Edmonton Oilers captain Connor McDavid tried to find the positives from his team's playoff run after reaching the Western Conference final for the first time in his seven-year career.

"It feels like it's steps right?" McDavid said. "Every team kind of goes through it. They become a playoff team and then they get there most years and then they go on a little bit of a run and they learn that lesson and then it becomes their time to win.

"You look at a Colorado team that's been in that situation many, many times, and obviously they're knocking on the door right now. It's a step in the right direction, but that's all it is."

The Oilers lost 6-5 to the Avalanche in overtime of Game 4 on Monday, seeing their season end in a four-game sweep for the second straight season. 

Edmonton held a 3-1 lead entering the third period of Game 4 and a 4-2 lead in the frame before seeing the Avalanche storm back to take a 5-4 lead with less than six minutes remaining. Zack Kassian scored to push the game to overtime, where Artturi Lehkonen ended the series just 1:19 in off of a rebound.

"I liked that there was no quit," McDavid said of the Oilers performance. "I don't think anyone quit out there, no one quit on each other. That's always a good sign, but we, obviously, let it get away."

The Oilers reached the postseason for the fourth time in the McDavid-era this season and a won series for the first time since reaching the second round in 2017. Edmonton was swept by the Winnipeg Jets in the first round last year and eliminated in the qualifying round of the 2020 playoffs by the Chicago Blackhawks.

"I'm proud of the group to get to this point, I don't think anyone necessarily expected us to be here," forward Leon Draisaitl said. "With that being said, we expected to be here, and we want to be here, and we want to be even further. I'm proud of the group, but it's very disappointing and it [stinks] right now. But we have to make sure that we come back next season and understand how hard it is to win, what it takes to go on a deep run, and take that next step."

According to CapFriendly, the Oilers are projected to have just over $7 million in cap space this off-season with Ryan McLeod, Jesse Puljujarvi and Kailer Yamamoto scheduled to hit restricted free agency and Evander Kane and Mikko Koskinen among the team's pending unrestricted free agents.