Honestly I think it’s riskier. He’s in year 1 of an 8 year deal and has had some back issues.
Not a perfect player and there are risks. But still, age 29, playing over his career TOI this year (23:19 vs. 22:09 with career low OZ starts 37.9% vs 45.8) while healthy with his size and two way defending game is pretty compelling veteran package. He's been durable since the injury playing 80 games last season and workload increased in the playoffs with 25 minute TOI, 5 points, +5 in 12 games.
Parayko's on my shortlist of players who could significantly impact this team's ability to defend from top of roster positioning. I'm sure Oil alumni could/would also be back-channeling McTavish to get some insight into Parayko's health and season which hasn't been light's out.