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Bought kid a 2007 F150 with the 5.4. Began to experience the dreaded timing chain issues with the oil pressure drol after warm up. Decided to pull the oil pan to see if parts for belt guide in it. Instead, found this part. Don't know what it is. Any help greatly appreciated. Thanks in advance. Part found in oil psn.
There may not be any block damage but if the bearing spun, new ones may not fit properly and the crank may have damage. And, if the crankshaft hit the block, the crank and the block could be shot or in need of serious machining.
There is normally only one main with thrust bearing so locate that position and carefully pry the crank front and rear to inspect both the crank and the block.
I have no experience with thrust bearings on the 5.4 so don't know the likelihood of damage. Maybe someone else can chime in with more detail.