Help:Condensation Vapor / Exhaust From Wheelwell

[E90076]

I have a 2010 xdrive4.8 and noticed today quite a bit of white vapor coming from the driver's side wheelwell. I saw it from the inside of my vehicle while parked and got out to investigate. It appears to be seeping from behind the black plastic inside of the wheelwell. I see that there is a heat exchanger (I'm guessing oil cooler) but it didn't appear to be coming directly from that cutaway - the seep was higher in the wheelwell. Anyone else have this or any thoughts on what it could be?