Yes, its not uncommon for these to leak oil from time to time. Things do wear out. How many miles are on it?
There are a few things it could be. If you've got a TON of oil, and it looks fresh, then the leak is probably pretty substantial and noticeable.
So, the first thing I would do is clean it all up REALLY well. Get some simple green or degreaser of your choice and soak the whole valley with it. Let it sit and then flush with clean water and repeat until its clean.
Crank it up, and then get under the hood and start looking. This is probably HPOP (High Pressure Oil Pump) related, which is located at the front of the motor, just under the "powerstroke" logo.
First, Check and see if it looks like oil is coming from where the pump attaches to the motor. If so, you'd need a new gasket, nr new o-rings depending on where its coming out. Next, VERY CAREFULLY inspect the 2 lines going from the pump to each side of the motor. There could be a tiny pinhole in one of them that doesnt open up until under pressure. Also check the fittings that mate the hose to the engine and to the HPOP. The o-rings could be weak and letting oil through. If all that looks good, then check your IPR (Injector Pressure Regulator) which is directly under the fuel bowl and has a wiring harness attached to it. The o-ring in it can go bad and let oil seep out. Finally, check your turbo pedistal. Over time, the moving parts in it can get weak and start to let oil leak out. I doubt its this since you have oil in the valley. When the turbo pedistal is leaking, it generally just runs down the back of the engine.
Good luck and let us know your findings!
