Hey guys, excuse my ignorance... should I be concerned with this little bit of residue? There were no visible "wet" drips or anything. engine has approximately 126k miles.
That is not an exhaust leak.An exhaust leak would not go around the side.Very slow oil leaks look exactly like this.I am not sure how bad the leak is, or what the car sounds like in person. But a oil leak would be wet, collect more dirt/grime, possibly not travel up the cover, and cover anything below the leak in the same oily dirty build up. A photo of the other side might tell more. To me that looks more like soot than oil.