The Edmonton Oilers traded Dustin Penner to the Los Angeles Kings for prospect Colten Teubert, a first round pick and a conditional pick.

Penner has 21 goals and 18 assists in 62 games this season, his fourth with Edmonton since the Oilers acquired him from Anahiem via a contract offer sheet in 2007. He has one year remaining on his existing contract, with a cap hit of $4.25 million US.

Penner came to the Oilers in 2007 — accepting an offer as a restricted free agent that Anaheim Ducks didn't match — and he has often been the target of the fans displeasure, especially after signing a five-year contract worth $21.25-million US.

"There were ups and downs," Penner said of his time in Edmonton. "I had a decent first year. The second year was something I think a lot of people would like to forget. The last two I've enjoyed thoroughly.

si-edm-penner220

Dustin Penner speaks to the Edmonton media Monday at Rexall Place. ((CBC))

"I came here with a big contract … that also comes with big expectations and if I tried to meet everyone's expectations I would drive myself insane. So I focused on becoming more consistent and a player who could play every position. I think I'm on my way to that, I'm not there yet and it's too bad I won't be able to do it here."

Team captain Shawn Horcoff said the club will miss Penner's presence on and off the ice.

"He's such a good teammate and it's tough to see a friend go," said Horcoff. "At times it's been a challenging situation for him. His second year was as difficult a time for him as for any player and I was so impressed with how he handled that.

"With his size, there are not a lot of guys can do what he can do on the ice."

Penner returns to California where he still has a house and said going to the Kings will be easier since he knows some of the players there as well.

"It's probably one of the better place I could go as far as having a house down there and a car."

The six-foot-three Teubert, who turns 21 next week, is currently playing in the American Hockey League.  He was selected 13th overall in the 2009 entry draft by the Kings and represented Canada at the world junior championships.

The draft picks Edmonton receives will include a first round selection in June draft, and either a second or third round pick in 2012, a pick that will be determined by how far Los Angeles goes in the playoffs next season.

The Oilers also engaged in a minor swap of defencemen with Colorado on Monday, sending Shawn Belle to the Avalanche for Kevin Montgomery. A fourth-round pick in 2006, Montgomery was once a member of the U.S. Under-18 world championship squad.

With files from The Canadian Press