Schultz, 31, has four assists in 60 games this season, his third with the Oilers.
The Blue Jackets (32-25-5) entered Wednesday tied with the New York Rangers for seventh place in the Eastern Conference standings.
"As of today, we're a playoff team," Blue Jackets general manager Jarmo Kekalainen said. "We like our team and believe in our team. Our chemistry is great."