Murphy, 32, has four goals and nine assists, while leading the Blackhawks in blocked shots (87) through 60 games this season.
"We have more lefts than rights, so in a simplistic way, yes," said Oilers general manager Stan Bowman ahead of the trade looking for a right-handed shooting defenceman. "But also, you don't want to overdo that too much, because sometimes a better player that is a left shot can play the right side. Ideally, you'd like to have three lefts and three rights in your pairs. It doesn't always work out that way. Over half the teams don't have that."
Bowman went on describe how the team is clearly in a win now mode after making it to the Stanley Cup Finals in back-to-back seasons, losing both to the Florida Panthers.
Edmonton are 1-2 since returning from the Olympic break and are currently 29-24-8 (66 points), sitting just behind the Anaheim Ducks (69 points) and Vegas Golden Knights (70) in the Pacific Division.
Murphy is in the final year of his four-year, $17.6 million contract and will be a free agent after the season ends. He spent the first four years of his career with the Arizona Coyotes (now Utah Mammoth) before spending the next nine with the Blackhawks.
The veteran has 47 goals and 126 assists through 805 career games.