Just wanted to share a tip to other people who might own 4.6l Mustangs. gasp.
If you notice large oil spots being deposited on the ground under the oil filter on cold startup, it is usually one of two things. It can be the o-ring on the oil cooler, which is a PITA to change OR it is a loose oil filter stud (for lack of a better term). Both will cause oil to pour out of the weep hole like coffee. Check the stud first because it is a five minute fix with a 1/2" allen socket. Mine was a little loose, so I tightened it up and screwed the oil filter back on. No more oil leak after that. The o-ring is a pain and $20 from Ford.
If you notice large oil spots being deposited on the ground under the oil filter on cold startup, it is usually one of two things. It can be the o-ring on the oil cooler, which is a PITA to change OR it is a loose oil filter stud (for lack of a better term). Both will cause oil to pour out of the weep hole like coffee. Check the stud first because it is a five minute fix with a 1/2" allen socket. Mine was a little loose, so I tightened it up and screwed the oil filter back on. No more oil leak after that. The o-ring is a pain and $20 from Ford.