Souray has been playing for Hershey of the AHL this season after a falling out with the Oilers' management. The 34-year-old veteran demanded a trade in the offseason, but was told by the team to stay away from training camp.
Souray is earning $4.5 million this season and next season. If a team claims him, the Oilers would pay half of what is left on his contract. Souray was sent to Hershey after Edmonton couldn't find a willing trade partner to take on his hefty salary.
With several high-profile defensemen being traded in recent days -- including Tomas Kaberle, Erik Johnson, Eric Brewer and Ian White -- Oilers general manager Steve Tambellini felt the time was right to see if a team would take Souray off his team's hands.
"It was recognizing how many people are looking for defensemen," Tambellini said Saturday after Edmonton's 5-3 home win against Atlanta. "This is an opportunity for some team and for Sheldon.
"Everyone is asking for the same type of things out there, and this was the right time."
Souray has three goals and 10 assists this season with Hershey.