July 1

His first deal brought in goaltender Devon Levi from the Buffalo Sabres. Levi is a top-end goaltending prospect, with four years of AHL experience behind him. The AHL analytics on Levi show a goalie who delivered a strong performance over 2025-26. In AHL GSAA (goals saved above average), the waiver-eligible prospects delivered the following: Michael DiPietro plus-37 GSAA, Levi 16, Sebastian Cossa 2.

Levi is a solid bet for an organization that needed a backup goaltender who could eventually become the starter. He’s beyond NHL-ready and joins a team that just hired Mike Babcock, a coach known for a defensive style that allows his goaltenders to have success.

The second deal was the big one, sending Nurse to the San Jose Sharks for defencemen Shakir Mukhamadullin and Zack Sharp. The key fact surrounding the deal? No retention on Nurse’s $9.25 million cap hit. Mukhamadullin is an RFA; his salary was $1 million last season, and he’ll likely earn around $2 million on his next deal. Mukhamadullin, 24, is 6-foot-4 and 200 pounds. His skating is NHL average, and he has some chaos to his game. The Sharks used him most often against mid-level talent, suggesting he will spend time on the second or third pairing in Edmonton. He can play both sides.

Sharp, 21, is 6-foot-2 and 180 pounds. He was a teammate of Oilers signing Owen Michaels last season at Western Michigan University. He must be signed by June 1, 2027.

Free-agent signings on July 1

As the early hours of free agency slipped away, Bowman was unable to sign any player because of the Nurse situation. Once the trade was announced, the team signed a few free agents on Day 1.

Ryan Shea is an astute signing for several reasons. He’s a quality passer and doesn’t turn over pucks, making him an ideal candidate for the second or third pairing. He turned pro at 23 (2020-21) and spent part or all of four seasons in the AHL before graduating to the NHL. Since arriving with the Pittsburgh Penguins in 2023-24, Shea has increased his role each season. In 2025-26, he posted strong offensive numbers (6-29-35 in 80 games), outscored opponents handsomely at five-on-five (58 percent goal share, 51 percent expected) while playing most of his minutes against mid-level competition. Like Mukhamadullin, Shea probably plays most of the time on the second or third pairing, depending on how well Jake Walman is playing on the second pair. Shea is more likely to play on the Edmonton penalty kill than power play, despite the strong offensive numbers.

Kasperi Kapanen was a late afternoon re-signing by the Oilers. Edmonton used Kapanen effectively on the second line a year ago, and he rewarded the team with increasing consistency that culminated in a strong playoff run (four goals in six games). The Oilers will use him as a middle six winger; his five-on-five goal share last year was 55 percent. The AAV ($2.6 million) came in well under the industry estimates.

The Oilers took a flier on Eduards Tralmaks, who’s 29 and seemingly a long shot for the NHL. His contract (big AHL money) reflects the thinking of the organization: The AHL Bakersfield Condors are going to have some veterans to help ease younger players into pro hockey. Tralmaks has size (6-foot-4, 225 pounds) and scored 26 goals last season in 64 AHL games.

Mathieu Joseph was signed late in the day. He’s a speedy player with 471 games of NHL experience, and like Tralmaks, has the offensive gear to create on the fourth line. He could be a player coach Babcock utilizes as part of an aggressive forecheck, and represents a possible hidden gem among the forwards outside the top two lines.

In the early evening, the club re-signed winger Max Jones. It’s $850,000 in the NHL or AHL, giving Jones one of the highest contracts among Condors. His performance late last season was so impressive that there’s a chance he grabs an NHL job this time around. At 28, there’s still time for him to emerge.

The final signing of the evening could have the biggest impact. Veteran goaltender Frederik Andersen, coming off a Stanley Cup season with the Carolina Hurricanes, signed a one-year, $2.8 million deal. Andersen starred for the Toronto Maple Leafs when Babcock coached the team, delivering some of his best seasons. Andersen immediately goes to the top of the depth chart in net.

Projected depth chart (including RFAs)
Left WingCentreRight Wing

Matt Savoie

Connor McDavid

Zach Hyman

Vasily Podkolzin

Leon Draisaitl

Ike Howard

Ryan Nugent-Hopkins

Jason Dickinson

Kasperi Kapanen

Colton Dach (RFA)

Josh Samanski

Trent Frederic

Mathieu Joseph

Left DefenceGoalRight Defence

Mattias Ekholm

Frederik Andersen

Evan Bouchard

Jake Walman

Tristan Jarry

Connor Murphy

Ryan Shea

Devon Levi

Ty Emberson

Shakir Mukhamadullin (RFA)

Kapanen can slide up and down between the second and third lines. Ike Howard should get a long look this fall as a scorer on the Leon Draisaitl line, but Kapanen represents quality insurance. The Joseph signing is just $1 million and would be easy to overlook, but his style fits the head coach perfectly. He’s a player to watch this fall.

In net, Andersen is the story. If he’s healthy, Babcock is going to run with him. Jarry will be on the team, and Levi should make the team, too. Andersen’s injury history makes it necessary.

The defence saw the biggest turnover. Walman’s injury worries, along with Mattias Ekholm’s age, may have led directly to the activity today from the Oilers. Spencer Stastney, an RFA like Dach, appears to be on the outside looking in at this time.

Key takeaways

Andersen gets top billing, while the left side of the defence is clearly in a period of transition. It’s impossible to ascertain what the left side of the second pair will look like next season. Shea is the best in coverage; he may win the day.

Finally, a distant bell in Joseph. His resume is a perfect fit for Babcock. I’ve listed him where he belongs today, but that could change by opening night. Joseph’s star may be rising. For a mere $1 million, the Oilers may have signed a key component for 2026-27. The latest cap update from PuckPedia has the Oilers with $6 million in cap room. That suggests there is more to come.