Edmonton Oilers contract extensions: Kulak, Henrique and Philp in focus

The Edmonton Oilers find themselves at a critical juncture as the 2024-25 season unfolds. With several key players entering the final year of their contracts, general manager Stan Bowman faces crucial decisions that will shape the franchise’s competitive window. Among the names generating the most discussion are defenseman Brett Kulak, veteran center Adam Henrique, and emerging forward Noah Philp. Each represents a different piece of the Oilers’ roster puzzle, and the timing and structure of potential extensions could have lasting implications for a team that came within one game of hoisting the Stanley Cup last season.

While the front office has been busy securing long-term commitments from franchise cornerstones like Connor McDavid and adding stability on the blue line with extensions for Mattias Ekholm and Jake Walman, the work is far from finished. The contracts involving Henrique, Philp, and Kulak present unique challenges and opportunities that require careful navigation in an increasingly tight salary cap environment.

Brett Kulak’s extension talks highlight Edmonton Oilers contract extensions considerations

The conversation around Edmonton Oilers contract extensions for Henrique, Philp, and Kulak begins with the steadiest presence of the three. Brett Kulak has quietly become one of the most reliable defensemen on the Oilers’ roster since arriving from Montreal at the 2022 trade deadline. According to reports from TSN’s Ryan Rishaug, extension discussions have already begun between Kulak’s camp and the Oilers, though nothing appears imminent.

The 31-year-old blueliner is completing the final season of a four-year, $11 million contract that carries a cap hit of $2.75 million. That team-friendly number has allowed Edmonton to deploy him in various situations without worrying about salary cap implications. Kulak has thrived in a third-pairing role, occasionally moving up to the second pair when injuries strike, and has demonstrated remarkable consistency at both ends of the ice.

Last season represented a career year for Kulak, who set personal bests with seven goals, 18 assists, and 25 points in the regular season. More importantly, he contributed a goal and five points across 22 playoff games during the Oilers’ run to the Stanley Cup Final. His value extends well beyond the scoresheet, though. Kulak’s defensive responsibility, strong skating ability, and versatility in handling different pairings have made him indispensable to head coach Kris Knoblauch’s defensive structure.

The challenge facing Bowman is determining the appropriate term and dollar amount for a player entering his thirties. While Kulak’s current deal looks like a bargain, his next contract will likely require a raise, potentially in the range of $3.5 million annually based on comparable players around the league. The Oilers must weigh whether investing more term and money in an aging defenseman makes sense, especially with younger options like Arto Leppänen potentially ready to step into an NHL role next season.

There’s also the question of whether Kulak might prefer to test unrestricted free agency on July 1. As a reliable, veteran defenseman with extensive playoff experience, he could attract interest from teams willing to offer a larger role or more lucrative contract. Edmonton’s front office would be wise to avoid letting negotiations drag into the spring, when a strong playoff performance could drive up his market value even further.

Adam Henrique brings veteran leadership to Edmonton Oilers contract extensions talks

At 34 years old, Adam Henrique represents the elder statesman among the pending unrestricted free agents on the Oilers roster. Since joining Edmonton partway through last season, “Rico” has provided exactly what the team needed: a responsible two-way center capable of winning crucial faceoffs, killing penalties, and contributing offensively when opportunities arise.

Henrique’s current $3 million cap hit has proven to be money well spent. Through the early portion of the 2024-25 season, he’s posted three points in his first eight games while maintaining strong possession metrics and excelling in the faceoff circle with a 62% success rate. His 55.6% faceoff percentage from last season demonstrated similar dominance, a skill that becomes exponentially more valuable in tight playoff contests where every draw matters.

What makes Henrique particularly valuable is his ability to impact winning without necessarily filling the stat sheet. He works the boards effectively, makes smart decisions with the puck, and understands situational hockey at an elite level. During last spring’s playoff run, Henrique’s experience and compete level shone through in critical moments, providing the depth scoring and defensive responsibility that championship teams require.

The question facing the Oilers is whether to commit to another year or two of Henrique’s services and at what price point. Veterans who can still contribute at both ends of the ice remain in demand across the NHL, as evidenced by teams’ willingness to pay for players like Corey Perry despite their advancing age. Bowman could potentially negotiate a short-term extension in the $2.5 to $3 million range, maintaining some financial flexibility while retaining a proven playoff performer.

Waiting too long to address Henrique’s contract status carries risks. If he continues producing at his current pace and Edmonton embarks on another deep playoff run, his value could increase significantly. Moreover, other contending teams searching for center depth at the trade deadline might view Henrique as an attractive rental option, creating complications for a team hoping to retain his services beyond this season.

Noah Philp emerges as priority in Edmonton Oilers contract extensions strategy

Perhaps the most intriguing name in the Edmonton Oilers contract extensions discussion involving Henrique, Philp, and Kulak is the youngest of the trio. Noah Philp has burst onto the scene during the early weeks of the 2024-25 season, showcasing a mature, well-rounded game that has many within the organization viewing him as a long-term building block.

