Major update in the Oilers' trade for Jake Walman

UPDATE: NHL insider Frank Seravalli reports that indeed the Edmonton Oilers are acquiring defenseman Jake Walman from the San Jose Sharks, but that the trade may have to wait until to tomorrow.

Oilers insider Ryan Rishaug also says that the return for the Sharks will be a conditional pick and a prospect.

Read below for our earlier report on this deal in development.

Another day, another San Jose Sharks trade... 

Well, two I guess.

The Sharks traded forward Nico Sturm to the Florida Panthers earlier today and now there are reports that they have traded defenseman Jake Walman to the Edmonton Oilers. The kicker is that the Oilers reportedly have sent a 1st round pick to the Sharks in the deal.

From NHL insider David Pagnotta, confirmed by Sportsnet insider Elliotte Friedman:

If true that's a WHOPPING price to pay.

The thing is, Walman is kind of sneaky great. And he's on a good contract.

The 29 year old is in the second year of a three year deal that pays him $3.4 million annually. He's been very productive on a bad Sharks team this year too, with 32 points in just 50 games.

This could be a shrewd acquisition for the Oilers, but we'll reserve judgement until we see all the final details. Stay tuned.