Smith (undisclosed) failed his physical Wednesday and will be placed on long-term injured reserve.
Smith (undisclosed) is unlikely to play in 2022-23, Daniel Nugent-Bowman of The Athletic reports.
Smith allowed six goals on 42 shots in Monday's 6-5 overtime loss to the Avalanche in Game 4.
Smith will get the starting nod at home versus Colorado in Monday's Game 4, Bob Stauffer of the Oilers Radio Network reports.
Smith will guard the home net Saturday in Game 3 against the Avalanche, per Daniel Nugent-Bowman of The Athletic.
Smith allowed four goals on 39 shots in a 4-0 loss to the Avalanche in Thursday's Game 2.
Smith will guard the road goal during Thursday's Game 2 versus the Avalanche.
Smith allowed six goals on 25 shots in an 8-6 loss to the Avalanche in Game 1.
Smith will guard the road goal in Game 1 of the Western Conference Finals versus the Avalanche on Tuesday, Tony Brar of Oilers TV reports.
Smith will guard the road goal in Thursday's Game 5 versus the Flames, per the NHL media site.