The 27-year-old forward, who posted just two points in 15 games last season, has already matched that total through his first five appearances this year with three points. More impressively, Philp has demonstrated noticeable growth in multiple areas of his game. His faceoff percentage has improved significantly after previous struggles, his puck possession skills have become more refined, and his defensive awareness continues to develop.

At just $775,000 against the salary cap, Philp currently represents one of the best value contracts on Edmonton’s roster. According to reports from NHL Trade Talk, the Oilers view securing Philp to a new deal as a priority, potentially before addressing the situations with higher-profile pending free agents. The team’s reluctance to place him on waivers speaks volumes about how highly they value his potential—management clearly believes another organization would immediately claim him.

Philp’s late bloomer trajectory makes him a fascinating case study. As someone just establishing himself at the NHL level entering his late twenties, he doesn’t fit the typical profile of a player teams rush to extend. However, his combination of versatility, hockey intelligence, and improving offensive touch suggests significant upside remains untapped. If the Oilers can lock him into a bridge deal in the $1.5 to $2 million range for two or three years, they could have a bargain contract that looks increasingly team-friendly as Philp continues developing.

From a strategic standpoint, extending Philp sooner rather than later makes considerable sense. If his strong start continues and he establishes himself as a reliable middle-six contributor, his price tag will only increase. Additionally, a cost-controlled forward with Philp’s skill set could become a valuable trade chip should the Oilers need to make moves at the deadline while still in contention for a Stanley Cup.

Salary cap considerations shape Edmonton Oilers contract extensions approach

The broader context for these Edmonton Oilers contract extensions involving Henrique, Philp, and Kulak revolves around salary cap management. Despite recent extensions to McDavid, Ekholm, and Walman, the Oilers project to have approximately $18.7 million in cap space next summer. While that might sound like substantial room to maneuver, the team faces numerous decisions beyond these three players.

Stuart Skinner’s goaltending situation requires resolution, as does backup Calvin Pickard’s status. Other pending UFAs like Mattias Janmark, Troy Stecher, and Kasperi Kapanen will also need decisions made regarding their futures. Balancing all these contracts while maintaining flexibility to address any weaknesses that emerge during the season requires careful financial planning.

The timing of these potential extensions matters significantly. Locking in players before they have career years or strong playoff performances can save millions against the cap. Conversely, waiting too long and watching market value increase can force difficult decisions between paying premium prices or losing valuable contributors to free agency.

Bowman has shown a willingness to be proactive with extensions, as evidenced by the flurry of deals signed over recent weeks. Applying that same approach to Henrique, Philp, and Kulak could prevent complications down the road while providing players with the security of knowing their futures are settled in Edmonton.

The playoff factor in Edmonton Oilers contract extensions negotiations

One element that cannot be overlooked when discussing these Edmonton Oilers contract extensions is the playoff factor. Kulak, Henrique, and to a lesser extent Philp, have all experienced deep postseason runs with the organization. That shared experience creates intangible value that extends beyond regular season statistics.

Kulak’s 22 playoff games last spring demonstrated his ability to elevate his game when the stakes are highest. His steady defensive play and occasional offensive contributions helped the Oilers navigate through three rounds before falling in the Final. That track record matters when evaluating whether to commit term and dollars to a player approaching his mid-thirties.

Henrique similarly proved his playoff worth, bringing the kind of veteran savvy and competitive fire that championship teams require. His faceoff prowess becomes even more critical in playoff hockey, where every possession can swing momentum. Players who understand what it takes to win in May and June carry premium value that regular season contributors simply cannot match.

Philp’s limited playoff experience—just two games last spring—means his postseason credentials remain largely unproven. However, if Edmonton returns to the playoffs and Philp plays a meaningful role, his value to the organization could skyrocket. Securing him before that potential showcase could prove to be shrewd business.

The Stanley Cup Final appearance also provides Edmonton with a recruiting advantage when negotiating with their own free agents. Players who have tasted success and come tantalizingly close to the ultimate prize often prioritize remaining in situations where they believe a championship is achievable. The Oilers can sell Henrique, Philp, and Kulak on the prospect of finishing what they started, potentially accepting slightly below-market deals to remain part of a contender.

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As the season progresses and the trade deadline approaches, the contract situations surrounding Brett Kulak, Adam Henrique, and Noah Philp will require resolution. Each player brings distinct value to an Oilers team with legitimate Stanley Cup aspirations, and losing any of them without proper planning could create holes difficult to fill. General manager Stan Bowman must balance immediate competitive needs against long-term roster construction, all while navigating the constraints of a salary cap that leaves little margin for error. The decisions made regarding these three players will serve as a referendum on the front office’s ability to maintain Edmonton’s championship window while building sustainable success. Whether all three receive extensions, or some test free agency, the outcomes will significantly impact the Oilers’ trajectory for years to come.