The 1994–95 season was nearly cancelled due to a lockout, however, on January 11, 1995, an agreement was made between the NHL owners and the players, and a shortened 48 game schedule was used for the season. The Oilers would name George Burnett as head coach of the club, as Burnett coached the Oilers AHL affiliate, the Cape Breton Oilers for the previous 2 seasons, including leading the team to the Calder Cup in 1993. Edmonton would get off to a solid start, and 27 games into the season, the Oilers sat in 2nd place in the Pacific Division with 26 points, only 3 behind the division leading Calgary Flames. The Oilers would then go on a 10-game winless streak, costing Burnett his job, as former Oilers goaltender Ron Low would replace him. It was too little too late, as Edmonton would finish the season 17–27–4, earning 38 points, and missing the playoffs for the 3rd straight season. Offensively, Doug Weight would lead the team with 40 points, while David Oliver would be the Oilers goal scoring leader with 16. Jason Arnott had another solid season, scoring 15 goals and earning 37 points. Defenseman Igor Kravchuk led the blueline with 18 points in 36 games, while Bryan Marchment had a club high 184 penalty minutes. In goal, Bill Ranford would play in 40 games, winning 15 of them, with a 3.62 GAA and 2 shutouts along the way. However, the Oilers would allow a league-high 183 goals and Oilers goaltenders would combine for a league-low .877 save percentage.
The 1994–95 season was nearly cancelled due to a lockout, however, on January 11, 1995, an agreement was made between the NHL owners and the players, and a shortened 48 game schedule was used for the season. The Oilers would name George Burnett as head coach of the club, as Burnett coached the Oilers AHL affiliate, the Cape Breton Oilers for the previous 2 seasons, including leading the team to the Calder Cup in 1993. Edmonton would get off to a solid start, and 27 games into the season, the Oilers sat in 2nd place in the Pacific Division with 26 points, only 3 behind the division leading Calgary Flames. The Oilers would then go on a 10-game winless streak, costing Burnett his job, as former Oilers goaltender Ron Low would replace him. It was too little too late, as Edmonton would finish the season 17–27–4, earning 38 points, and missing the playoffs for the 3rd straight season. Offensively, Doug Weight would lead the team with 40 points, while David Oliver would be the Oilers goal scoring leader with 16. Jason Arnott had another solid season, scoring 15 goals and earning 37 points. Defenseman Igor Kravchuk led the blueline with 18 points in 36 games, while Bryan Marchment had a club high 184 penalty minutes. In goal, Billie Ranford would play in 40 games, winning 15 of them, with a 3.62 GAA and 2 shutouts along the way. However, the Oilers would allow a league-high 183 goals and Oilers goaltenders would combine for a league-low .877 save percentage.