via TSN,

The Calgary Flames have filed an offer sheet on Colorado Avalanche forward Ryan O'Reilly according to TSN Hockey Insider Darren Dreger.

Dreger reports that the offer sheet carries an average annual value of $5 million. O'Reilly will make $1 million in base salary for 2012-13 with a signing bonus worth $2.5 million. His 2013-14 salary will be $6.5 million.

The 22-year-old forward scored 18 goals and 37 assists in 81 games.

added 5:54pm,