Report: Oilers closing in on extension with Talbot (Updated: three years, $12.5M)

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Sounds like Cam Talbot will be in Edmonton for the long haul.

Talbot, acquired from the Rangers at last year’s draft to solve the Oilers’ goaltending woes, is reportedly close to signing a multi-year extension with the club, per TSN.

UPDATE: It’s done — three years, $12.5 million for an average annual cap hit of $4.16M.

The news is a tad surprising given how Talbot’s first year in Edmonton has gone.

Back in mid-December, the 28-year-old called his season “extremely frustrating.” He was 3-8-1 at the time with a .889 save percentage and 3.17 GAA, and had given up at least four goals in each of his last four starts — a far, far cry from last year, when he went 21-9-4 with a .926  and 2.21, finishing seventh in Vezina voting.

Recently though, Talbot has played better.

He’s posted a sparking .942 save percentage in January, stopping 162 of 172 shots faced. He’s also allowed three goals or fewer in each of his six appearances, and has managed to wrestle away some of the Oilers’ No. 1 duties from Anders Nilsson, who had been carrying the starter’s workload in the early parts of the campaign.

Talbot’s current one-year, $1.45 million deal expires in July.